Crypto Weekly: ADA and Privacy Coins Outperform While XRP Slides

Bitcoin Reclaims $65,000 Despite CLARITY Act Setback

The first week of August delivered strong momentum across the cryptocurrency market, with aggregate market capitalization surging from a low under $2.2 trillion to reach $2.9 trillion by Aug. 8. Bitcoin spearheaded the rally, reclaiming the $65,000 threshold for the first time in August and lifting its total market cap back past $1.3 trillion.

Market data shows bitcoin gained over 3% over seven days, ascending from $62,721 to a peak just above $65,300 on Friday before consolidating above key support. Crucially, bitcoin secured these gains despite regulatory headwinds following the U.S. Senate’s failure to pass the CLARITY Act.

While bitcoin anchored the broader market, Cardano ($ADA) emerged as the week’s standout performer, logging double-digit gains for the second consecutive week. $ADA rallied from $0.174 to hit $0.211 on Aug. 6—a high not seen since June 4—fueled by news of a strategic integration between Cardano and the Injective protocol. Despite this short-term breakout, $ADA remains down nearly 30% over a 90-day horizon.

Privacy-focused assets also caught a bid, with ZEC and XMR jumping 8% and 7%, respectively. Large-cap altcoins mirrored the positive sentiment: BNB rose 5% to reclaim the psychological $600 level, matched by gains in SOL and HYPE. Gold-backed tokens PAXG and XAUT advanced over 7% in tandem with spot gold, which rallied from $4,233 per ounce to a Friday high of $4,364.