Kathmandu. The crypto market has set a big record. The total value of the crypto market has exceeded $4 trillion. This price is higher than the annual GDP of countries such as Britain, France, Italy, Canada, Brazil and Russia.
Bitcoin’s value reached $ 123,205 last week. There has also been a surge in ether. Uniswap rose 20 percent on Friday. Solana also increased by 5.6 percent.
Investor confidence has increased after the new rules related to crypto in the US. The US Congress has passed the first federal law on stablecoin. According to Citigroup, by 2030, the market for stablecoin could be $ 3.7 trillion.
The rise in prices is not the only reason for the boom in the crypto market. Many new rules are being made regarding crypto in the US. This has boosted investor confidence. The United States has passed the first federal law on stablecoin. Stablecoins are crypto tokens. The value of which is linked to assets such as dollars. This law will create a formal outline for stablecoins.
The law was passed with the support of the Republican Party. President Donald Trump has signed it. It is considered a milestone. Stablecoins are considered to have a stable price. But sometimes their prices fall. The new law aims to reduce this risk. It will also help companies adopt it.
Investors are investing a lot of money in crypto ETFs. In July alone, $5.5 billion was invested in bitcoin funds and $2.9 billion in ether ETFs. The market has risen due to increasing interest from institutional investors.
Due to the flow of capital, clarity in the rules and the increasing popularity of Altcoins, it has been called ‘Crypto 2.0’. These are a new phase of the development and mainstreaming of digital assets.
