Crypto Market Adds $430 Billion in Six Days as XRP Jumps 48%

Forecast Trend Report by Period

The global cryptocurrency market has added more than $430 billion in less than a week. After Bitcoin regained the $80,000 level, buying spread to major tokens including Ether, Solana and XRP, fueling the steepest rally in months.

CoinGecko data show the global crypto market’s capitalization reached $2.68 trillion on Aug. 24, up about 19% from roughly $2.25 trillion a week earlier. Profit-taking emerged afterward, but the total market value still held near $2.7 trillion on Aug. 28.

Bitcoin gained 23% over seven days to $78,995 during the rally and briefly climbed above $80,000 for the first time since May. Ether rose 30% over the same period to $2,481, while Solana advanced 28% to $96.82. XRP surged 48% to $1.48, the biggest gain among major cryptocurrencies.

Expectations for US liquidity support and moves to improve the regulatory framework helped drive the rally. Optimism grew after the US Treasury said it would expand buybacks of long-term Treasuries, raising hopes that pressure from rising market interest rates could ease. Investor sentiment also improved after President Donald Trump urged Congress to advance cryptocurrency legislation. US spot Bitcoin exchange-traded funds posted about $1.92 billion in net inflows in the week ended Aug. 21.

Still, the jump in market capitalization does not mean $430 billion of fresh money flowed into the market. QCP Capital, a Singapore-based digital-asset investment firm, said falling derivatives open interest suggests the rally was driven not only by new buying but also by forced liquidations of short positions. With hawkish remarks from Federal Reserve Chair Kevin Warsh stoking concern about a September rate increase, ETF flows and US interest rates will likely determine whether the rally can continue.

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Source: en.bloomingbit.io