07/18 Afternoon Briefing
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XRP Surpasses All-Time High in 7 Years, Market Cap Exceeds $200 Billion (Comprehensive)
2025-07-18T11:38:42.000Z
XRP has surged to its all-time high, exceeding a market capitalization of $200 billion due to the passage of the GENIUS Act in the U.S. The GENIUS Act provides a federal regulatory framework for digital assets, benefiting Ripple, which has released its stablecoin RLUSD. Ripple's preparation includes establishing a national trust bank charter and obtaining a Federal Reserve master account to enhance RLUSD's market adoption. The legislative success aligns with Ripple's strategy to cement its standing in the digital asset market. Moreover, a potential executive order by President Trump could further unlock institutional investments into digital assets. The market perceives these developments as a positive turn, bolstering XRP's market position.
XRP's achievement of its all-time high market cap, standing at over $200 billion, illustrates the exceptional impact of regulatory changes on digital assets. The successful passage of the GENIUS Act in the U.S., which is designed to provide stable legal frameworks for digital currencies, has had a direct positive effect on Ripple's valuation. The Act supports Ripple’s stablecoin RLUSD, helping it navigate legal landscapes smoothly and potentially accelerating its market integration. Ripple's strategic moves, including efforts to secure a national trust bank charter and a Federal Reserve master account, are steps towards solidifying its position in the market under this new regulatory environment. These developments are not isolated; they suggest a broader acceptance and potential institutional interest in XRP as a viable investment. The possible executive order by President Trump to open up retirement markets to digital assets further strengthens this outlook, indicating a deepening institutional footprint in cryptocurrencies. This regulatory validation can contribute to sustained growth and increased investor confidence in XRP. In summary, the current string of legislative advances may signal the beginning of a more structured and less volatile future for digital currencies like XRP, encouraging further adoption and market participation.
[Block Media Reporter Myung Jung-sun] The digital asset XRP has broken its all-time high for the first time in seven years. As of the 18th (local time), XRP rose 14% in 24 hours, surpassing $3.5, and its market capitalization exceeded $206 billion. This figure solidifies its position as the third-largest cryptocurrency following Bitcoin and Ethereum. This rise is related to the passage of the GENIUS Act, CLARITY Act, and Anti-CBDC Act in the U.S. Congress. In particular, the GENIUS Act includes a framework for federal regulation of payment stablecoins, directly impacting Ripple's stablecoin RLUSD. Ripple has completed preparations to ensure RLUSD's regulatory compliance, including applying for a national trust bank charter, attempting to secure a Federal Reserve master account, and designating BNY Mellon as a depository trustee. If the GENIUS Act is enacted, the market adoption speed of RLUSD is expected to accelerate. Another factor contributing to the rise was reported by the Financial Times: U.S. President Donald Trump is considering an executive order to open the $9 trillion U.S. retirement market (including 401(k) plans) to alternative assets such as virtual assets, gold, and private equity. Following this news, a bullish trend spread across the cryptocurrency market, with Bitcoin nearing $121,000 and Ethereum recovering to $3,500. XRP attracted attention again by surpassing $3.4. The future trajectory of XRP depends on the resolution of the lawsuit between the SEC and Ripple. Ripple CEO Brad Garlinghouse stated that both parties plan to withdraw their appeals and focus on business execution rather than legal disputes. The market is also paying attention to whether a Ripple-related ETF will be approved. Just as the approval of a Bitcoin spot ETF led to institutional investment, it is anticipated that an approval of an XRP spot ETF might lead to demand from retirement funds, RIAs (Registered Investment Advisors), and asset management companies. ▶
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[Coin Market Update] U.S. House of Representatives Passes Three Digital Asset Bills... Bitcoin Recovers to $120,000, Ripple Surges 16%
2025-07-18T11:37:28.000Z
The U.S. House's approval of three significant digital asset bills has led to a surge in cryptocurrency prices with Bitcoin reaching $120,000 and Ripple increasing by 16%. The newly passed laws offer much-needed regulatory clarity, potentially benefiting Ripple and various other altcoins. The market reacted positively to the news, indicating a strong relationship between regulatory decisions and market performance. The laws, including the Digital Asset Clarity Bill, are designed to provide federal frameworks for stablecoins, digital assets, and prevent unwarranted CBDC surveillance. Due to these developments, investor confidence has increased, leading to a significant fluctuation in cryptocurrency prices. This marks an essential step for the industry as regulations might foster sustainable market growth.
