Crypto wrap Aug 8: ETH hits $4k as XRP, XLM and LINK among top performers
Main Idea
The cryptocurrency market saw significant gains on August 8, 2025, with Ethereum surpassing $4,000 and XRP, Stellar, and Chainlink among the top performers, driven by regulatory developments and corporate investments.
Key Points
1. The cryptocurrency market cap reached $3.86 trillion, with Ethereum (ETH) breaking past $4,000 and XRP, Stellar (XLM), and Chainlink (LINK) posting double-digit gains.
2. President Donald Trump’s executive order allowed crypto investments in 401(k) retirement plans, potentially channeling billions into the market.
3. Ripple’s legal battle with the SEC ended, sparking optimism and driving XRP’s price above $3.30.
4. Stellar (XLM) and Chainlink (LINK) surged more than 11% in 24 hours, with LINK benefiting from a new reserve fund announcement.
5. Pendle was the top gainer, up 20%, while Conflux posted losses despite the broader market rally.
Description
The crypto market is seeing an upbeat flip on Friday, August 8, 2025, with the market cap at $3.86 trillion and $178 billion in 24-hour trading volume, up 23%. Ethereum (ETH) led the rally, breaking past $4,000, while XRP, Stellar (XLM), and Chainlink (LINK) posted double-digit gains. The market’s bullish momentum is largely fueled by key regulatory and policy developments, notably President Donald Trump’s executive order expected to allow crypto investments in 401(k) retirement plans, adding to...
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