The key legislation regulating stablecoins, GENIUS Act, has been passed by the U.S. House of Representatives. In response, the cryptocurrency market saw a sharp increase, approaching the historic $4 trillion mark in total capitalization. The rally includes not only Bitcoin but also major altcoins such as Ethereum and XRP.
Bill Passed, Market Reacts With Growth
The U.S. Congress's decision to advance three crypto-related bills, including the GENIUS Act, has raised market expectations significantly. Following the House vote, investor activity surged and the prices of leading digital assets began to rise. The GENIUS Act regulates the issuance and circulation of stablecoins, and its progression has become a key signal for the market.
Capitalization Nears All-Time High
According to CoinMarketCap, total crypto market capitalization has risen to $3.94 trillion, surpassing the December peak of $3.73 trillion. Some platforms, including CoinGecko, have already recorded the market exceeding the $4 trillion threshold. For comparison, Nvidia's current market cap stands at $4.219 trillion.
BTC and ETH Strengthen, XRP Hits Yearly High
Bitcoin (BTC) crossed the $120K mark after moderate daily gains. Earlier, the asset exceeded $122K and overtook Amazon and Google in market capitalization. Ethereum (ETH) climbed 6,99% to $3.664, marking its highest level since January. Over the past two weeks, ETH has gained 40%. XRP (XRP) rose 13,04% in the last 24 hours, reaching a yearly high of $3.55.
Nick Ruck, Director of LVRG Research, noted that the market acceleration is driven by a combination of institutional interest and a favorable regulatory agenda. According to him, major corporations are increasingly seeking ways to integrate with crypto infrastructure.
CoinW Exchange Strategy Director Nassar Al Achkar added that the shift to a "risk-on" market mode was triggered specifically by the passage of the GENIUS Act and statements from Donald Trump about plans to open the U.S. retirement market to crypto investments. According to market participants, this could unlock trillions of dollars in institutional capital.
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