Ethereum, Dogecoin, Cardano and XRP Lead Altcoin Recovery After Historic Market Liquidation
After the worst liquidation events in crypto history, the altcoin market is showing its first signs of a strong rebound. Data from CoinMarketCap reveals that major assets, including ETH, DOGE, ADA, and XRP,...
After the worst liquidation events in crypto history, the altcoin market is showing its first signs of a strong rebound. Data from CoinMarketCap reveals that major assets, including ETH, DOGE, ADA, and XRP, are leading the recovery with solid gains, as traders and institutions regain optimism.
Ethereum surged 2.29% in the past day to $3,889, with trading volumes exceeding $31 billion. The rise comes after a turbulent week that saw ETH decline nearly 15% due to heavy liquidations.
Moreover, ETH remains up 60.8% year-on-year, supported by anticipation surrounding the Fusaka upgrade and growing institutional interest in potential staking-enabled ETH ETFs. However, analysts caution that the ongoing debate over Ethereum’s issuance schedule and decentralization could influence its medium-term stability.
Major altcoins rebound as sentiment stabilizes
Dogecoin followed closely, with an 11.25% surge in 24 hours to $0.2105, fueled by renewed retail enthusiasm and excitement around the Dogecoin ETF.
The proposed block reward reduction from 10,000 to 1,000 DOGE has also sparked debate within the community, with investors weighing potential long-term deflationary benefits against risks to miner participation.
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Meanwhile, whale accumulation and increasing trading activity suggest that institutional players may be eyeing the meme coin’s renewed momentum.
Cardano (ADA) also made a notable recovery, gaining 3.08% in 24 hours to trade at $0.63. The rebound follows the community’s approval of a $71 million treasury fund aimed at accelerating upgrades like Ouroboros Leios, Hydra, and the Midnight sidechain, developments that could significantly expand Cardano’s scalability and ecosystem utility.
XRP, on the other hand, posted a 4.82% rise to $2.36, extending its yearly gains to nearly 350%. The rally comes amid optimism surrounding potential XRP ETF filings and market confidence following Ripple’s settlement with the SEC earlier this year.
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