Crypto went from quiet to disorderly. Major assets posted double-digit gains, several smaller tokens nearly doubled, and sentiment moved deeper into greed. One number did not fit the pattern: reported total market capitalization fell 51.52% week over week.
What happened
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Large caps rallied across the board. Bitcoin gained 22.7% to $77,246, Ethereum rose 30.3% to $2,440.47, and Solana advanced 26.3% to $95.16. XRP led this group with a 50.4% weekly gain, its strongest weekly performance in 21 months according to CoinDesk.
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Zcash was the standout major asset. ZEC climbed 74.2% to $858.08, making it both a top-five weekly gainer and the strongest performer among the listed large caps. Hyperliquid gained 39.2%, while Dogecoin added 31.8%.
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Several tokens nearly doubled. Ethena rose 98.4%, Stacks gained 96.2%, Official Trump advanced 92.7%, and Pump.fun increased 91.6%. The dispersion remained severe: Humanity dropped 49.5%, Velvet lost 34.8%, and Kinesis Silver declined 23.9%.
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Sentiment strengthened. The Fear & Greed Index moved from 62 to 66, remaining in “Greed,” with a weekly average of 67.8. Reports that Bitcoin and Ethereum ETF inflows reached a 10-month high accompanied the broader rally.
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The aggregate figure diverged sharply. Reported total market capitalization fell from $89.87 billion to $43.56 billion, a 51.52% decline. That conflicts with the broad gains shown across major assets, so the figure warrants caution when interpreting the week.
What to watch next week
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Follow-through versus reversal: Gains above 90% in ENA, STX, TRUMP, and PUMP leave these markets exposed to sharp two-way volatility.
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Large-cap leadership: Watch whether XRP, ZEC, and HYPE retain momentum or whether activity rotates back toward BTC and ETH.
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Sentiment and data consistency: Greed is rising, but the reported market-cap contraction points the other way. Confirming whether that divergence persists will be critical for reading overall market breadth.