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Genius Act an 'Important Statement' on Crypto, Says Rep. Huizenga
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July 18, 2025
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7:21Now PlayingMichigan Republican Congressman Bill Huizenga talks 'crypto week' in the House and says that the 'Genius Act' stablecoin legislation is an important statement for congress to make on the future of cryptocurrency in the United States
he total market value of cryptoassets surged past $4 trillion for the first time, driven by a rally in altcoins and momentum from a sweeping US legislative push to regulate the sector.
The options market shows traders are increasing bets for even higher prices in the weeks ahead.
“Bitcoin’s path to $150,000 looks increasingly inevitable,” said Fadi Aboualfa, head of research at Copper. The original cryptocurrency accounts for about 60% of the entire digital market’s value.
The milestone followed the passage of the first-ever federal legislation for stablecoins, a key accomplishment during what lawmakers have dubbed “Crypto Week.” The bill, backed by Republicans and championed by President Donald Trump, introduces federal or state oversight of dollar-linked stablecoin, aiming to legitimize a $265 billion market that Citigroup Inc. analysts project could grow to $3.7 trillion by 2030.
Altcoins — a catch-all term for tokens besides Bitcoin — led the latest leg of the rally, with Ether jumping 20% this week. Bitcoin hit a record $123,205 on Monday. Uniswap surged as much as 24% on Friday, while Solana gained 6.5% at one point.
The smaller and more volatile tokens had underperformed through most of Bitcoin’s record-breaking run.
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