Weekly Crypto Recap: Bitcoin Rises as ZEC Deliver Strong Gains

Key Takeaways

• Bitcoin hit a 3-month high over $82,200 on Sept 3, driving total crypto market cap to a peak of $2.82T.
• Zcash jumped nearly 40% past $1,200, displacing HYPE to enter the top 10 assets with 2.2% altcoin market growth.
• BNB, XMR, and ADA posted 7% gains, while ETH fell 0.5% heading into the second week of September.

A Volatile Week Ends in Green

The crypto market ended the first week of September on a high note despite a pullback that dragged its aggregate capitalization under $2.8 trillion. Market data shows the week opened just above $2.71 trillion before mid-week volatility left values largely flat. A subsequent marketwide rally propelled total capitalization to a weekly peak of $2.82 trillion. Despite a pullback following U.S. jobs data, the crypto market held onto a 2% weekly gain.

Bitcoin again led the crypto market with its Thursday surge to over $82,200, its highest level in more than three months, helping propel the aggregate market cap past $2.8 trillion. While the top cryptocurrency’s quick reversal ate into its gains, its late recovery allowed its price to close the week 1.2% higher with a $1.6 trillion market capitalization.

While bitcoin turned in another modest performance, altcoins diverged: several posted solid gains while a few slipped into the red. Zcash (ZEC) led the pack, surging nearly 40% after topping $1,200 for the first time since late 2016. As the only large-cap altcoin with double-digit weekly growth, ZEC reentered the top digital assets by market cap, displacing HYPE to secure the ninth spot.