Not all the quoted money is actually there.

The only real money being spend are the transactions on the exchanges. There, it becomes hard to differentiate many 'real' buys of bitcoin cash from someone just flipping back and forth between the two.

From people who are willing to exchange 'real'-money backed numbers ('fiat') with might-have-some-worth-soon numbers.

Other than Bitcoin Core most of the popular alt coins have come down in price during this rally so many traders are just exchanging one cryptocurrency for another.