Ethereum News Today: Crypto Market Surges 10% to $4 Trillion on US Legislation

The cryptocurrency market experienced a significant surge on July 18, with Bitcoin reaching around $118,000. This resurgence in risk appetite suggests a potential shift in market dynamics after a challenging first half of the year. Ethereum, in particular, has shown notable movements, with the ETHBTC pair overcoming the 0.03BTC level, which accelerated the rise in altcoins. This movement is significant as weekends typically have low trading volumes, and maintaining strong appetite could reverse the trend of unsold declines observed in bear markets.

Analysts have highlighted pivotal levels for Ethereum, suggesting that the journey to higher prices is already halfway completed. DaanCrypto noted that Ethereum is striving to reach the $4,000 mark, cautioning against succumbing to FOMO with such candlesticks. The movement of ETH is anticipated to pull numerous other cryptocurrencies along, as evidenced by the large volume of $602 million in ETH Spot ETFs recorded just the day before. The inflows over the past two days surpassed the total ETH mined since the merger, indicating a strong institutional interest.

Pentoshi, another analyst, provided a straightforward perspective on the situation. He noted that when ETH was at $2400-2500, institutions indicated they would purchase billions, similar to the launch of the BTC ETF. Traditional finance often hints at future trends, and currently, institutions are signaling their intention to increase their holdings significantly. Pentoshi advised simply buying and holding, as intelligence and patience are not necessary for profitability in the current environment. However, he also acknowledged the risk of losses, for which no compensation would be provided.

The demand for Dogecoin also surged following the announcement of a half-billion-dollar DOGE treasury. The subsequent spot demand pushed the price over $0.24. Martinez emphasized the strengthening bullish sentiment by highlighting the volume of purchases over the past 48 hours, with a total of $1.08 billion worth of DOGE bought. This indicates a growing interest in altcoins beyond the traditional leaders like Bitcoin and Ethereum.

On July 18, 2025, the cryptocurrency market achieved a significant milestone, surpassing a total market capitalization of $4 trillion. This surge was primarily driven by substantial gains in various altcoins, including XRP and Uniswap, as well as a resurgence in Ethereum's value. The market cap reached $4,001,350,396,696, marking a new all-time high for the cryptocurrency market.

The legislative developments in the United States played a crucial role in this market surge. On July 17, the U.S. House of Representatives passed three key crypto-related bills as part of what was dubbed "Crypto Week." These bills included the CLARITY Act, the GENIUS Act, and the Anti-CBDC Surveillance State Act. The GENIUS Act, aimed at bringing clarity to payment stablecoins, was set to be signed into law by the President. The CLARITY Act, which establishes a regulatory framework for digital assets, and the Anti-CBDC Surveillance State Act, which prohibits the creation of a central bank digital currency, were also significant steps towards mainstreaming cryptocurrencies.

Investor optimism about these legislative developments contributed to the market's surge. The anticipation of progress on crypto legislation drove not only the value of cryptocurrencies but also related financial instruments such as bitcoin exchange-traded funds (ETFs) and crypto mining operations. This surge was also fueled by other factors, including corporate treasuries accelerating their purchases of bitcoin, a Federal Reserve meeting that revealed disagreements about interest rate cuts, and a surge in tech stocks.

The latest surge in the crypto market is distinct from past speculative manias, which were often driven by low interest rates and unchecked enthusiasm. Instead, the current surge is underpinned by investor confidence built on the back of legislative guardrails and regulatory clarity. This shift indicates a maturing of the crypto market, moving from a speculative asset class to a regulated industry within global finance.

The passage of these bills represents a significant step towards the mainstreaming of cryptocurrencies. The CLARITY Act, in particular, aims to establish clear rules and a functional regulatory framework for digital assets, which could provide the necessary stability and confidence for broader adoption. The Anti-CBDC Surveillance State Act, by prohibiting the creation of a central bank digital currency, further safeguards the privacy of Americans and reinforces the role of decentralized cryptocurrencies.

The surge in the crypto market also highlights the growing influence of altcoins. Ethereum and Ripple, in particular, have led the altcoin rally, contributing significantly to the overall market cap. This trend suggests that while Bitcoin remains a dominant player, other cryptocurrencies are gaining traction and could play an increasingly important role in the future of digital assets.

In summary, the cryptocurrency market's surge past $4 trillion is a testament to the growing acceptance and regulatory clarity surrounding digital assets. The passage of key legislative bills in the United States has provided a framework for the industry's growth, while investor confidence and the rise of altcoins continue to drive the market forward. This development marks a significant milestone in the evolution of cryptocurrencies, moving from a niche asset class to a regulated and mainstream financial instrument.