Crypto Market Review: GENIUS Act Fuels $4T Market Cap
The cryptocurrency market experienced substantial growth this week, marked by increasing demand and overall bullish sentiment. Despite minor corrections, digital assets largely trended upward, driven by significant events and emerging trends. Here’s a rundown of the week's top performers and key developments.
Key Crypto Market Events and Highlights
The U.S. House of Representatives' ‘Crypto Week,’ which concluded between July 14 and July 20, was a major highlight. The Senate approved three bills, and the GENIUS Act was signed into law.
✅ GENIUS ACT SIGNED INTO LAW
“The GENIUS Act creates a clear and simple regulatory framework to establish & unleash the immense promise of dollar-backed stablecoins. This could be perhaps the GREATEST revolution in financial technology since the birth of the internet itself.” pic.twitter.com/CH5pnznAuf
— The White House (@WhiteHouse) July 18, 2025
This legislative progress spurred Bitcoin to a new all-time high of $123,000, boosting investor confidence and whale activity. Altcoins also surged, amplifying discussions around a potential altcoin season.
Recently, the crypto market capitalization reached $4 trillion, a significant milestone. Bitcoin, Ethereum, Solana, and other cryptocurrencies experienced bullish momentum, positively impacting crypto ETFs, with inflows of $2.39 billion into BTC funds and $1.8 billion into ETH funds.
- Source: X, Ethereum ETF Inflows
The ProShares XRP ETF, offering 2x daily leverage exposure to XRP, launched on July 18. Over $1.5 billion in token unlocks occurred, primarily dominated by 90 million TRUMP tokens. While consolidation followed the rally on July 19, the market remained relatively stable and favorable for investors.
Top Crypto Gainers of the Week
While Bitcoin hit a new ATH, it wasn’t among the top performers this week. Instead, Bonk, Curve Dao Token (CRV), Pudgy Penguin (PENGU), FLOKI, and Hedera (HBAR) led the gains.
- Source: CoinMarketCap, Top Crypto Gainers
- Bonk: Currently trading at $0.00003383, Bonk, a popular Solana meme coin, saw a 52.5% increase this week, boosted by a surge in trading volume, short liquidations, and Grayscale's interest.
- Curve DAO Token (CRV): CRV increased by 48%, trading at $0.09406. This surge is attributed to stablecoin trading growth following the GENIUS Act's passage.
- Pudgy Penguins (PENGU): PENGU rose by 46% this week, trading at $0.03336, driven by Igloo Inc.'s development plans and a technical breakout.
- FLOKI: Continuing its performance from last week, FLOKI trades at $0.0001393, up 44% this week, benefiting from meme coin demand and breaking a multi-month trendline.
- Hedera (HBAR): HBAR increased by 33.5% this week, trading at $0.02713.
Disclaimer: The presented content includes the author’s personal opinion and is subject to market conditions. Conduct thorough market research before investing in cryptocurrencies. The author and publication are not responsible for any financial losses.
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