Bitcoin Rises as Crypto Market Capitalization Hits $2.22 Trillion Amid CLARITY Act Hopes
Bitcoin finished the week higher after gaining 4.16% in value as the total crypto market capitalization rose by 2.30% to $2.22 trillion.
The CLARITY Act, a bill aimed at regulating the cryptocurrency industry, continues to be a topic of discussion among lawmakers and stakeholders. Despite concerns over ethics, enforcement powers, and political conflicts, the passage odds for the bill have improved, according to prediction-market estimates.
Several cross-chain systems reported attacks during the week, including AFX Trade and Allbridge, which lost $24.15 million and $1.65 million respectively due to compromised validator signatures and flash-loan attacks.
On a more positive note, institutional deals provided a boost to the market with Crypto.com announcing a $400 million investment from Citadel Securities at a $20 billion valuation.