Cardano, Dogecoin, XRP Lead Market Rebound as Crypto Bets Surge Post-GENIUS Act Clearing

Crypto markets rallied sharply in the past 24 hours with ether ETH$3,034.61 and major tokens surging on renewed risk appetite, growing ETH treasury demand, and macro tailwinds following the passage of the GENIUS Act.

ETH climbed 8.1% in the last 24 hours to $3,601, extending its 7-day gain to 21.3%, as traders priced in expectations of deeper institutional allocation.

The move was driven in part by news that SharpLink Gaming, now the largest corporate holder of ETH, expanded its stock sale to $6 billion to fund additional ETH accumulation, mirroring early bitcoin BTC$89,274.20 strategies from firms like MicroStrategy.

“The crypto market’s resilience reflects deepening institutional conviction,” said Eugene Cheung, chief commercial officer at OSL. “Companies are rapidly accumulating ETH as part of reserve strategies while BTC maintains steady dominance.”

Projects like SharpLink’s ETH bet underscore a structural shift toward crypto as a macro asset class.”

The risk-on mood follows the GENIUS Act’s passage, which is widely seen as a pro-crypto legislative catalyst. Bitcoin briefly touched new all-time highs and remains stable at $120,286, while ETH’s momentum helped pull broader altcoins higher.

Cardano's ADA ADA$0.4212 surged 14.6%, XRP$2.0724 gained 17.2%, and DOGE$0.1396 added 12.5%, all within the past 24 hours.

While buying pressure remained concentrated on ETH, traders rotated into large-cap altcoins viewed as laggards relative to ether’s breakout.

These assets tend to rally in tandem with ETH during periods of rising market confidence, especially when capital flows into Ethereum Layer 1s and older majors in search of beta.

With ETH pulling ahead, short-term positioning favored high-liquidity tokens that typically benefit from a “catch-up” trade as altseason expectations build.

“We had an incredible rally this past week,” said Jeff Mei, COO at BTSE. “ETH jumped by a whopping 20% to reach $3,600. We think it could revisit all-time highs as more companies adopt ETH treasury strategies.

“Altcoin summer looks likely, especially if the Fed cuts rates,” Mei added.

ETH dominance — long overshadowed by BTC’s macro narrative — is beginning to reassert itself as the ETH/BTC ratio rebounds. With $64 billion in 24-hour ETH trading volume and inflows into ETH-linked ETFs on the rise, traders are likely positioning for Ethereum-led upside into Q3.

Read more: Crypto Market Cap Crosses $4T After XRP, ETH Rally