Trump's Crypto Meeting Triggers $215 Billion Altcoin Surge

President Donald Trump's meeting with crypto executives on August 19 sparked a $215 billion surge in altcoin market value, with major-cap alts rebounding after his comments on US crypto policy.

Trump called for Congress to pass the CLARITY Act and emphasized the need for the United States to remain a global leader in Bitcoin and other digital assets. Although no formal government purchase plan or regulatory approval was announced, the prospect of a more accommodating environment drove a rapid repricing across major tokens.

Ethereum led the pack with an 18% price increase in 24 hours, wiping out over $3 billion in leveraged positions as heavily positioned traders were caught off guard. Mid-cap and smaller tokens also surged, lifting the market capitalization of cryptocurrencies excluding Bitcoin above $1 trillion.