The cryptocurrency market is experiencing a rebound after recent volatility, driven by significant gains in Ethereum and XRP alongside a surge in the Ethena protocol. Ethereum rose 2.7% while XRP climbed 4.5% in daily trading, leading recovery efforts among top-10 cryptocurrencies by market capitalization.
Market turbulence erupted following new trade war tariff announcements, prompting short-term sell-offs in major assets like Bitcoin and Ethereum. Despite this, Ethena—an Ethereum-based DeFi stablecoin protocol—soared 10.8% within 24 hours, catalyzing renewed momentum across altcoin markets.
Several altcoins posted notable gains despite weekly losses, including Stellar, Injective, and Solana-based token BONK. Market sentiment has shifted toward cautious optimism, with analysts noting a 54.4% probability of Ethereum reaching a new all-time high within the year as institutional and retail interest gradually returns.