Bitcoin, Ether, Cardano, XRP Surge After Steep Decline On New Year's Day

After a lackluster start to 2026, cryptocurrency prices have found their stride in a strong showing on January 4. Bitcoin (BTC), Ethereum (ETH), Cardano (ADA), and XRP are in the green again, while smaller-cap cryptocurrencies are also posting impressive numbers.

BTC, ETH, ADA, XRP Lead Broader Crypto Rally

Traders are rubbing their hands in glee over impressive returns raked in by leading cryptocurrencies over the last day. According to CoinMarketCap data, the global cryptocurrency market capitalization surpassed $3 trillion for the first time in 2026, representing a near 3% surge in 24 hours.

BTC, the largest cryptocurrency, set the pace with an intra-day high of $89,824, with bulls watching the $90K psychological mark with optimism. At the end of 2025, Bitcoin price received a heavy pummelling before long-term holders hit the brakes on selling their coins, sparking optimism for a short-term rally.

On the other hand, Ethereum broke through the $3,000 mark, surging by nearly 3% over the last day. Meanwhile, daily transaction volume for the largest altcoin sits at an impressive $14.84 billion on the heels of a record network activity.

ADA shook off its bearish sentiment from the New Year to pull in gains of over 7% to allay fears of a slump below the $1 mark. Among the top 10 cryptocurrencies by market capitalization, DOGE scored the biggest daily gain, surging by 9.03% to trade at $0.1314.

BNB and XRP posted respectable gains in the same time frame, rallying after a bleak start to the New Year. Furthermore, LINK soared by 6.37% in under 24 hours while SOL pulled in a 2% upswing to settle at $128. HBAR and PEPE scored double-digit gains with the memecoin surging by a staggering 37%, according to CoinMarketCap data.

Despite the market’s general uptick, the HYPE price fell by almost 5% over 24 hours. After a terrific run, ZEC also experienced a steep 6.89% drawdown, going against prevailing market sentiment.

Why Are Prices Up?

Several reasons can account for the surge in cryptocurrency prices. Right off the bat, Bitcoin’s price resilience to come within touching distance of the $90K mark signaled the start of the rally. Furthermore, long-term holders have reversed their selling spree, with spot Bitcoin ETFs notching $355 million in net inflows, breaking a seven-day losing streak.

For altcoins, Ethereum’s impressive network metrics, including its daily transaction volume, added steam to its price. Rising RWA value on Solana and Franklin Templeton’s endorsement of XRPL contributed to the altcoin buzz on January 2.