Crypto Market Adds $500 Billion as Total Value Hits Record High

The cryptocurrency market witnessed a significant surge in the third week of August, adding $500 billion to its total market capitalization and reaching a peak of $2.74 trillion.

This growth was fueled by a U.S. Treasury bond buyback announcement and a White House meeting reaffirming the Trump administration's support for the sector.

Bitcoin led the charge, finishing the week up 22% after breaching $80,000 on August 21, with its market capitalization reaching $1.55 trillion and narrowing its year-to-date losses to roughly 12%.

Zcash emerged as the top performer among altcoins, surging nearly 70% to peak just above $873, while XRP saw significant momentum with a 51% weekly gain.