Crypto Markets Rise as Monero Hits New High and U.S. Policy Pressure Builds
Crypto majors traded higher, with Bitcoin near $92,000 and Monero setting a new all-time high before easing. The move came alongside fresh U.S. crypto policy developments, regulatory pressure on prediction markets, and new activity from firms including World Liberty Financial and BitGo.
What happened?
Crypto majors traded higher, with Bitcoin near $92,000 and Monero setting a new all-time high before easing. The move came alongside fresh U.S. crypto policy developments, regulatory pressure on prediction markets, and new activity from firms including World Liberty Financial and BitGo.
Why it matters
Crypto markets were broadly green, with Bitcoin up 1.5% at $92,000, Ethereum up 1% at $3,130, Solana up 2% at $142, and XRP gaining 1% to $2.06. Among leading movers, DASH rose 60%, IP gained 30%, and Monero climbed 13% after reaching a new all-time high of $680 before pulling back to around $640.
Crypto markets were broadly green, with Bitcoin up 1.5% at $92,000, Ethereum up 1% at $3,130, Solana up 2% at $142, and XRP gaining 1% to $2.06. Among leading movers, DASH rose 60%, IP gained 30%, and Monero climbed 13% after reaching a new all-time high of $680 before pulling back to around $640.
The moves matter because they show risk appetite returning across both major crypto assets and selected altcoins, while privacy-focused Monero’s record high highlights continued demand in parts of the market outside the largest tokens. The broader macro backdrop also remained active, with gold and silver reaching new all-time highs again in the wake of the Powell investigation.
Policy remained a central theme in Washington. The U.S. Senate released a draft of the Crypto Market Clarity Act, which includes limits on stablecoin rewards, while Senator Elizabeth Warren pressed the SEC over the inclusion of crypto in 401(k) plans, arguing that such products expose retirees to excessive risk.
Stablecoins were also in focus beyond Capitol Hill. Ethereum co-founder Vitalik Buterin warned that crypto needs better decentralized stablecoins, pointing to risks such as governance capture and inflation. Separately, World Liberty Financial launched a crypto lending platform built around its USD1 stablecoin and attracted about $20 million.
Company and regulatory developments added to the busy market backdrop. BitGo filed for a U.S. IPO targeting a valuation of about $2 billion, with custody assets surpassing $100 billion. In Tennessee, regulators ordered Polymarket, Kalshi, and Crypto.com to halt sports prediction markets and refund users, escalating a multi-state legal fight over the sector.