Crypto Market Soars to New Heights Amid Institutional Gains and Regulatory Milestones

The crypto market experienced significant upward movement this week, with Bitcoin surpassing $110,700, marking a 47% increase since April's lows. The total market capitalization reached $3.51 trillion, with daily trading volumes exceeding $171 billion. Large investors, or whales, accumulated over 25,000 BTC within 24 hours. Coinbase's inclusion in the S&P 500 contributed to a 13% stock price jump, indicating strong institutional confidence. The Senate passed the GENIUS Act, establishing stablecoin backing requirements, which could impact the stability and regulation of the sector. XRP launched a futures ETF on Nasdaq, signaling mainstream acceptance. However, the Sui network faced a theft of approximately $260 million via the Cetus Protocol exploit, causing a 15% drop in SUI's price. Coinbase also experienced a data breach, with efforts underway to identify the hackers. Institutional investors increased their Bitcoin holdings, with Semler Scientific adding $50 million worth, and BlackRock’s ETF displaying record inflows. Market sentiment remains bullish, with the Fear & Greed Index at 72.