"As long as ETF flows remain stable and there are no macroeconomic shocks, this rally has room to continue," said analysts at ZA Miner.

The bull is running. All top 10 coins and nearly all 100 coins per market cap saw their prices rise in the last 24 hours as a result of the ongoing crypto ETF positive flows and regulatory advancements, particularly in the stablecoin sector. At the same time, the cryptocurrency market capitalization has increased by 1.1% to $3.61 trillion. The total crypto trading volume is at $198 billion, the highest we’ve seen in weeks.

Crypto Winners & Losers

All top 10 coins per market cap have appreciated over the past day. Cardano (ADA) is the day’s best performer, for the second day in a row. It’s up 3.6% to $0.7876.

Bitcoin (BTC) follows with a rise of 3.4%, currently trading at $111,187. The world’s number one coin has been testing new all-time highs for several hours now. At the time of writing, its highest local and all-time price is $111,544.

At the same time, Ethereum (ETH) appreciated 0.9%, now changing hands at $2,623. It’s daily high is $2,631, the same level as yesterday.

Furthermore, of the top 100 coins, only seven are red today, all with decreases between Maker (MKR)’s 0.6% and Aave (AAVE)’s 3.4%. The two trade at $1,762 and $252, respectively.

The rally drivers remain the same: it’s a powerful combination of significant surge in crypto exchange-traded fund (ETF) inflows and favorable regulatory developments, further boosted by the somewhat improved US-China trade sentiment and a US sovereign debt credit downgrade by Moody’s. As a result, risk capital has been diverted back into crypto.

The sector seems to be winning a battle towards clearer regulations. The US Senate has voted to advance the GENIUS Act. Blockchain Association Interim CEO and Head of Policy, Sarah Milby, described the move as “a meaningful step toward establishing clear, common sense rules for stablecoins.”

The CEO of cryptocurrency investment company ZA Miner believes that the bill will legalize the use of mainstream stablecoins and will drive the market size of this field from US$236 billion to US$2.5 trillion.

May 22, 2025