Altcoins add $215 billion as market capitalization surges 24% in three days

Altcoins added $215 billion in combined market capitalization between Aug. 19 and Aug. 22, lifting TOTAL2, the value of crypto assets excluding Bitcoin, more than 24% and back above $1 trillion. CryptoQuant analyst Darkfost said 56% of Binance-listed altcoins had reclaimed their 200-day moving averages, reversing a period when 80% to 85% traded below that level. The move may mark the early stages of an altseason, when alternative cryptocurrencies outperform Bitcoin, but it does not confirm a sustained trend. The Altcoin Season Index was 49 on Aug. 23, below the 75 level commonly used to confirm an altseason, while Bitcoin dominance remained near 59.69%. Bitcoin rose from roughly $63,000 to nearly $80,000 over the same period, supported by aggressive spot buying, stronger ETF inflows and rising activity; more than $1.9 billion entered Bitcoin ETFs last week, the strongest stretch since Bitcoin last traded above $80,000. Funding rates for 85% of altcoins were above their historical averages, increasing correction risk if Bitcoin loses its reclaimed $75,000-$76,000 cost-basis zone. The newer brief characterized the $215 billion move as inflows, while the fuller market data described it as an increase in altcoin market capitalization.

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