(July 18): The total market capitalisation of cryptoassets surged past US$4 trillion (RM17 trillion) for the first time, driven by a rally in altcoins and momentum from a sweeping US legislative push to regulate the sector.
The milestone followed the passage of the first-ever federal legislation for stablecoins, a key accomplishment during what lawmakers have dubbed “Crypto Week.” The bill, backed by Republicans and championed by President Donald Trump, introduces federal or state oversight of dollar-linked stablecoin, aiming to legitimise a US$265 billion market that Citigroup Inc analysts project could grow to US$3.7 trillion by 2030.
Altcoins — a catch-all term for tokens besides bitcoin — led the latest leg of the rally, with ether jumping 22% over the past five days. Bitcoin, the industry’s benchmark asset, hit a record US$123,205 earlier this week. Uniswap surged 20% on Friday, while solana gained 5.6%.
Thursday also saw the House pass a broader crypto market structure bill, which now awaits Senate consideration.
Investors have continued to flood into US-listed crypto ETFs. Bitcoin funds have attracted US$5.5 billion in inflows so far in July, while Ether ETFs brought in US$2.9 billion.
Uploaded by Magessan Varatharaja