Last week was significant for the cryptocurrency market. Bitcoin reached a new all-time high of $123,218, and its market capitalization exceeded $2.35 trillion. This allowed the first cryptocurrency to surpass Amazon and become the fifth most valuable asset in the world.
This is reported by Finway
Ethereum and XRP Set New Records
Ethereum demonstrated impressive growth, reaching the mark of $3,705. The weekly gain was 25.9%, while the monthly figure reached 47%. SharpLink Gaming plans to make a substantial investment in this cryptocurrency, increasing the potential offering volume from $1 billion to $6 billion.
XRP also set a new all-time high, reaching $3.65. Open interest in XRP derivatives exceeded $10 billion, indicating growing investor confidence.
“Today, we will take a giant step toward cementing America’s dominance in global finance and cryptocurrency by signing the landmark GENIUS Act,” Trump stated.
Important Regulatory Changes
U.S. President Donald Trump signed the GENIUS Act, which became the first federal regulation aimed at legalizing and controlling the issuance of stablecoins. Additionally, the CLARITY Act and the Anti-CBDC Surveillance State Act have been introduced, which define the legal status of crypto assets and restrict the issuance of digital currency by central banks.
The European Anti-Money Laundering Authority has warned of stricter AML rules for cryptocurrency companies. The regulator will monitor compliance with anti-money laundering legislation across all 27 EU countries.
Against the backdrop of positive news, the total market capitalization of cryptocurrencies surpassed the $4 trillion mark, setting a new all-time record. This indicates growing confidence among institutional investors and further integration of digital assets into the traditional financial system.