Ethereum News Today: Altcoins Surge as Bitcoin Dominance Drops 6.3% Ethereum Gains 52% Cardano Jumps 60%

In recent weeks, the cryptocurrency market has witnessed a significant shift in momentum, with altcoins outperforming Bitcoin. Over the past week, Bitcoin's market dominance has decreased by more than 6.3%, indicating a growing interest in alternative cryptocurrencies. Ethereum, in particular, has led this surge, with a 52% monthly gain, while Cardano has jumped over 60% in just three weeks.

Ethereum's impressive rally began in July, starting at around $2,406 and reaching a high of $3,638.97, marking a 52% increase. Despite a slight 2.9% dip in the past 24 hours, Ethereum's bullish momentum remains strong. Analysts such as Thomas Lee from Fundstrat predict that ETH could reach $4,000 to $5,000 by the end of this month. Crypto commentator Alex Becker also agrees, suggesting that if Ethereum hits $5K, other altcoins, especially smaller-cap ones, could follow with explosive gains.

Cardano, another major altcoin, has been quietly building momentum. Starting the month at $0.5416, it recently crossed $0.8604, a gain of over 60% in just three weeks. Between July 2 and 21, ADA recorded at least 17 bullish candles, showing sustained buying pressure. In the last two weeks alone, ADA has climbed 50.4%, with only a small 1.8% dip in the past 24 hours, indicating a healthy consolidation. Alex Becker, who was once skeptical about Cardano, now predicts ADA could go as high as $5, especially if ETH crosses the $5K mark. This would be a massive 474% jump, reflecting growing confidence in Cardano’s technology and roadmap.

This shift in market dynamics is reflected in the drop in Bitcoin dominance, which typically signals that more money is flowing into altcoins. In past cycles, this has often marked the start of an altcoin season, and many traders believe that’s exactly where the market is now. Other major altcoins riding this wave include Solana, which jumped 22.9%, XRP, which rose 21%, and BNB, which gained 11.6%.

Investors are closely watching these developments, and confidence is building. While short-term corrections are always possible, the overall trend shows strength, especially in Ethereum and Cardano. If Ethereum crosses $4K or $5K, the broader market is expected to follow. The weakening Bitcoin dominance is a classic sign that altcoins are gaining strength, and if the momentum continues, an altcoin season could take off in full swing.