Crypto Market Surges $500B in One Week to $2.74T

The global cryptocurrency market has experienced a significant surge in value over the past week, adding approximately $500 billion to its total market capitalization. This brings the current market cap to around $2.74 trillion.

Bitcoin (BTC) played a leading role in this recovery, surpassing the $79,000 mark after trading below $65,000 earlier in August. Ethereum (ETH) also experienced significant gains, moving above $3,000 as major tokens recorded substantial weekly increases.

The increased demand for Bitcoin was partly driven by strong inflows into US spot Bitcoin ETFs. This, combined with higher trading activity across both spot and derivatives markets, contributed to the overall market recovery.