ETH-Led Surge Drives Crypto Rally as Treasury Demand and GENIUS Act Fuel Market Optimism

Crypto markets saw strong upward momentum over the past 24 hours, with Ethereum (ETH) leading gains on renewed institutional interest, favorable macro conditions, and a broader resurgence in market confidence following the approval of the GENIUS Act.

ETH surged 8.1% to $3,601, bringing its 7-day rally to 21.3% as investors increasingly priced in higher allocations from corporate treasuries and funds.

Fueling the move was news that SharpLink Gaming—now the largest corporate holder of ETH—expanded its equity sale program to $6 billion to support further ETH accumulation. The strategy mirrors early corporate Bitcoin treasury plays by firms like MicroStrategy and highlights growing institutional conviction.

“The market’s strength is underpinned by a shift in how institutions view crypto,” said Eugene Cheung, Chief Commercial Officer at OSL. “Ethereum is now being embraced not just as a tech platform but as a reserve asset.”

The passage of the GENIUS Act—widely regarded as a pivotal pro-crypto policy win—also supported sentiment, with Bitcoin (BTC) briefly touching new all-time highs before settling at $120,286.

Altcoins followed ETH’s lead. Cardano (ADA) jumped 14.6%, XRP rallied 17.2%, and Dogecoin (DOGE) gained 12.5% as traders rotated into high-liquidity majors seen as lagging ETH’s breakout.

These assets typically climb alongside Ethereum during bullish cycles, especially when capital flows shift toward Layer 1 ecosystems and legacy altcoins in search of higher beta exposure.

“The catch-up trade is in full swing,” said Jeff Mei, COO at BTSE. “ETH’s breakout has pulled the broader market higher, and if institutional ETH adoption continues, we could revisit all-time highs.”

Mei also noted that expectations of rate cuts from the Federal Reserve could extend the rally and accelerate altseason momentum.

With ETH dominance beginning to reassert itself, and the ETH/BTC ratio showing signs of recovery, the focus may continue shifting toward Ethereum-driven upside. ETH trading volume topped $64 billion in the past 24 hours, and inflows into ETH-based ETFs suggest that investor appetite is only growing as Q3 unfolds.