Crypto market adds $500B; cap reaches $2.74T
Global crypto market cap rose $500B to about $2.74T after a U.S. Treasury bond buyback announcement and a White House meeting signaling support.
The global cryptocurrency market added about $500 billion in the week ending Aug. 23, 2026, lifting total market capitalization to roughly $2.74 trillion. The gains followed a U.S. Treasury announcement of a bond buyback and a White House meeting in which the Trump administration expressed support for the crypto sector.
Bitcoin led the rally, rising about 22% for the week. The token briefly approached $80,000 on Aug. 21, fell below $76,000 and then recovered above $77,000. Bitcoin’s market value reached about $1.55 trillion and its year-to-date loss narrowed to roughly 12%, compared with nearly a 30% drawdown at the start of August.
Major altcoins recorded broad advances. Zcash climbed nearly 70% from roughly $490 on Aug. 16 to just above $873, pushing its market capitalization past $14.5 billion. XRP rose about 51%, trading near $1.70 on Aug. 22 before easing to above $1.50. Hyperliquid’s native token HYPE hit a record $82.43 over the weekend, bringing its market capitalization near $18 billion after opening the year around $25.
Most large-cap tokens posted weekly gains above 20%, with TRX, BNB, RAIN, XMR and LEO as exceptions. A small number of tokens declined: WLFI fell about 5%, while BEAT and H dropped roughly 63% and 50%, respectively.
Market participants linked the rally to the Treasury’s bond buyback, which market observers saw as a measure that could support liquidity and reduce yields, and to the White House meeting that signaled policy backing for the sector. The total market cap reached its highest level since early May, reversing losses from earlier in August.
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