Big news this week in the crypto world as XLM appears set to follow in the footsteps of XRP’s impressive price surge. Meanwhile, President Trump has given a significant nod to the industry. Here’s the lowdown on the week’s cryptocurrency happenings, from July 13 to 19.
One highlight of the week was US President Donald Trump signing the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act into law. This significant move for the crypto and blockchain sector was witnessed by many key players in the industry, including high-ranking Republicans and an array of cryptocurrency company executives.
Another notable trend is the increasing use of cryptocurrency for everyday purchases and high-value transactions across various user groups. A report from Bitget Wallet indicates that Gen Z and Gen X users are leading the way in this trend, showing a growing interest in the practical use of crypto.
In other news, Dave Portnoy, founder of Barstool Sports, expressed regret over selling most of his XRP just weeks before it reached new annual highs. He lamented over potentially lost profits and expressed his disappointment in divesting from XRP.
Meanwhile, a Satoshi-era Bitcoin whale moved their remaining Bitcoin holdings to Galaxy Digital, adding to the massive Bitcoin transfer made to the asset manager earlier this week.
Moreover, President Trump is reportedly planning to sign an executive order that could potentially allow American retirement plans to invest in cryptocurrencies and other alternative assets.
As the week concludes, Bitcoin is trading at $118,281, Ether at $3,553, and XRP at $3.43 with a total market cap of $3.85 trillion.
Various memorable quotes from industry figures and predictions for Stellar’s XLM have also marked the week. Notably, Stellar’s XLM appears set for a 35% price rally, mirroring XRP’s recent surge.
However, the week also saw its share of concerns, such as the imprisonment of a former UK officer for Bitcoin theft during the Silk Road 2.0 probe and the mounting lawsuits against Michael Saylor’s company, Strategy. Furthermore, the IMF reported that El Salvador hasn’t purchased any new Bitcoin since signing a loan agreement in December 2024.
