The total market value of cryptocurrencies has surpassed $4 trillion (€3.44 trillion) for the first time, as reported by the Financial Times, citing data from crypto information provider CoinGecko.
In the United States, federal legislation has been approved to expand the use of digital currencies in the financial sector, which is expected to attract more investment from major investors into the crypto space.
Bitcoin surged to a record high of over $123,000 (€105,775) this week, though its value later declined slightly. The most well-known cryptocurrency accounts for about 60% of the entire sector’s value. This year, Bitcoin has risen sharply due to President Donald Trump’s crypto-friendly policies. Other cryptocurrencies, like Ether and Solana, have also experienced significant price increases this week.
On Friday, Trump signed a law regulating stablecoins, or digital currencies that are pegged to a fixed value. Experts view this as a sort of political maturity for the cryptocurrency sector.
