XRP News Today: Crypto Market Capitalization Nears $4 Trillion on US Regulatory Boost

The total market capitalization of cryptocurrencies is rapidly approaching the $4 trillion milestone, driven by substantial daily gains in major cryptocurrencies such as Bitcoin, Ether, and XRP. This surge is closely tied to the passage of three key crypto bills in the US House, which has provided a significant regulatory boost to the market. According to various trackers, the peak crypto market capitalization figures range from $3.8 trillion to $3.9 trillion, surpassing the previous high of $3.73 trillion recorded in December. Some trackers have already indicated that the crypto market capitalization has crossed the $4 trillion mark, highlighting the rapid growth and increasing prominence of digital assets.

The recent gains in the crypto market are largely driven by the performance of Ether and XRP. Ether prices rose by 8% to exceed $3,600 for the first time since early January, marking a 40% increase over the past two weeks. Similarly, XRP surged by nearly 20% to reach a year-to-date high of $3.64 in early trading on Friday. These gains are seen as a direct result of the regulatory developments in the US, which have created a more favorable environment for cryptocurrencies. The passage of key legislation and plans to open the US retirement market to crypto investments have created a bullish environment for cryptocurrencies, attracting more institutional investors and driving market growth.

Analysts are optimistic about the continued growth of the crypto market. Nick Ruck, director at LVRG Research, noted that traders are seeing digital asset prices surge due to regulatory and institutional support. He expressed optimism that this growth will persist as institutions increasingly integrate with the crypto industry. Nassar Al Achkar, chief strategy officer at a major crypto exchange, echoed this sentiment, highlighting that the passing of key legislation and plans to open the US retirement market to crypto investments could unlock trillions in institutional capital. These regulatory changes are expected to attract more institutional investors, further driving the growth of the crypto market.

As the market capitalization of cryptocurrencies nears $4 trillion, it is now just behind Nvidia, the largest publicly-listed company in the world, which crossed a $4 trillion market cap for the first time on July 9 and is now valued at $4.2 trillion. This comparison underscores the significant growth and potential of the crypto market, positioning it as a major player in the global financial landscape. The regulatory developments in the US have played a crucial role in boosting market sentiment, creating a more favorable environment for cryptocurrencies and attracting more institutional investors. As the market continues to grow, it is expected to play an increasingly important role in the global financial system, with the potential to unlock trillions in institutional capital and drive further innovation in the digital asset space.