The passage of digital asset bills by the U.S. House represents a monumental shift in the regulatory landscape for cryptocurrencies. The immediate positive response shown by Bitcoin and other cryptocurrencies like Ripple highlights the crucial role of regulatory clarity in the crypto market. The legislation facilitates a clearer operational framework and could lead to broader adoption of cryptocurrencies like Ripple, which is already experiencing price hikes due to these regulatory changes. The Global Clarity Act, which aims to establish structured regulations for digital assets, enhances investor confidence, as evidenced by the dramatic increase in Bitcoin and altcoin prices. It signifies the possibility of more stable market conditions and might attract institutional investments. As these laws prevent unwarranted surveillance of digital currencies, market stability could ensue, promoting healthier trading environments. This legislation also points towards a promising collaboration between crypto firms and regulatory bodies, aiming for innovation within a legal framework. Such proactive regulations potentially solidify the United States' position as a leader in the global digital currency space. Therefore, these developments are not just temporarily swaying market prices but could lead to long-term beneficial effects for the crypto ecosystem.
[Block Media Intern Reporter Kim Hae-won] The U.S. House of Representatives passed three bills related to digital assets, and the market reacted immediately. Bitcoin recovered the $120,000 level, and Ripple surged by more than 16%. As of 8:10 a.m. on the 18th, Bitcoin (BTC) on the domestic digital asset exchange Upbit is trading at 162,765,000 won, up 0.94% from the previous day. On the global exchange Binance, it is recorded at $119,825.55, up 1.06%. Bitcoin even reclaimed $120,000 intraday. At the same time, the CoinDesk 20 index rose 5.03%, with major tokens like Ethereum (ETH) up 3.71% and XRP up 15.47%. According to Coinglass, about $80 million (approximately 111.3 billion won) worth of Bitcoin was liquidated in the past 24 hours. Among them, about 62.83% were short positions. The total liquidation in the digital asset market was about $533.32 million (approximately 742.1 billion won), with about 50.79% being short positions. Overnight, the New York Stock Exchange rose collectively as consumer indicators exceeded expectations. According to the U.S. Department of Commerce, June retail sales increased by 0.6% compared to the previous month, significantly surpassing market expectations. The previous day on the New York Stock Exchange (NYSE), the Dow Jones Industrial Average rose 0.52% to close at 44,484.49. The S&P 500 index rose 0.54% to 6,297.36, and the Nasdaq index rose 0.75% to 20,885.65. Bitcoin's repeated fluctuations are interpreted as a result of buy orders flowing in simultaneously with the U.S. House passing three digital asset bills early in the morning. The U.S. House passed the 'Clarity Bill' to clarify regulations related to digital assets, the 'Prevention Act on Surveillance State Prohibition of CBDC' banning the Federal Reserve's central bank-issued digital currency (CBDC), and the 'Genius Bill' mandating the institutionalization of stablecoins. As a result, altcoins like Ripple are also on an upward trend. In particular, Ripple surged about 16%. Ripple Labs, which led the development of Ripple, introduced its first stablecoin, RLUSD, in December last year, and expectations are building that it will benefit from the passage of this bill. Meanwhile, the Alternative Fear & Greed Index, which reflects investor sentiment in the digital asset market, rose to 57.08 (Greed), up from the previous day. The index means fear (selling) the closer it is to 0, and greed (buying) the closer it is to 100.
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Policy expectations and Bitcoin reaching new all-time highs... Exchange marketing competition heats up
2025-07-18T11:35:59.000Z
Recent legislative progress in the U.S. and easing policy trends have brought positive momentum to the global cryptocurrency market. South Korean exchanges like Bithumb and Coinone are intensifying marketing efforts to capitalize on market changes. The passage of digital asset laws, including the Genius Act, has set a conducive atmosphere for cryptocurrency growth. Consequently, major cryptocurrencies such as Bitcoin and Ethereum have seen substantial price increases. South Korean exchanges are rapidly adjusting their strategies to attract new customers amidst these market trends. This strategic shift highlights the adaptability and competitive nature of major exchanges to thrive amid changing regulatory landscapes.
The positive trend in the crypto market, driven by recent legislative progress in the U.S. and regulatory easing, is having substantial ripple effects worldwide. South Korean exchanges like Bithumb and Coinone are capitalizing on these changes through aggressive marketing campaigns, showcasing the global interconnectedness of crypto markets. These actions are in direct response to the passing of significant U.S. digital asset legislation, including the Genius Act, which offers regulatory clarity. The market is responding favorably, with Bitcoin and Ethereum experiencing price surges as regulatory structures begin to align more closely with industry needs. This situation underscores the importance of international regulatory cooperation, where policy changes in one significant market can stimulate reactions globally. The aggressive approaches of South Korean exchanges indicate an anticipation of increased trading volume and customer engagement. By expanding their marketing efforts, these exchanges not only aim to increase their market share but also highlight the critical role of adaptability in the crypto market. Their actions reflect a broader trend where market players are striving to remain competitive in the face of rapidly evolving regulations. Overall, the scenario illustrates how positive legislative actions in one region can significantly impact global market dynamics, fostering a healthier, more expansive trading environment.
