Digital Asset Market Hits $4 Trillion Milestone in Market Capitalization

The cryptocurrency sector has made history, achieving a total market capitalization exceeding $4 trillion (approximately 5,552 trillion won) for the first time. This groundbreaking surge was spurred by renewed investor confidence following the U.S. House of Representatives' passage of its inaugural federal regulatory bill addressing stablecoins.

Bitcoin (BTC) and altcoins such as Ethereum (ETH), Uniswap (UNI), and Solana (SOL) have experienced substantial gains amidst this optimism. Ethereum climbed by 22% in the past five days, while Uniswap skyrocketed with a 24% jump in a single trading day. Bitcoin itself has maintained its bullish momentum, reaching an unprecedented all-time high of $123,205 earlier this week.

U.S. Legislative Advances Propel Crypto Market Growth

The surge in market capitalization aligns closely with significant legislative strides in the United States. Last Thursday, the U.S. House of Representatives approved a bill outlining federal and state oversight for dollar-pegged stablecoins. Spearheaded by the Republican Party and backed by former President Donald Trump, the legislation is part of the broader "Crypto Week" reform effort designed to provide clarity for the industry. The bill now advances to the Senate for further consideration, where its outcome could have a considerable impact on market sentiment.

Institutional Investors Return With Capital Inflows

Institutional investors are making a decisive comeback, pouring billions into crypto assets as digital finance gains traction. In July alone, Bitcoin ETFs listed in the U.S. attracted colossal inflows of $5.5 billion (around 7.66 trillion won), while Ethereum-based ETFs garnered $2.9 billion (approximately 4 trillion won). Additionally, Bitcoin’s options market registered an uptick in open interest, particularly for strike prices positioned at $130,000.

Market analysts are taking notice of the bullish momentum. Fadi Aboualfa, Head of Research at Copper, shared his outlook: “If Bitcoin maintains its current trajectory, it could potentially hit $150,000 by early October.”

The convergence of institutional investments and legislative clarity is fostering optimism across the cryptocurrency industry, fueling its trajectory toward record-breaking highs. As key legislative developments unfold in the Senate, stakeholders and investors are watching intently, with the evolving regulatory landscape likely to play a pivotal role in shaping the future of the global crypto market.