Crypto markets experienced a powerful rebound in the past 24 hours, with major altcoins like Cardano (ADA), Dogecoin (DOGE), and XRP posting double-digit gains. The surge follows the passage of the GENIUS Act, a key pro-crypto legislation, alongside renewed demand for Ethereum (ETH) from institutions.
ETH Leads Market, Inspires Altcoin Rotation
Ethereum jumped 8.1% to reach $3,601, extending its 7-day rally to over 21%. This sharp upward movement has prompted traders and institutions to rotate capital into high-beta altcoins with strong historical correlations to ETH.
Among the top gainers:
- XRP rallied 17.2% to cross $3.55
- Cardano (ADA) rose 14.6%, reclaiming key technical levels
- Dogecoin (DOGE) gained 12.5%, fueled by increased trading activity
These tokens often rally alongside Ethereum during strong risk-on sentiment, as capital flows into established Layer 1 networks and older large-cap altcoins seeking to catch up with ETH’s momentum.
GENIUS Act Passage Sparks Institutional Confidence
The recent market optimism follows the passage of the GENIUS Act, a legislative milestone that brings more clarity and structure to digital asset markets. The Act is widely viewed as a pro-innovation regulatory framework, which could pave the way for broader corporate and institutional participation in the crypto space.
Simultaneously, SharpLink Gaming, now the largest corporate holder of ETH, expanded its stock sale authorization to $6 billion to buy more ETH for its treasury—mirroring early Bitcoin strategies from firms like MicroStrategy. This move reinforces a broader trend of Ethereum being treated as a macro-level reserve asset.
Altcoin Season Expectations Build as ETH Dominance Grows
With Ethereum leading the charge, expectations for an “altcoin season” are rising. Traders have begun rotating into high-liquidity tokens like ADA, DOGE, and XRP, which historically lag behind ETH during early breakouts but tend to catch up quickly in bull market phases.
ETH’s dominance, previously overshadowed by Bitcoin’s macro narrative, is beginning to reassert itself. The ETH/BTC ratio is rebounding, and 24-hour ETH trading volume has exceeded $64 billion, signaling strong conviction behind the current rally.
Outlook: Market Positioned for Ethereum-Led Growth
With increasing flows into ETH-linked ETFs, corporate treasury adoption accelerating, and pro-crypto legislation clearing U.S. hurdles, the broader digital asset market appears poised for continued upside. As Ethereum continues to lead, altcoins like ADA, DOGE, and XRP may be set to outperform in the short to medium term.
If momentum holds and macro conditions remain favorable—especially with potential interest rate cuts—the market could be on the verge of a full-scale altcoin summer.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.