The cryptocurrency market is showing significant growth, surpassing the $4 trillion mark due to rising altcoin prices and new US legislation.
Signing of the GENIUS Act
President Trump signed the GENIUS Act, regulating stablecoins. This marks an important step in solidifying the US's leadership in finance and crypto technology. According to CoinGecko, the total crypto market capitalization surpassed $4 trillion for the first time.
Bitcoin Dominance Falls to 60%
Following Bitcoin's record high of $123,218 on July 14, its market dominance dropped from 63% on July 16 to 60%. Over the past week, altcoins showed significant growth:
* ETH: +26% * XRP: +22% * BNB: +9% * SOL: +12% * DOGE: +39% * ADA: +17%
Growing Interest in Ethereum
Ethereum surged 26% this week, briefly exceeding $3,800 over the weekend. From its low of $1,385 on April 9, ETH has risen 174%, still 28% below its all-time high of $4,868 in November 2021. Ethereum ETFs attracted $2.9 billion in inflows, and the rise of ETH reserve companies has sparked competition among public companies.
The cryptocurrency market, having reached new heights, continues to evolve under the influence of lawmakers and changing economic conditions. Further growth in the sector is anticipated due to regulatory changes and increasing interest in altcoins.
