Global Cryptocurrency Market Cap Surpasses $4 Trillion for the First Time
- Input
- 2025-07-19 04:21:17
- Updated
- 2025-07-19 04:21:17
The U.S. Congress has passed bills incorporating cryptocurrencies into the institutional framework, and the global cryptocurrency market capitalization has surpassed $4 trillion (approximately 5,572 trillion won) for the first time.
The Financial Times (FT) reported on the 18th (local time), citing data from digital asset data provider CoinGecko, that the cryptocurrency market cap has exceeded $4 trillion.
It is the first time that the total market capitalization of various cryptocurrencies, including major players like Bitcoin and Ethereum, has exceeded $4 trillion.
Bitcoin recently surpassed the $123,000 mark for the first time.
Mark Palmer, an analyst at investment bank Benchmark, explained that the U.S. Congress's legislation is the main driver behind the cryptocurrency market cap surpassing $4 trillion.
He said the so-called GENIUS Act, which passed Congress on the 17th, is "one of the most important moves to include cryptocurrencies in the mainstream," adding that "funds from institutions that have been waiting on the sidelines for exactly this kind of move will start flowing in."
The U.S. House of Representatives eventually passed the so-called GENIUS Act on the 17th, which it had rejected earlier this week.
They succeeded in persuading some Republican lawmakers who had cast dissenting votes.
The GENIUS Act is a law regulating so-called stablecoins, cryptocurrencies that have a 1:1 value with the U.S. dollar. It is an official declaration that stablecoins, and by extension cryptocurrencies, are being incorporated into the institutional framework.
A series of bills prohibiting the issuance of central bank digital currencies and other digital asset market structures also passed the House on the 17th.
If these bills pass the Senate, they will take effect after being signed by President Donald Trump.
Major Wall Street investment banks plan to issue their own stablecoins once the GENIUS Act takes effect.
JP Morgan, Bank of America (BofA), and Citigroup are expected to issue their own stablecoins.
dympna@fnnews.com Song Kyung-jae Reporter