Cryptocurrencies are recording collective gains in mid-trading on Monday, July 14, the opening session of the week. Bitcoin, the world’s most expensive cryptocurrency, rose for the fifth consecutive session, hitting a new record high of $122,000. This coincided with rising optimism over the passage of the US Digital Currency Regulatory Act and increased institutional demand, which supported the rise in the market value of cryptocurrencies.
This optimism in the markets stems from increased appetite among digital currency traders following the announcement of this week as Cryptocurrency Week. Members of Congress are expected to vote this week on a package of cryptocurrency legislation, such as the GENIUS Stablecoin Regulation Act and the State Oversight of Stablecoin Banks Act. Institutional demand for cryptocurrencies, and Bitcoin in particular, has contributed to record highs for the currency. Bitcoin exchange-traded funds (ETFs) recorded their largest daily inflows in 2025 at the end of last week, at $1.18 billion. This followed an additional $2.7 billion inflow last week, marking the fifth-largest weekly inflow since their launch in January. The combined assets of the 12 ETFs now hold approximately $151 billion.
The combined market capitalization of the cryptocurrency market, according to Coingecko, which lists more than 17,000 cryptocurrencies, rose by approximately 2.4% on Thursday, bringing the market capitalization to $3.64 trillion. Bitcoin is trading at $122,100, up approximately 3.90% in mid-day trading, after hitting $123,250 at the beginning of the European session, marking a new record high with a market capitalization estimated at $2.422 trillion. Ethereum, the second-largest digital currency, is rising approximately 2.76%, trading at $3,035, with a market capitalization estimated at $366 billion.
XRP, or Ripple, jumped to third place in terms of market capitalization, rising approximately 6.50% today, topping the list of the top 10 most profitable coins. It is trading at $2.96, with a market capitalization estimated at $175 billion. Dogecoin is up around 4%, trading at $0.2057, with a market cap of $30 billion. Cardano is up around 2.89%, trading at $0.7506, with a market cap of around $26 billion. Solana is up around 2.18%, trading at $166, with a market cap of $89 billion. TRON is up 1%, trading at $0.3030, with a market cap of $28 billion.