Crypto Market Capitalisation Hits Record $4 Trillion as Trump Opens 401(k)s to Digital Assets
Ahmed Bin Abdulqader ـ nabd-alhadath
Global crypto markets have surged from recent lows, with bitcoin edging closer to a new all-time high. The rally follows U.S. President Donald Trump’s signing of an executive order last week permitting 401(k) retirement plans to invest in cryptoassets – a move widely viewed as a significant step toward the mainstream adoption of digital assets in the United States. According to Simon Peters, Crypto Analyst at eToro, “Trump’s executive order represents a pivotal moment for mainstream investor participation and adds strong momentum to the market.”
In parallel, spot bitcoin and ethereum ETFs have seen a return of inflows after a brief period of outflows, further bolstering market sentiment. Weaker-than-expected U.S. economic data has also strengthened investor expectations that the Federal Reserve will cut interest rates by 25 basis points at its September meeting, adding further momentum to prices. As of today, total crypto market capitalisation has reached a record $4.02 trillion.
Looking ahead, market participants are closely watching the release of key U.S. economic indicators this week, including the Consumer Price Index (CPI), Producer Price Index (PPI), and retail sales figures. Inflation data coming in below expectations, alongside softer retail sales, could support further gains in cryptoasset prices as investors anticipate rate cuts – and potentially deeper cuts of more than 25 basis points – at the Fed’s next meeting. Such developments could provide additional tailwinds for the market, pushing total crypto market capitalisation to new heights.
BIGGEST MOVERS
$LDO was one of the biggest moving cryptos last week, up 60% as bullish momentum in the Ethereum ecosystem continued.
Lido is a decentralised autonomous organisation which simplifies staking participation for individuals on the Ethereum network, allowing users to pool their ethereum together and stake it on the blockchain without the need to operate their own nodes.
Other Ethereum ecosystem cryptos $AERO, $PENDLE and $LINK saw double digit gains, up 52%, 33% and 32% respectively.
Discover more here: https://www.etoro.com/discover/markets/cryptocurrencies/market-movers
EYE-CATCHING STORIES
US SEC and Ripple file joint dismissal to end five-year legal battle
The US Securities and Exchange Commission and Ripple Labs last week filed a joint dismissal of appeals concluding their near five-year legal battle.
Taking to social media platform X, Ripple’s chief legal officer Stuart Alderoty said “Following the Commission’s vote today, the SEC and Ripple formally filed directly with the Second Circuit to dismiss their appeals. The end…and now back to business.”
$XRP rallied 11% on the news and is now currently trading at $3.234, 13% away from the $3.667 all-time high.
SharpLink Gaming raises $200 million to expand ethereum treasury
SharpLink Gaming announced last week that it has raised $200 million via a direct stock offering to institutional investors to buy more ethereum.
The company, which recently appointed Ethereum co-founder Joseph Lubin to Chairman of its board of directors, currently holds 521,939 ETH valued at over $2.03 billion and is one of a growing number of publicly listed companies adopting an ethereum treasury strategy, accumulating the digital asset through purchasing as well as staking rewards.
SBET share price is currently trading at $23.92. Although up 228% since 27th May when the company first announced its ethereum treasury strategy, it is still some way off its recent $124 high.
s we have seen with companies who have adopted bitcoin treasury strategies like Strategy and Metaplanet, if the underlying ethereum price increases over the coming weeks and months it could also bode well for the SBET price.
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