[Block Media Intern Reporter Kim Hae-won] A positive wind is blowing in the global virtual asset market, aided by the U.S.'s policy easing stance and legislative advancements related to digital assets. In South Korea, with the inauguration of the Lee Jae-myung government, there is a growing expectation of regulatory easing, leading to intensified competition among exchanges to attract customers. On the 17th (local time), all three digital asset bills passed the U.S. House of Representatives. The 'Genius Bill', which institutionalizes stablecoins, will be implemented immediately after President Trump's signing on the 18th. Alongside, the 'Clarity Bill (Digital Asset Structuring Bill)' and the 'CBDC (Central Bank Digital Asset) Surveillance Prevention Bill' also passed the House. Upon the news of the passage of the three digital asset bills, the market reacted immediately. As of 4:53 PM on the 18th (Korean time) on CoinMarketCap, Bitcoin is trading at approximately $119,580, up 0.99% over 24 hours. This is about a 58.3% increase from the low of $76,273 recorded on April 9th of this year. Ethereum is up 4.82% and Ripple (XRP) is up 9.97% over 24 hours. On the domestic exchange Upbit, it's being traded at about 161.23 million KRW. As a positive atmosphere spreads in the digital asset market, domestic exchanges are vigorously concentrating on marketing. According to a survey by <Block Media>, from April 1st to this day, Bithumb carried out 78 events, Coinone 72 events, and Upbit 19 events over about four months. Bithumb hot on multidimensional marketing, collaborating across various industries. Among the three exchanges, Bithumb held the most events during this period. They are especially striving to attract new members by partnering with various industries. This month alone, they have held events in partnership with Lotte World, KB Securities, GS25, and Brandi. This not only secures users but also signifies an expansion into living, distribution, finance, and fashion sectors. Additionally, they offered rewards for new and existing customers through a referral service and welcome missions. A Bithumb representative stated, “As collaborations across two industries are mainly being realized, Bithumb is also partnering with various sectors,” adding that “this indicates the connection between traditional and digital assets is not far off.” According to CoinGecko, Bithumb’s trading volume that day was approximately $2.848 billion (about 3.9633 trillion KRW), which is about a 345% increase compared to April 1st ($639.72 million, about 890.3 billion KRW). Coinone offers 78 events over four months… Accelerates customer acquisition, Coinone With the digital asset market regaining momentum, Coinone has embarked on an aggressive marketing strategy to attract customers. Approaches centered on real users are noticeable, from commission-free events to partnerships with lifestyle platforms. Coinone conducted a total of 78 events over roughly four months from April 1st. Major promotions during this period include partnership events with everyday apps like Yogiyo and CatchTable and a Bitcoin giveaway event held with KakaoBank. Particularly, the KakaoBank partnership event that started on the 7th focused on acquiring beginner customers to virtual assets by providing Bitcoin equivalent to 3,000 KRW to the first 100,000 new customers who registered coupons. A Coinone representative said, “We are increasing new inflow through events that emphasize accessibility in everyday life and actual rewards,” adding, “We plan to continue enhancing cost-effective marketing.” Meanwhile, trading volume also significantly increased. As of the 18th, Coinone's daily trading volume is about $2.284 billion (about 3.1785 trillion KRW), representing about a 278% increase compared to April 1st ($60.38 million, about 84 billion 248 million KRW). This shows that the aggressive marketing strategy is producing some results. Domestic transaction volume leader 'Upbit' takes cautious approach to marketing… “Plans gradual expansion” Domestically leading in virtual asset transaction volume, Upbit maintains brand stability while maintaining a cautious marketing approach. While the number of events is less compared to other major exchanges, the focus is on enhancing user experience and activating the NFT (non-fungible token) ecosystem. From April 1st, Upbit conducted a total of 19 marketing events over about four months. This is the smallest number compared to Bithumb (78 events) and Coinone (72 events) during the same period. An Upbit representative declared, “The marketing events will be gradually expanded,” foreseeing a long-term marketing strategy. The events were composed to be user-friendly and participatory rather than simple rewards. Besides the annually conducted 'Pizza Day Event', reward programs for participants of Ethereum and Polygon-based NFT transactions are notable. In June, they collaborated with Samsung Electronics to introduce the ‘Galaxy S25 Edge Upbit Exclusive’, also aimed at strengthening brand awareness. Meanwhile, Upbit’s trading volume is steadily increasing. As of this day, Upbit's daily trading volume is about $7.135 billion (about 9.9303 trillion KRW), representing about a 310% increase compared to April 1st (about $1.735 billion, about 2.4157 trillion KRW).
