Weekly Crypto Roundup: Bitcoin Hits ATH, Ethereum Surges, Trump Advances Crypto Reforms

Analyzing the latest updates shared by Wu Blockchain, this past week underscored a pivotal shift in the crypto landscape. Bitcoin surged to a new all-time high of $123,226, pushing the overall crypto market cap beyond $4 trillion—a milestone reflecting renewed investor confidence and accelerating institutional flows.

Together, these events suggest a market entering a new phase—where institutional participation, regulatory clarity, and retail enthusiasm are converging to reshape the crypto economy.

1. Bitcoin reaches new all-time high as market cap crosses $4T

Bitcoin set a new record, peaking at $123,226, while trading at $118,547 at press time with a modest 0.13% daily gain. The total cryptocurrency market cap surpassed $4 trillion, with Bitcoin commanding 59.9% dominance and Ethereum 10.8%. Notably, XRP soared past $3.60, becoming the third-largest crypto by market cap at over $210 billion. On Upbit, XRP/KRW alone accounted for 33% of total trading volume.

2. Ethereum activity spikes on ETF inflows and institutional buying

Ethereum contracts reached a record $50.3B open interest on July 17, with over $549M liquidated in 24 hours. BlackRock’s ETHA ETF saw a $499M single-day inflow. SharpLink emerged as the largest ETH corporate holder with 321,000 ETH, while BitMine and BTCS expanded their holdings. ETH price rose to $3,601, up 4.81% in 24 hours.

3. Trump to open 401(k)s to crypto and private equity

President Trump plans to sign an executive order allowing 401(k) plans to invest in crypto, gold, and private equity. The move aims to modernize access to alternative assets within the $9 trillion U.S. retirement system.

READ MORE:

Top 10 Trending Cryptocurrencies, According to CoinGecko

4. U.S. House passes GENIUS Act and other major crypto bills

Congress approved three crypto-related bills, including the GENIUS Act, which sets standards for stablecoin issuers. Trump is expected to sign it into law, marking a significant regulatory milestone.

5. Trump considers firing Fed Chair Powell

Amid tensions over interest rate policy, Trump reportedly drafted a letter to dismiss Jerome Powell. While legally limited, the move signals increasing pressure on the Fed. Treasury Secretary Yellen confirmed the search for Powell’s successor has begun.

6. EU’s AML authority tightens crypto regulation

The newly operational AMLA warned crypto firms to comply with anti-money laundering rules. By July 2027, all VASPs must provide regulators with real-time access to account data and prohibit anonymous wallet services.

7. Russia’s Sberbank to offer crypto custody

Russia’s largest state-owned bank, Sberbank, announced plans to provide domestic crypto custody, proposing regulatory integration with the central bank amid relaxed crypto policies.

8. Standard Chartered launches BTC and ETH spot trading

Standard Chartered became the first G-SIB to offer spot BTC and ETH trading to institutional clients via its UK division, citing strong demand and regulatory readiness.

READ MORE:

Top 10 Trending Cryptocurrencies, According to CoinGecko

9. Bitcoin developers propose security fix for quantum threats

Jameson Lopp and others proposed freezing BTC linked to quantum-vulnerable addresses, including those tied to Satoshi Nakamoto. About 25% of Bitcoin is at theoretical risk if quantum computing advances rapidly.

10. PUMP token launches with explosive demand

The PUMP token launched on July 12, surging 42% above presale price. With over $448M raised and liquidity largely provided by retail investors, the token saw intense trading. The Pumpfun team has begun buybacks using fee income, acquiring 3.04B PUMP worth $18.34M to date.

Ethereum’s momentum was equally notable, with spot ETF inflows hitting record levels and major firms like SharpLink and BitMine expanding their ETH treasuries, signaling long-term corporate conviction.

Kosta Gushterov

Kosta has been working in the crypto industry for over 4 years. He strives to present different perspectives on a given topic and enjoys the sector for its transparency and dynamism. In his work, he focuses on balanced coverage of events and developments in the crypto space, providing information to his readers from a neutral perspective.