Ethereum’s 51% Surge Sparks Altcoin Rally, Bitcoin Dominance Falls
In July, Ethereum surged 51%, igniting a broad altcoin rally as Bitcoin dominance slipped to 60.6%, its lowest since January. Capital rotated into ETH, XRP, DOGE and SUI, while spot ETH ETFs saw net inflows for 19 consecutive days. The GENIUS Act’s progress on stablecoin regulation further boosted trader confidence.
Corporate treasuries ramped up Ethereum holdings by 127% to 2.7 million ETH, with Bitmine and SharpLink surpassing the Ethereum Foundation’s reserves. Beyond ETH, XRP hit yearly highs, SUI climbed 34.6% after DeFi TVL topped $2.2 billion, and Dogecoin jumped 30% following disclosed treasury allocations. Tokenized stock market capitalization also soared 220% to $53.6 million.
This Ethereum rally underscores growing faith in staking yields, ETH’s deflationary design and clearer regulations, setting the stage for continued altcoin momentum.
Bullish
Ethereum’s sharp 51% rally, combined with sustained ETF inflows and significant corporate accumulation, signals robust demand and growing institutional adoption. The drop in Bitcoin dominance and capital rotation into ETH, XRP, DOGE and SUI highlights renewed risk appetite, while stablecoin regulation advances offer clearer compliance paths. In the short term, continued inflows and momentum trading are likely to drive further price gains. Over the longer term, improved staking yields, ETH’s deflationary model and regulatory clarity underpin a bullish outlook for Ethereum and the broader altcoin market.