The total cryptocurrency market capitalization is nearing the $4 trillion mark, driven by significant price increases in Ether (ETH) and XRP, and supported by recent legislative developments in the United States.
This surge positions the crypto market close to Nvidia, currently the world’s largest publicly listed company, which achieved a $4 trillion market capitalization on July 9 and now stands at $4.2 trillion. While some trackers, such as CoinGecko, indicate that the crypto market capitalization has already surpassed $4 trillion, others like CoinMarketCap show peak figures at $3.8 trillion, and TradingView at $3.9 trillion, exceeding the previous peak of $3.73 trillion in December.
Ether prices have climbed 8% to exceed $3,600, marking its highest point since early January and representing a 40% gain over the past two weeks. Concurrently, XRP has seen a nearly 20% increase in a single day, reaching a year-to-date high of $3.64. While Bitcoin also saw a minor daily gain, topping $120,000, it was Ether and XRP that led the market’s significant daily movements.
Analysts attribute these gains to increasing regulatory clarity and institutional support. Nick Ruck, director at LVRG Research, noted, “Traders see digital asset prices surge from regulatory and institutional support,” adding optimism for continued growth as “institutions race to advance integration with the crypto industry.” Nassar Al Achkar, chief strategy officer at CoinW crypto exchange, further explained that “Bitcoin and other cryptocurrencies surged as traders entered a risk-on mode due to bullish regulatory and institutional developments.” He highlighted that the passage of the GENIUS Act and former President Trump’s plans to open the U.S. retirement market to crypto investments could “unlock trillions in institutional capital,” further fueling market expansion.
