The crypto economy gained 2% over the first week of September, peaking at $2.82 trillion before a pullback brought aggregate capitalization back 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, and despite a pullback following U.S. jobs data, the market held onto a 2% weekly gain.
Bitcoin led the crypto market with a surge to over $82,200 on September 3, hitting its highest level in more than three months. While the leading cryptocurrency experienced a quick reversal that ate into its gains, a late recovery allowed its price to close the week 1.2% higher with a $1.6 trillion market capitalization.
Altcoins diverged during the week as several posted solid gains while others 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 and contributing to a 2.2% growth in the altcoin market, which rose from $1.15 trillion to $1.17 trillion.
Significant gains were also recorded by BNB, which hit a multi-month high of $779 on September 5 and briefly pushed its market capitalization past $100 billion before consolidating just below $750 to leave it with a 7% weekly gain. XMR and ADA also jumped by 7%, while the rest of the altcoins logged gains ranging between 1.2% and 6%.
Meanwhile, ethereum (ETH) fell by a marginal 0.5% heading into the second week of September. Other high-profile losses included XRP and SOL, which both fell 0.4%, alongside TRX down 1.6%, RAIN down 3.5%, and LEO down 2.9%.
