Crypto Market Explodes: $200B Surge as Ethereum (ETH) Hits $4.2K—Weekend Rally Unleashed
Crypto bulls are back with a vengeance. The total market cap just rocketed by $200 billion in days—while Ethereum punched through $4,200 like it was tissue paper. Here’s what’s fueling the frenzy.
ETH Leads the Charge
Ethereum isn’t just climbing—it’s mooning. The breakout past $4.2K signals institutional FOMO, with traders piling into altcoins like Wall Street discovered leverage for the first time.
Altcoins Catch the Wave
From Solana to Avalanche, the ETH rally dragged the entire mid-cap sector up. Even Bitcoin grudgingly tagged along—though it’s still playing second fiddle this cycle.
The Cynical Take
Of course, this surge coincides with hedge funds quietly closing their Q3 books. How convenient that crypto always pumps when traditional markets need a distraction.
One thing’s clear: when ETH moves, the market follows. Whether this is sustainable or just another liquidity mirage? That’s the $200 billion question.
BTC Dominance Drops
August started on the wrong foot for bitcoin, which started to lose value rapidly due to overall global economic uncertainty and Trump’s controversial actions that had a few nuclear submarines MOVE close to Russia’s borders. The culmination took place on August 3 when BTC slumped to a multi-week low of just under $112,000.
Nevertheless, the bulls stepped up in the following days and didn’t allow a breakdown below $110,000. Just the opposite, the cryptocurrency started to recover and bounced to almost $118,000 yesterday, which became a 9-day high.
It failed there and now stands at around $117,000. Its market capitalization has calmed at approximately $2.330 trillion, while its dominance over the altcoins has taken a major hit. The metric is down to 58% on CoinGecko, which means that it has declined by 2% in just a few days.
Alts Take Main Stage
Altseason speculations are running rampant once again as many alts have produced impressive gains over the past days. ethereum is leading the pack, with a massive surge to a three-and-a-half-year high of $4,200.
DOGE, LINK, and HYPE are the other notable gainers from the larger-cap alts, with price pumps of up to 8%. CRO, UNI, XMR, and many other mid-cap alts have also performed incredibly since yesterday. ENA has taken the spotlight, with a mindblowing 20% surge that has taken it to $0.73. PEPE follows suits, with an 11% pump.
Pi Network’s token has reacted well to the recent declines and is up by 10% to $0.4.
The cumulative market cap of all crypto assets has gained almost $200 billion since Thursday and is beyond $4 trillion once again.
