The crypto market is flashing clear signs of an altcoin season, as multiple tokens post impressive gains over the past week. Leading the charge is Ethereum (ETH), which has skyrocketed past the $2,500 level, fueling broader optimism across the altcoin space.
Ethereum Powers the Altcoin Momentum
Ethereum has been on a tear lately, climbing nearly 9% in the past 24 hours and marking an astonishing 40% surge over the week. ETH had recently plunged to as low as $1,400 in early April but has since staged a remarkable comeback, driven by macro tailwinds and renewed confidence following the upcoming Pectra upgrade.
Now trading well above $2,500, ETH has reclaimed a major psychological milestone, setting the tone for a weekend dominated by altcoin gains.
Altcoins Ride the Wave
With ETH breaking out, a wave of altcoins have followed suit. Dogecoin (DOGE) is among the top performers, up over 16%, now trading above $0.24. Other notable gainers include Cardano (ADA), Avalanche (AVAX), Chainlink (LINK), Shiba Inu (SHIB), Hedera (HBAR), Toncoin (TON), and PEPE, each showing double-digit percentage gains.
Bitcoin Holds Steady, But Dominance Drops
Meanwhile, Bitcoin (BTC) remains in positive territory, trading just above $104,000 after a slight daily increase of less than 1%. While BTC has also climbed nearly 9% over the week, its dominance has slipped below 60%—a clear signal that altcoins are outperforming.
Despite this, Bitcoin’s overall market cap continues to grow, helping push the total crypto market valuation to over $2.07 trillion, according to CoinGecko.
