Optimistic regulatory expectations grew to become the point of interest for cryptocurrency buyers this week, following an occasion dubbed by the US authorities as “Crypto Week,” throughout which lawmakers sought to move three key regulatory payments for the Web3 business.
Fueled by the optimistic outlook, Bitcoin (BTC) flipped Amazon’s $2.3 trillion market capitalization and soared to turn out to be the world’s fifth-largest asset by whole worth.
Regulators handed the three key payments amid Republican considerations with central financial institution digital currencies (CBDCs).
In a Thursday Home session, lawmakers voted 294-134 to move the Digital Asset Market Readability (CLARITY) Act, a invoice aimed toward establishing a market construction for cryptocurrencies, 308-122 in favor of the Guiding and Establishing Nationwide Innovation for US Stablecoins (GENIUS) Act and 219-210 for the Anti-CBDC Surveillance State Act.
Trade watchers view the GENIUS Act as the important thing to legitimizing stablecoins for world adoption amongst banks and monetary establishments.
Bitcoin flips Amazon’s $2.3T market cap to turn out to be fifth world asset
Bitcoin has turn out to be the world’s fifth-largest asset, overtaking Amazon by market capitalization.
Bitcoin (BTC) value rose to a brand new all-time excessive of $122,600 on Monday and has soared practically 13% over the previous week, as Cointelegraph reported.
These good points allowed Bitcoin to surpass a $2.4 trillion market capitalization, overtaking Amazon’s $2.3 trillion, Silver’s $2.2 trillion and Alphabet’s (Google) $2.19 trillion, Cointelegraph information exhibits.
This meant Bitcoin’s market cap was solely $730 million shy of tech big Apple on the time of writing.
The event alerts Bitcoin’s rising presence within the world monetary system, in line with Enmanuel Cardozo, market analyst at real-world asset tokenization platform Brickken. He advised Cointelegraph:
“With institutional giants like BlackRock and MicroStrategy’s treasury frequently growing, the legitimacy of Bitcoin as an investable asset class is not in query, with regulatory momentum additionally shifting.”
Cardozo stated that continued institutional accumulation and the “supportive macro surroundings could assist Bitcoin surpass Apple’s valuation, implying a Bitcoin value of over $142,000.
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Grayscale submits confidential IPO submitting with SEC
Cryptocurrency-focused asset supervisor and exchange-traded fund (ETF) issuer Grayscale joined a rising listing of crypto firms in search of to launch IPOs in america.
On Monday, Grayscale stated it had filed to listing its firm shares with the Securities and Trade Fee (SEC) below a brand new clause that allows confidential filings forward of a closing public providing.
Coming into public markets would allow Grayscale to hunt extra funding alternatives via methods equivalent to public inventory choices, which was leveraged by Michael Saylor’s Technique, or convertible notice choices, equivalent to GameStop’s $2.25 billion providing from June 13.
Grayscale’s submitting comes over a month after Circle, the issuer of the world’s second-largest stablecoin USDC (USDC), upsized its IPO to greater than $1.05 billion and debuted on the New York Inventory Trade on June 5.
The IPO pricing gave Circle a valuation of $6.9 billion based mostly on the greater than 220 million excellent shares listed in its June 2 submitting.
Circle’s IPO success could encourage extra crypto-native corporations to maneuver into public markets with related choices, sparking a renewed crypto IPO season in 2025.
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Trump’s World Liberty crypto tokens are set to turn out to be tradable
Tokenholders of US President Donald Trump-backed crypto venture World Liberty Monetary (WLFI) have voted to make them tradable, opening the door for the Trump-linked token to extend in worth.
The proposal submitted by the WLFI group on July 9 closed on Wednesday, with an “overwhelming” 99.94% in favor of the unlock. It’ll make the platform’s governance token tradable via peer-to-peer transactions and secondary markets.
“Following the vote to make the token tradable, WLFI’s governance framework will allow extra tokenholders to take part instantly in protocol choices,” the WLFI group stated within the proposal.
“This contains voting on emissions, ecosystem incentives, and future treasury actions. This proposal is step one in handing larger affect to the group.”
Not all of the governance tokens will probably be unlocked directly, in line with the WLFI group, and a full launch plan is coming quickly, in line with WLFI’s publish on X on Wednesday.
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DEX-to-CEX ratio hits new excessive as crypto merchants flee centralization
Cryptocurrency merchants have been transferring away from centralized exchanges (CEXs) in favor of decentralized exchanges (DEXs), pushing the CEX-to-DEX ratio to a brand new all-time excessive.
Spot buying and selling quantity on DEXs surged no less than 25% within the second quarter of 2025 over the earlier quarter, whereas CEXs volumes plunged nearly 28%, in line with the newest quarterly business report by the crypto information aggregator CoinGecko.
This shift drove the DEX-to-CEX ratio to a report excessive in Q2, rising from 0.13 within the earlier quarter to 0.23, the report famous.
Regardless of the growing ratio, the spot DEX market continues to be considerably smaller than CEX, with the highest 10 decentralized buying and selling platforms posting $877 billion in quantity in Q2, in contrast with $3.9 trillion for CEXs.
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BTCFi TVL jumps 22x to $7B, however belief stays a problem
Bitcoin-based decentralized finance (DeFi), also known as BTCFi, is experiencing important development however nonetheless faces challenges.
In keeping with DefiLlama information, Bitcoin-based (BTC) DeFi protocols’ whole worth locked (TVL) went from $304.66 million on Jan. 1, 2024, to $6.5 billion by Dec. 31, 2024. As of publication, DefiLlama information exhibits that BTCFi has a TVL of $7.05 billion.
This interprets to a rise of greater than 22 instances. A report shared by Bitcoin smart-contract layer Arch Community means that “this surge was fueled by new protocol launches, rising token requirements, institutional inflows, a serious value rally pushing BTC to an all-time excessive, and the rise of liquid restaking.”
The survey outcomes launched within the report present that regardless of some options already in the marketplace, 36% of the respondents don’t have interaction with BTCFi because of a scarcity of belief. One-quarter keep away from interactions with BTCFi because of threat and worry of losses. Most (60%) view smart-contract exploits as the highest safety threat.
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DeFi market overview
In keeping with Cointelegraph Markets Professional and TradingView information, many of the 100 largest cryptocurrencies by market capitalization ended the week within the inexperienced.
The Curve DAO (CRV) token was the most important gainer within the high 100, rising greater than 63% over the previous week, adopted by the Stellar (XLM) token, up over 63%.
Thanks for studying our abstract of this week’s most impactful DeFi developments. Be part of us subsequent Friday for extra tales, insights and training relating to this dynamically advancing area.
