Crypto Boom : Ethereum Leads, Altcoins Ride The Wave

Ethereum surprised the market by surpassing 3,800 dollars, driven by massive liquidations of short positions. This sudden movement, supported by strong technical signals and increased demand, puts the asset back in the spotlight. While some altcoins follow the trend, this resurgence could mark a turning point for the crypto market.

Ethereum shakes the market : short position liquidation and the return of institutional players

While SharpLink deploys 6 billion to increase its influence in the Ethereum ecosystem , more than 100 million dollars of short positions were liquidated, according to Coinglass data , in the last 24 hours. This wave of liquidations was triggered as Ethereum crossed the symbolic 3,000 dollars threshold, reaching an annual high of 3,775 dollars on July 21.

The rise of ETH has also shifted the power balance with Bitcoin. The ETH/BTC ratio increased by 40 % over four weeks, reaching 0.03184, its highest this year.

The scale of the movement is surprising. Indeed, after months of stagnation, Ethereum now shows a 70 % increase over the past four weeks, a sharp reversal that reflects a strong reactivation of demand.

This bullish momentum is also supported by a series of clear fundamental signals, reinforcing the idea of a structural enthusiasm, well beyond a simple technical rebound :

• Whale activity : this Sunday, a large investor acquired 13,500 ETH for 50 million USDT, a transaction detected on-chain ;

• Growing institutionalization : the listed company SharpLink became the largest corporate holder of ETH after purchasing 280,706 cryptos, valued at 1.06 billion dollars ;

• Technical prospects : Ethereum faces a key resistance at 4,100 $. If broken, an acceleration towards 5,000 $ could occur in the short term ;

• Record adoption : Ethereum now has 152.03 million active wallets, a record across all blockchains, according to Santiment.

These on-chain data confirm that Ethereum’s resurgence is not isolated, but integrated into a context of overall recovery, supported by both institutional and strategic actors.

Altcoins in orbit : projects benefiting from the Ethereum effect

While Ethereum’s rise has drawn attention, several altcoins in development or consolidation phases have taken advantage to capture investor interest. Among them, Snorter Token ($SNORT) , a project focused on a Telegram trading bot, seems to be standing out.

The product is distinguished by its approach aimed at retail investors. It enables any user to place orders directly from Telegram, with advanced security features.

Another project riding the Ethereum wave is Bitcoin Hyper ($HYPER) . It offers a Layer 2 solution dedicated to Bitcoin, using the Solana Virtual Machine to facilitate interoperability with Web3 applications.

This L2 allows converting BTC into wrapped BTC via a canonical bridge, to be used in DeFi, gaming or NFTs. The project has already raised 3.9 million dollars, and the $HYPER token currently trades at $0.01235, with a target of $0.08625 by 2026.

Meanwhile, FLOKI, an OG from the meme universe, is seeing renewed interest driven by Valhalla, its NFT-based gaming ecosystem. Since the platform launch on July 1st, over one million transactions have been recorded, and 125,000 NFTs have been mined. The token has jumped 92 % in the past four weeks, with analysts forecasting an additional 50 to 80 % potential gain.

These altcoin dynamics show that Ethereum’s rise acts as a sector catalyst. If technical resistances such as the 4,100 dollars level were to be broken, this could accelerate a broader market uptrend, notably for projects in launch or adoption phases.