Crypto market cap nears $4 trillion, trailing only world’s most valuable company

The combined crypto market cap has rocketed to nearly $4 trillion, fueled by double-digit rallies in Ethereum (ETH) and Ripple (XRP) following the U.S. House’s passage of three pivotal crypto bills. At $3.9 trillion per TradingView data, with some trackers already reporting $4 trillion.

The crypto market cap now sits just behind chipmaker Nvidia ($4.2 trillion) as the world’s most valuable asset class.

The milestone caps a historic fortnight that saw ETH surge 40% and XRP spike 20% in a single day, with analysts attributing the gains to growing institutional adoption and regulatory clarity.

ETH and XRP lead crypto market cap surge

According to CoinGecko, Ether breached $3,600 for the first time since January, while XRP hit a year-to-date high of $3.64—a rally that contributed significantly to the crypto market cap’s ascent. Bitcoin (BTC) also reclaimed $120,000, though its modest daily gains were overshadowed by altcoins’ explosive performance.

“Traders see digital asset prices surge from regulatory and institutional support,” said Nick Ruck, director at LVRG Research, in an interview with Cointelegraph. “We’re optimistic this growth will continue as institutions race to integrate crypto.”

Notably, crypto’s market cap has now eclipsed its December 2023 peak of $3.73 trillion, per CoinMarketCap data.

Regulatory tailwinds propel crypto market cap growth

The U.S. House’s passage of the GENIUS Act—alongside two other pro-crypto bills—ahead of its August recess has injected optimism into markets. Experts argue these developments could unlock trillions in institutional capital, further boosting the crypto market cap.

“Bitcoin and other cryptocurrencies surged as traders entered a risk-on mode due to bullish regulatory developments,” noted Nassar Al Achkar, chief strategy officer at CoinW exchange. “Trump’s plan to open retirement accounts to crypto could be a game-changer.”

The bills aim to establish clearer frameworks for digital assets, addressing long-standing industry pain points around compliance and custody.

Will the crypto market cap overtake Nvidia?

While the crypto market cap still trails Nvidia’s $4.2 trillion valuation, analysts suggest the gap could narrow if regulatory momentum continues. Key factors to watch:

1. Institutional inflows: Retirement fund access and ETF expansions may drive fresh capital.

2. Macro conditions: Rate cuts could further buoy risk assets.

3. Political shifts: U.S. election outcomes may shape long-term policy.

“This is just the beginning,” Ruck added. “Crypto’s market cap reflects a fundamental shift—not just speculation.”

Key points

• The crypto market cap hit $3.9 trillion, nearing Nvidia’s $4.2 trillion valuation.

• ETH and XRP outperformed BTC, with 40% and 20% rallies, respectively.

• U.S. regulatory progress is seen as a critical catalyst for growth.