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Weekly Recap: Total Crypto Capitalization Hits $4 Trillion

Happy weekend Defiers!

The total crypto market capitalization surpassed $4 trillion for the first time on Friday, driven by investor optimism following the U.S. House of Representatives' passage of the GENIUS, CLARITY, and Anti-CBDC Acts, marking a new era for favorable crypto regulations in the United States.

Ether surged another 20% over the past seven days to trade above $3,500 for the first time since January. The rally is being driven by increasing institutional adoption and solid ETF inflows.

Meanwhile, Coinbase stock reached an all-time high of $444, surpassing its previous record of $429 set in April 2021.

Finally, PumpFun’s much-hyped token is struggling despite $20 million in buybacks as ICO whales offload their holdings.

Enjoy!

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Crypto Market Cap Hits $4 Trillion Milestone as US House Passes Landmark Bills

The cryptocurrency sector’s total market capitalization surpassed $4 trillion for the first time on Friday, following the U.S. House of Representatives’ passage of three major digital asset bills.

U.S. House Passes Clarity, GENIUS, and Anti-CBDC Acts With Historic Bipartisan Support for Crypto

On Thursday, the U.S. House of Representatives passed three major cryptocurrency bills – the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act, the Clarity Act, and the Anti-CBDC Surveillance State Act – marking a significant step toward clearer crypto regulation in the United States.

ETH ETFs See Record Inflows, Over 100x Daily Ethereum Network Issuance

Spot Ethereum ETFs are seeing more demand than the amount of new ETH coming into circulation. On July 16, U.S.-listed spot Ethereum ETFs saw their biggest day of inflows yet, taking in over $726 million — over 100 times more than the Ethereum network issued that day.

COIN Rallies to New All-Time High After Crypto Bills Pass, Base App Reveal

Coinbase, the largest crypto exchange in the United States, went on a tear on Friday, with its COIN stock surging to its first all-time high in five years, surpassing its April 2021 high.

This week, Coinbase also launched a rebrand and upgrade of its Ethereum Layer 2 Base. The activation marks Coinbase Wallet’s pivot to the Base app — with added features pushing it toward “super app” status — and also includes Flashblocks preconfirmation blocks for Base Chain.

PUMP Struggles Despite $20 Million Buyback

Memecoin launchpad pumpfun’s buyback strategy isn’t lifting its recently launched token as holders had likely hoped.

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