Cryptocurrency prices surged during trading on Tuesday, amid ongoing discussions regarding trade relations between the United States and China, as well as an increasing interest from companies in digital assets.

Bitcoin, the largest cryptocurrency by market capitalization, rose by 2.5% to reach $109,504.

The digital currency now holds approximately 62.8% of the total cryptocurrency market value.

Ethereum, the second-largest cryptocurrency, saw an increase of 6.7%, bringing its price to $2,693, while Solana rose by 2.12% to $159.

Additionally, Dogecoin increased by 4.2% to $0.19, and XRP climbed 1.6% to $2.29.

The total global market capitalization for cryptocurrencies reached $3.41 trillion, with a total trading volume of $135.16 billion over the past 24 hours, according to data from market analytics.

In related news, London-listed company Smarter Web has increased its Bitcoin reserves by purchasing approximately 45.32 units of the leading cryptocurrency.

This acquisition has brought the total holdings of Bitcoin for the company to 168 units.

On a different note, U.S. authorities have announced serious charges against the founder of a digital payments company based in the United States for operating an international money laundering network valued at over $500 million.

The network allegedly benefitted sanctioned Russian banks and other institutions.

The accused, Yuri Gougine, a 38-year-old Russian resident of Manhattan, was arrested on Monday and faces 22 counts including bank fraud, violations of U.S. sanctions, money laundering, and disregard for anti-money laundering laws.

The U.S. Department of Justice stated that Gougine transformed his company into 'a secret channel for dirty money,' using his firms Evita Investments and Evita Pay to process over $530 million between June 2023 and January 2025 through the U.S. financial system and cryptocurrency platforms, primarily utilizing the stablecoin Tether, which is pegged to the U.S. dollar.