Ethereum breaks resistance and drags altcoins down: Solana, LINK, and ETC accelerate their rise

Ethereum has reignited the crypto market, dragging key altcoins like Solana, Chainlink, and Ethereum Classic into a significant rally.

In recent weeks, the price of Ethereum (ETH) has strongly surpassed the psychological barrier of $4.000, even reaching a new high. all-time high (ATH) of $4.938, on August 24. This rally has not only reignited investor enthusiasm for ETH, but has also begun to radiate to other cryptocurrencies, marking the start of a potential new bull cycle for altcoins. 

As reported by this outlet, Ethereum's surge is due to several key factors, such as a significant reduction in the amount of ETH available on exchanges, growing institutional interest, and a capital rotation away from Bitcoin. The market is even waiting for the SEC to approve new altcoin-related ETFs, which has created a very favorable dynamic that places Ethereum as a protagonist in a broader narrative, known as the altseason o altcoin season.

As the second-largest cryptocurrency on the market gains traction, investors' attention has shifted to altcoins. Solana, Chainlink, and Ethereum Classic are some that have begun to show clear signs of acceleration, with returns outperforming even Bitcoin itself in the last quarter. Capital is rotating, and investors are looking for opportunities beyond traditional cryptocurrencies.

Ethereum leads the cycle and paves the way for altcoins

Ethereum has once again proven to be the key barometer for altcoins in the crypto world. When its price rises sharply, it not only boosts its own value but also pulls a host of alternative coins along with it, transforming the investment landscape. This cycle is no exception, as, after reaching a new all-time high and holding firmly above $4.000, Ethereum reaffirms its role as the undisputed leader within the ecosystem.

Additionally, ETH's leadership is reinforced by the current regulatory environment. The approval of Ethereum-based spot ETFs in 2024 marked a turning point, consolidating its presence in the institutional market. Now, attention has shifted to other altcoins, as the SEC shows an increasingly open and favorable stance toward approving financial products related to them, opening the door to a new wave of institutional investment that could inject billions into this segment.

Meanwhile, Bitcoin's market dominance is beginning to decline. With a market dominance currently hovering around 57%, investors are clearly moving toward diversification. Ethereum, with its robust ecosystem of smart contracts, DeFi, NFTs, and tokenization, is consolidating as the ideal bridge for those looking to tap into the growth potential of the crypto world beyond Bitcoin.

Solana, Chainlink, and Ethereum Classic on investors' radar

In this new scenario, three altcoins have captured the market's attention: Solana (SOL), Chainlink (LINK), and Ethereum Classic (ETC). Each represents a different narrative, but they all share one thing in common: they are accelerating their rise in response to Ethereum's momentum.

Solana has been one of the most consistent protagonists of the last year. His architecture of high speed and low cost making it an attractive option for decentralized application developers, especially in the field of NFTs and DeFi. In recent weeks, SOL has surpassed $ 206 dollars, with growing volume and clear signs of institutional accumulation. Its ecosystem continues to expand, and many analysts consider it a leading contender to lead the next generation of blockchains.

Chainlink, for its part, has surprised with a rally of up to 51% in recent weeks, trading at around $ 22 dollars, currently. This growth is no coincidence, as it operates as an oracle network that enables smart contracts. access real-world datal, a critical function for the development of decentralized financial applications. With the expansion of DeFi protocols and the integration of real-time external data, Chainlink has become a key cog in the crypto machine. Its recent rally reflects not only speculative interest but also recognition of its structural utility.

Ethereum Classic, although less media-friendly, has maintained a steady upward trend. Trading above $ 20 dollars, ETC represents the original version of Ethereum, with a more conservative approach in terms of governance and securityIts narrative is based on pure decentralization and resistance to arbitrary protocol changes. In times of high volatility, some investors see ETC as a more stable alternative within the Ethereum universe.

This renewed interest in altcoins comes amid growing optimism. The potential approval of asset-specific ETFs like Solana or Chainlink is on the table, and while there's no official confirmation yet, rumors have begun to move the market. If the SEC gives the green light, we could be looking at a significant expansion of institutional access to these cryptocurrencies.

A market in transition: altseason on the horizon?

The combination of technical, narrative and regulatory factors has created an enabling environment for a nueva altseason This phenomenon, characterized by the outperformance of altcoins compared to Bitcoin, is already showing its first signs. In the last quarter, several cryptocurrencies have outperformed BTC, and capital is flowing into projects with more specific and differentiated offerings.

Ethereum was the trigger, but the movement has already spread. Solana, Chainlink, and Ethereum Classic are not only rising in price, but also in relevance. Investors are reevaluating their portfolios, incorporating assets that were previously considered secondary. This capital rotation suggests that the market is entering a more mature phase, where the narrative is not limited to Bitcoin as a store of value, but is expanding toward concrete technological solutions.

If the SEC approves the pending ETFs and BTC dominance continues to decline, we could be on the verge of a historic altseason. Therefore, the crypto market, far from being a zero-sum game, is becoming more diversified and sophisticated. Ethereum has already opened the door, and altcoins are ready to cross it.

In this new cycle, the key will be to identify emerging narratives, understand each project's value propositions, and anticipate regulatory moves. Ethereum's rally is just the beginning. What's coming could completely redefine the crypto landscape, according to experts.