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"Ethereum is Attractive"…Institutions Invest 1.8 Trillion Won in Ethereum ETFs Over Two Days
2025-07-18T11:33:41.000Z
Institutional investments in Ethereum and Bitcoin ETFs continue to rise, exceeding $1.8 billion for Ethereum alone. This substantial inflow indicates a growing institutional interest in these cryptocurrencies. BlackRock's Ethereum ETF saw the largest capital influx among its peers, showcasing its strong position in the market. The continued positive flows into Bitcoin ETFs further demonstrate institutional confidence. As a result, both cryptocurrencies have experienced significant price increases. This trend signifies the maturation of the cryptocurrency market as it increasingly attracts institutional investors seeking diversification.
The substantial institutional inflow into Ethereum and Bitcoin ETFs underscores a pivotal shift in the cryptocurrency landscape. With over $1.8 billion invested in Ethereum ETFs, the data reflects an intensified institutional interest, marking a notable shift in investment paradigms. BlackRock, a significant player, has recorded the highest inflow in its Ethereum ETF, indicating strong investor confidence and BlackRock's robust standing in the crypto ETF market. Continuous inflows into Bitcoin ETFs, averaging $5.2 billion over a short period, highlight sustained institutional faith in cryptocurrency as an asset class. This trend is emblematic of the growing credibility and acceptance of digital currencies in mainstream finance. The price hikes in both Ethereum and Bitcoin further reinforce this perspective, as increased demand from institutional investors typically precipitates price increases. This influx of institutional money indicates a broader acceptance of cryptocurrencies as a core part of diversified portfolios. The narrative around digital currencies is slowly transitioning from speculative assets to a necessary part of strategic asset allocation within institutional portfolios. The growing maturity of the crypto market, as seen through these ETF investment patterns, signals a foundational change, promising a more dynamic and structured investment landscape in the future.
Bitcoin ETF sees $520 million net inflow... 11 consecutive trading days Block Media's Myung Jeong-seon reports: As Ethereum (ETH) prices surpass $3,500 bolstered by institutional buying, Exchange-Traded Funds (ETFs) are also witnessing large-scale capital inflows daily. According to FASSide Investors, on the 17th (local time), Ethereum spot ETFs saw an inflow of about $620 million, marking the second-largest net inflow ever. Notably, BlackRock’s ETHA received a significant inflow of $546.7 million, surpassing the previous day’s peak of $499 million within a single day. BlackRock’s ETHA has been seeing fresh capital inflows every day except for July 2. Other funds also experienced net inflows. Fidelity's FETH ($17.2 million), 21Shares' CETH ($3.8 million), Bitwise's ETHW ($4.4 million), and Grayscale's ETH ($29.9 million) all showed capital inflow trends. Although the inflow amount was less than the previous day ($726.6 million), with over $1.3 billion flowing in over two days, it evidences institutional investors’ focused interest in ETH. Meanwhile, Bitcoin (BTC) spot ETFs continued a strong flow of capital with 11 consecutive trading days of net inflows. As of the 17th, a total net inflow of $522.6 million was recorded. Although slightly lower than the previous day ($799.4 million), it remained at high levels. In terms of individual funds, BlackRock’s IBIT ($497.3 million), Fidelity's FBTC ($7.8 million), and VanEck’s HODL ($5.1 million) were leading the way. Especially, IBIT has been listed as the daily maximum inflow ETF in 10 out of the last 11 trading days. ETF capital flows indicate that institutional buying power is extending to both ETH and BTC. Thanks to this capital flow, Bitcoin has surpassed $120,000 again, and Ethereum is trading at $3,580, a 7% increase.
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Final Viewpoint
The recent surge in Bitcoin and other cryptocurrencies is largely attributed to increasing institutional investments and positive legislative developments. Institutional players are continuously showing strong interest, notably through crypto ETFs, indicating a shift towards maturity and credibility within the market. Legislative advancements, particularly in the U.S., have provided much-needed regulatory clarity, fostering investor confidence and spiking prices. This regulatory progress seems to encourage not only price hikes but also the broadening of digital asset adoption in financial ecosystems worldwide. Bitcoin has notably reflected these positive sentiments, reaching new price heights. In the past week, Bitcoin has experienced significant fluctuations, reaching as high as $123,218 but undergoing corrections to stabilize around $119,000-$120,000. Over the last 24 hours, the trading range has seen some volatility, oscillating between $117,000 and $120,500. Based on current market dynamics and sustained institutional interest coupled with regulatory support, it is likely Bitcoin will continue its upward trend in the near future, potentially aiming towards breaking past previous highs if these supportive factors remain constant.
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