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Analysis: The total market value of cryptocurrencies exceeded the US$4 trillion mark and the stablecoin bill boosted the rally

Online reported that driven by the general increase in tokens and the comprehensive legislative process of crypto regulation in the United States, the total market value of cryptocurrencies exceeded the US$4 trillion milestone for the first time on Friday. Tokens other than Bitcoin led the rally, with Ethereum surging 22% in the past five days, while industry benchmark asset Bitcoin hit a record high of $123,205 earlier this week. In addition, Uniswap tokens surged by 24% at one point, and Solana also recorded a 6.5% increase. The U.S. House of Representatives also passed a more comprehensive crypto market structure bill on Thursday local time, which is currently pending consideration in the Senate. Investors continue to flock to U.S. -listed crypto ETFs. In July alone, the Bitcoin ETF attracted US$5.5 billion in capital inflows, and the Ethereum ETF also received US$2.9 billion in subscriptions.

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