Altcoins Surge 24% as Trump Pushes Digital-Asset Legislation

The crypto market experienced a significant surge in altcoins last week, driven by Donald Trump's push for digital-asset legislation. The total market capitalization of altcoins, tracked by Total2, rose more than 24% over three days and surpassed the $1 trillion threshold.

This move followed Trump's August 19 White House summit with crypto executives, regulators, and financial-industry representatives, where he called for a 'fair version' of the CLARITY Act. Bitcoin subsequently broke above $70,000 for the first time since June, while higher-beta cryptocurrencies also gained ground.

However, the rally's strength is still uncertain, with some analysts pointing to improving market breadth but not yet confirmation signals from Bitcoin dominance or the Altcoin Season Index. The Senate has postponed consideration of the CLARITY Act until September 15, which could provide a key catalyst for further rotation into smaller assets.