Bitcoin jumps 25 percent in August; 83 percent of top crypto tokens also rise

In August, more than 80 percent of the top cryptocurrencies by market value rose, producing the broadest rally of the year in the crypto market.

On Aug. 8 (all times local), blockchain media outlet CoinPost reported that CryptoRank, in a monthly analysis, counted 70 of 84 tokens among the top 100 excluding stablecoins as rising in August, or 83 percent.

This rebound differed from a market in which only bitcoin rises. In June, 87 percent of the same 84 tokens fell, but the balance flipped to gains in just 8 weeks. CryptoRank pointed to this sharp reversal as the core of August trading.

Monthly performance for bitcoin and ethereum also stood out. Bitcoin rose 25 percent in August, posting the third-highest August gain on record and the strongest August momentum since 2017. Ethereum gained 32.5 percent, marking its best August result since 2021.

Still, an assessment emerged that the overall market did not immediately move into a typical altseason. The top 100 altcoins as a whole rose 26.5 percent in bitcoin terms, slightly above bitcoin's 24.5 percent gain, but the median rise for individual tokens was 17 percent. CryptoRank said some large and mid-sized tokens lifted the index and that the "altseason index" stayed below 40 points. That means altcoins have not fully taken market leadership.