The global cryptocurrency market value surpassed $4 trillion on Friday, according to CoinGecko, marking its evolution from a niche asset into a key pillar of global finance.
On Thursday, the US House of Representatives passed a bill establishing a regulatory framework for US dollar-pegged stablecoins, sending it to President Donald Trump, who is expected to sign it into law.
“This marks a turnaround in attitudes toward crypto, though lawmakers remain cautious,” said Derren Nathan, head of equity research at Hargreaves Lansdown.
The House also approved two other crypto bills, one outlining a broader regulatory framework and another banning a US central bank digital currency. Both now move to the Senate.
Stablecoins—cryptocurrencies designed to maintain a constant value, usually pegged 1:1 to the dollar—have seen rapid adoption as traders use them to move funds efficiently and explore instant payment solutions.
Chris Perkins, president of CoinFund, said, “The Genius Act will go down in history as a foundational step in making crypto mainstream.”
Corporate treasuries are increasingly allocating to Bitcoin as a long-term store of value.
The sector’s market value last stood at $3.92 trillion, with Bitcoin down 1.8% after hitting a record $120,000 earlier in the week. Brokerage Bernstein projects Bitcoin could reach $200,000 by end-2025.
Ethereum rose 4.5% and has more than doubled in the past three months.
Crypto-linked stocks surged, with Coinbase and Robinhood hitting record highs on Friday, up 1% and 3% respectively, while Ethereum-focused stocks also saw broad gains.
