October was equally challenging for altcoins, with ether ($ETH), the second-largest cryptocurrency by market capitalization, suffering even steeper losses. Like bitcoin, $ETH rallied during the first week of October as the broader cryptocurrency market appeared to sustain September’s momentum. However, after briefly surpassing $2,700, $ETH began a steady decline, falling to $2,300 by Oct. 29.

The sell-off following the Binance hack pushed $ETH below $2,190 before a relief rally lifted it back above $2,200. Consequently, $ETH ended the week down nearly 4%, extending its 30-day losses to more than 15%.

Other major altcoins, including solana (SOL) and cardano (ADA), suffered even steeper weekly declines, falling 7% and 6.6%,…