Cardano leads crypto gains as markets reopen, broad altcoin season still distant

Cryptocurrencies opened 2026 on firmer ground Friday in Asia, with Cardano’s ADA leading large-cap gains as traders returned from the holiday break and risk appetite picked up.

Bitcoin rose about 1% to trade near $88,700, while Ether added roughly 1%, hovering around $3,010, extending a gradual recovery from late-December lows. ADA surged 7%, outpacing the broader market, while Solana, XRP, and BNB also traded higher. Analysts note these moves reflect selective positioning rather than the start of a broad altcoin rally.

“Investors aren’t rotating wholesale out of Bitcoin and Ethereum into altcoins,” said crypto payments firm B2BINPAY. The Altseason Index near 16 underscores continued Bitcoin dominance, with inflows into select large-cap altcoins appearing targeted rather than market-wide.

The crypto rebound coincided with broader risk-on sentiment. Asian equities rose 0.8%, led by technology shares, while Nasdaq 100 futures climbed 0.6%, outpacing S&P 500 contracts as traders focused on AI and semiconductor names. Precious metals also advanced, with gold nearing $4,350 an ounce and silver up more than 1%, as markets priced in potential U.S. rate cuts and a weaker dollar.

Analysts caution near-term pressure may persist from portfolio rebalancing after 2025’s rally. Still, Bitcoin in the high-$80,000s and Ether above $3,000 suggest dip-buying is returning, even as broader conviction in altcoins remains limited