Altcoins Surge Globally as ETH Tests $4,000, XRP Leads Rally

Cryptocurrency markets are experiencing a significant rally led by altcoins, with Ethereum (ETH) testing the $4,000 threshold and potentially targeting $5,000, signaling a possible altcoin surge reminiscent of 2021. Institutional interest in ETH is growing, highlighted by a recent $5 billion purchase announcement from a Nasdaq-listed company, boosting institutional reserves substantially. XRP, Stellar (XLM), and Chainlink (LINK) saw double-digit gains following the conclusion of a lengthy legal battle between the SEC and Ripple Labs, which removed a major regulatory hurdle and positively impacted market sentiment. This rally is also supported by President Trump's executive order allowing crypto in 401(k) retirement plans and the SEC's clarification that certain liquid staking activities are not securities. Despite broad crypto market gains, Bitcoin (BTC) shows signs of cooling, trading within a narrow range and experiencing reduced ETF inflows and network activity, with increased hedging below $100,000 expected amid a typical summer lull. Overall, easing global trade tensions and positive regulatory developments are bolstering risk appetite across crypto and traditional markets.