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Core Viewpoint - The cryptocurrency market has experienced a significant rally, driven by positive regulatory developments and increased institutional interest in digital assets [2][3][4]. Group 1: Cryptocurrency Market Performance - On July 18, major cryptocurrencies such as Ethereum and XRP saw substantial gains, with Ethereum rising over 8% and XRP nearly 20% [1][3]. - The total market capitalization of cryptocurrencies surpassed $4 trillion for the first time, indicating a structural repositioning of cryptocurrencies within the global financial system [3]. - Bitcoin's performance lagged behind other altcoins, with a maximum intraday increase of less than 2%, suggesting a shift in market dynamics towards emerging altcoins [3]. Group 2: Regulatory Developments - The U.S. House of Representatives passed several bills related to cryptocurrencies, including the "Stablecoin Innovation Act," which aims to establish a regulatory framework for stablecoins [3][4]. - The "Digital Asset Market Clarity Act" was also approved, seeking to clarify the regulatory scope of the SEC and CFTC over the cryptocurrency market [4]. - These legislative actions are expected to enhance clarity and stability in the cryptocurrency market, potentially attracting more institutional investment [5]. Group 3: Impact of Trump's Executive Order - President Trump's anticipated executive order will allow approximately $9 trillion in U.S. 401(k) retirement savings plans to invest in alternative assets, including cryptocurrencies [6][9]. - This move is expected to transform the management of retirement funds in the U.S., opening up new investment opportunities for individuals [6][7]. - The order may also benefit major private equity firms like Blackstone and Apollo, which are looking to tap into the 401(k) market, potentially attracting hundreds of billions in new capital [8][9].