The protest comes after the US House of Representatives passed three major bills related to crypto during the period before the August recess.
The overall crypto market cap is close to reaching the $4 trillion threshold, with the significant increases in Bitcoin, Ethereum, XRP, and other leading cryptocurrencies.
Main Points
1 :- The overall crypto market cap has soared to over 4 trillion, with Bitcoin, Ether and XRP recording gains.
2 :- Three major crypto bills were passed in the US House, which improved the confidence of investors and led to the market rally.
3 :- The fact that the family of Trump has a lot of crypto holdings poses a question of conflict of interest.
The rally comes after the US House of Representatives approved three important crypto-related bills in the run-up to the August recess.
CoinMarketCap estimated the crypto market cap to have reached about 3.8 trillion dollars, whereas TradingView estimated the figure to be about 3.9 trillion dollars, both breaking the previous record of 3.73 trillion dollars in December.
Crypto Market Cap Hits $4 Trillion Mark
In the meantime, CoinGecko has already announced that the market cap has surpassed the mark of 4 trillion dollars.
On Thursday, Bitcoin had recovered its ground above $120,000 with slight daily gains.
Ether rose 8 percent, to above $3,600, its highest level since January, up 40 percent in the past two weeks.
In the meantime, XRP saw a wild surge of almost 20%, to a year-to-date high of $3.64 early Friday.
A $4 trillion market cap would put cryptocurrencies second only to Nvidia, the largest publicly traded company in the world, which just surpassed the same valuation.
The new wave of legislation in the US has given investors a shot in the arm, and digital assets are experiencing a new wave of enthusiasm all around.
On Thursday, the US House of Representatives approved three bills related to cryptocurrencies, one of which was immediately sent to President Donald Trump, and the other two are sent to the Senate.
The actions are a continuation of the Trump administration to make the US the crypto capital of the world as the president has declared crypto week.
The most important bill to reach Trump, the GENIUS Act, proposes some of the first regulations and consumer protections of stablecoins, cryptocurrencies that are pegged to stable assets such as the US dollar.
It was bipartisan in the House and is designed to strike a balance between innovation and consumer protection in the new world of payments.
A second bill, by a narrower margin, aims to provide clarity on the regulation of various forms of digital assets, with commodities, regulated by the Commodity Futures Trading Commission, and securities, regulated by the Securities and Exchange Commission.
The bill has been passed to the senate to be considered further.
A third bill, which passed by a slim margin, would prevent the US issuing a central bank digital currency (CBDC), or in effect, a government-sponsored digital cash. The senate is also yet to review this bill.
The Crypto Portfolio of Trump Family Raises Conflict of Interest Concerns
The family of Trump has a lot of interests in crypto projects, such as World Liberty Financial, which causes the issue of conflict of interest and possible corruption.
In financial disclosures published last Friday, the ex-president earned $58 million in crypto projects in 2024, mostly by selling WLFI tokens.
That amount was second only to his hospitality revenue and is likely to rise even higher in 2025 to an estimated $390 million in a token sale and profits of his meme coin, which he launched in January.
His participation in Bitcoin mining, tokenized assets, and digital ETFs is generating concerns of possible conflict of interest.
It's gaining day by day and thats something good.
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