Approximately $215 billion flowed into the altcoin market over a 72-hour period between August 19 and August 22, pushing the total altcoin market capitalization back above the $1 trillion mark with a 24% increase. This surge was triggered by President Donald Trump’s announcement regarding plans for the US government to purchase Bitcoin on a large scale and his call for Congress to advance the CLARITY Act. Currently, 56% of altcoins listed on Binance have reclaimed their 200-day moving average, and the Altcoin Season Index stands at 49, well below the 75 threshold typically used to confirm an altseason.
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