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The total market value of cryptocurrencies rose to $2.06 trillion on Saturday as bitcoin Cardano, XRP and Dogecoin continued to climb.
Bitcoin reached as high as $48,152, the highest level since May 16.
Cardano, the third-ranked cryptocurrency after bitcoin and Ether soared 47 percent over the past seven days.
XRP gained 61 percent, Dogecoin 18 percent, and Binance Coin 14 percent over the same period, according to CoinGecko pricing.
The price increases came even after the cryptocurrency industry failed in its attempts to make changes in the crypto tax reporting rules of a US infrastructure bill.
NYDIG Global Head of Research Greg Cipolaro said they interpreted Bitcoin's resilient price action as extremely bullish and that the lawmakers' recognition of the crypto industry was ultimately a legitimizing event that should give investors comfort that this industry is here to stay.
