Bitcoin rallied 23.5% to $77,559, while ethereum climbed 31.1% to $2,456 and XRP surged 53.3% to $1.52. The total cryptocurrency market cap reached $2.63 trillion according to CoinMarketCap. The rally was attributed to inflation, record deficit spending and US Treasury policy as the national debt crossed $40 trillion. President Donald Trump reiterated his call for the CLARITY Act passage during a meeting with crypto executives, also boosting Hyperliquid’s price by 20%. Meanwhile, the SEC proposed new rules providing exemptions for crypto projects, and the MANTRA platform suspended blockchain operations due to an ongoing security incident under investigation.
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