Surges in the price of Ether and XRP have driven total crypto market capitalization to record highs just shy of $4 trillion.
Total crypto market capitalization is within striking distance of the $4 trillion milestone, driven by a daily surge in Bitcoin, Ether, XRP and other cryptocurrencies as three major crypto bills were passed in the US House.
A $4 trillion market cap would place cryptocurrencies just behind Nvidia, the biggest publicly-listed company in the world, which crossed a $4 trillion market cap for the first time on July 9 and is now at $4.2 trillion.
Binance-owned CoinMarketCap shows peak crypto market capitalization figures at $3.8 trillion, while TradingView has the number at $3.9 trillion, higher than the previous peak of $3.73 trillion in December.
However, some trackers like CoinGecko have already shown that crypto market capitalization has crossed the milestone.
JUST IN: The total crypto market cap has hit a new ATH of $4T. pic.twitter.com/gE8hRFegwz
— CoinGecko (@coingecko) July 18, 2025
ETH and XRP driving market gains
Bitcoin (BTC) topped $120,000 again on Thursday following a minor daily gain, but Ether (ETH) and XRP (XRP) are surging after the US House passed three key crypto bills ahead of the August recess.
Ether prices rose 8% to top $3,600 for the first time since early January, culminating in a 40% gain for the asset over the past fortnight.
Meanwhile, the Ripple cross-border token XRP skyrocketed almost 20% on the day to a year-to-date high of $3.64 in early trading on Friday.
Related: XRP is about to hit $200B market cap for first time; price nears record
More gains to come, say analysts
“Traders see digital asset prices surge from regulatory and institutional support,” director at LVRG Research, Nick Ruck, told Cointelegraph.
“We’re optimistic that this growth will continue as institutions race to advance integration with the crypto industry.”
Markets boosted by US regulations
“Bitcoin and other cryptocurrencies surged as traders entered a risk-on mode due to bullish regulatory and institutional developments,” added Nassar Al Achkar, chief strategy officer at CoinW crypto exchange.
“The passing of the GENIUS Act and Trump’s plan to open the US retirement market to crypto investments could unlock trillions in institutional capital.”
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