Crypto Markets Bounce Back, Led by DOGE, ADA, and XRP After GENIUS Act Clears Regulatory Path

ETH Rally Sparks Broad Crypto Surge as GENIUS Act and Treasury Demand Ignite Altcoin Season

Ethereum’s explosive 8.1% gain to $3,601 over the past 24 hours helped lift the broader crypto market, as institutional interest and pro-crypto legislation breathed new life into digital assets. ETH’s weekly gain now stands at 21.3%, with momentum spilling into large-cap altcoins.

Fueling the rally is a growing narrative around ETH as a corporate treasury asset. SharpLink Gaming—the largest institutional holder of ether—revealed plans to raise up to $6 billion through an expanded stock sale to deepen its ETH reserves. The strategy echoes early Bitcoin corporate adoption, but with Ethereum now at the center.

“ETH accumulation by corporates marks a turning point,” said Eugene Cheung, Chief Commercial Officer at OSL. “The market is clearly shifting from speculative bursts to long-term positioning.”

That shift is being amplified by the GENIUS Act’s recent passage—legislation seen as a watershed moment for U.S. crypto policy. The news sparked renewed risk appetite, with Bitcoin (BTC) touching a fresh high of $120,286 before pulling back slightly.

Meanwhile, traders rotated into altcoins that often lag ETH during breakouts. Cardano (ADA) jumped 14.6%, XRP gained 17.2%, and Dogecoin (DOGE) added 12.5%, riding the wave of capital rotation and rising beta exposure.

“Capital is chasing catch-up plays,” said BTSE COO Jeff Mei. “ETH’s surge has set the tone, but now majors like ADA and XRP are getting pulled into the rally.”

Ethereum’s resurgence is also reviving talk of a new “altcoin summer.” With ETH trading volumes exceeding $64 billion in 24 hours and inflows rising across ETH-linked ETFs, market participants are positioning for further upside.

ETH/BTC is rebounding, signaling a shift in dominance dynamics that could favor Ethereum into Q3—especially as Fed rate cuts remain on the table and institutions continue to expand exposure beyond Bitcoin.

“The next leg higher might be ETH-led,” Mei added. “The ecosystem is maturing, and the capital inflows are proving it.”