Is Altcoin Season Finally Coming? Market Just Added $215 Billion
The altcoin market cap surged by $215 billion between August 19 and 22, a gain of more than 24% in 3 days, pushing Total2 back above $1 trillion. Key indicators, however, suggest altseason remains unconfirmed.
The rally followed President Donald Trump's August 19 White House meeting with crypto executives. Since then, the market has cooled, with the global crypto market cap down 5.51% over the past 24 hours to $2.57 trillion.
Trump Remarks Spark a Broad Altcoin Rebound
At the meeting, Trump urged Congress to pass a "fair version" of the CLARITY Act and said a "sizable" government Bitcoin (BTC) purchase has been discussed. Bitcoin subsequently broke above $70,000 for the first time since June.
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