Global crypto value surpasses $4T as investors pour in

The global cryptocurrency market has hit a huge new milestone, crossing the $4 trillion mark for the first time.

This record achievement has been powered by rising altcoin prices, strong investor interest, and clearer crypto regulations in places like the United States. 

Although the total market cap slipped slightly to $3.9 trillion shortly after, the jump over $4 trillion has sent excitement through the entire crypto world.

On 18 July, crypto data platform CoinGecko reported that the total value of the crypto market crossed $4 trillion during Asian trading hours. This marks a major comeback for the industry, which only climbed back over the $3 trillion level in May.

Since May, the crypto space has seen more institutional investors stepping in, retail investors rushing into smaller tokens, and clearer crypto rules coming out from governments. These trends have pushed the market to new heights.

To understand just how big the crypto market has become, CryptoRank compared it to the size of major national economies. If crypto were a country, its $4 trillion value would place it ahead of the United Kingdom (about $3.8 trillion), France ($3.2 trillion), and Italy ($2.4 trillion). Only the United States, China, Germany, India, and Japan would have larger economies.

But the crypto market’s size doesn’t just stand out next to countries. If seen as a company, the combined value of cryptocurrencies would place it just below tech giant Nvidia, which recently also passed the $4 trillion mark. These comparisons show how important crypto has become on the global stage.

At the core of this surge are Bitcoin ($BTC) and Ethereum ($ETH), which together make up more than 70% of the market’s value. According to CoinGecko, Bitcoin rose 1.4% in the past 24 hours, reaching over $120,336, while Ethereum surged 6.4% to hit $3,647. 

Both tokens have since cooled slightly, with Bitcoin trading at $118,673 and Ethereum at $3,610 at press time.

The general manager at stablecoin company First Digital, Devere Bryan, said, “The $4 trillion crypto market milestone underscores the industry’s rise as a mainstream asset class. Bitcoin’s status as digital gold fuels unparalleled wealth creation”.

New laws and big investors boost crypto

One major reason behind the crypto boom is progress on new crypto laws in the US. On Thursday, the US House of Representatives passed two important bills: the GENIUS Act and the CLARITY Act.

The GENIUS Act introduces the first federal rules for stablecoins, aiming to make them safer for consumers. The CLARITY Act offers a legal framework for crypto assets, helping separate which tokens are treated as commodities and which as securities. 

Both bills are now awaiting the signature of President Trump, who is expected to sign them into law.

These legal victories have brought a wave of investor confidence. On the same day the House passed the bills, institutional investors put $522.6 million into spot Bitcoin exchange-traded funds (ETFs). 

This follows two weeks of heavy inflows, topping $4 billion in total, according to UK asset manager, Farside Investors.

The head of OTC sales and trading at Hex Trust, Charmaine Tam, said, “I believe the momentum will be sustained in the short-term. We did not witness a ‘Buy on Rumour, Sell on Facts’ after the passing of the landmark crypto legislation”. 

She also expects other countries to follow the US in setting clear crypto rules, which could drive even more global adoption.

Ethereum has been a major winner in this surge. Its share of the market rose from 9% to 11%, while Bitcoin’s share fell by four percentage points. Analysts see this shift as a sign of an “altcoin season”, where investors move into riskier coins. 

The head of structured products at Mantle, Sohan Sen, commented, “Institutional capital is finding its footing, with Ethereum’s surge past $3,600 backed by a whopping $726 million in single-day ETF inflows signalling systematic adoption”.

Sen pointed out that Ethereum plays a key role in the crypto world, hosting more than half of all stablecoins globally. He said this shows that “programmable money is inevitable as table stakes in the future of finance”.

Market cools after rally

Despite the excitement, the market is showing signs of cooling. Bitcoin had its best week since May but is now facing some profit-taking. 

Research firm, QCP Capital, reported that Bitcoin “took a brief pause after surging past the $120k mark, triggering profit-taking flows that began to cap the momentum”. 

Their analysts believe that a pullback to around $110,000, which was the previous cycle high, could offer a more stable base for further gains.

On the prediction markets platform Myriad, just 7.4% of users believe Bitcoin will end the day above $122,000. A large majority – 94% – voted no, suggesting most traders expect a short-term drop or a period of consolidation.

The 18th of July also marks the expiry of roughly 41,500 Bitcoin options contracts, with a notional value of around $5 billion. Although this expiry is larger than last week’s, it is not expected to significantly impact spot prices. 

According to crypto derivatives provider, Greeks Live, “The group shows a bearish consensus with traders successfully predicting and positioning for downward movement”. 

Another derivatives platform, Deribit, stated that Bitcoin is “consolidating near recent highs, while the market remains cautious about short-term volatility”.

Alongside Bitcoin options, around 243,000 Ethereum contracts are also expiring today, worth about $750 million. This brings the combined expiry value of crypto options on Friday to roughly $5.7 billion.

Adding to the mix is the political angle. Since Donald Trump’s win in the November 2024 US presidential elections, Bitcoin has gained 36%, marking its fourth-best monthly performance since 2021. 

The Trump administration has openly embraced what it calls “crypto week”, aiming to make the US the world’s “crypto capital”.

However, Trump’s personal financial ties to crypto have raised concerns. Financial disclosures from July 2025 show that he earned $58 million in 2024 from crypto-related activities, mainly through selling WLFI tokens tied to World Liberty Financial. These crypto earnings were second only to his hotel business.

Looking ahead, Trump’s crypto-related earnings are expected to surge further. Estimates suggest he could make another $390 million in 2025 through token sales and his recently launched memecoin. 

Disclosures also show investments in digital ETFs, tokenised real estate, and Bitcoin mining operations. Critics argue that these personal investments pose a conflict of interest, especially as his administration pushes forward pro-crypto reforms.

This surge brings back memories of the 2021 bull run when the crypto market cap shot past $3 trillion, powered by the rise of decentralised finance (DeFi), non-fungible tokens (NFTs), and pandemic-driven liquidity. 

That rally ended with painful crashes, including the fall of major players like FTX and Terra, which sent Bitcoin’s price down to $15,625. Today, with the market nearing $4 trillion, crypto is again brushing shoulders with the world’s most valuable companies, including Nvidia.

As the week draws to a close, Bitcoin has bounced back to $120,700 during Asian trading hours, wiping out its weekly losses and coming within 2% of its all-time high. 

Ethereum is up 8% on the day, reaching $3,600 – its highest since early January – largely due to massive ETF inflows and fresh activity from Ethereum treasury companies. Meanwhile, $XRP has hit an all-time high of $3.64 after a stunning 20% surge in a single day.

The crypto industry now stands at a crossroads. With new laws, massive investments, and market momentum, it is moving into territory once thought impossible. 

But questions remain about sustainability, volatility, and the impact of political connections – making the next chapter of this story one the world will be watching closely.