As Bitcoin's dominance sharply declines, funds are accelerating towards altcoins, which may signal the long-awaited 'altcoin season' is about to begin. Bitcoin's market share has dropped significantly from over 65% to 63.89%, indicating a shift of funds to other projects. Meanwhile, Ethereum (ETH) has surged nearly 13%, with altcoins like SOL, DOGE, and ADA also exceeding a 6% increase. More importantly, the ETH/BTC ratio has rebounded to its lowest point since 2020, indicating a potential structural shift in investor sentiment.
This change has sparked market interest in altcoins, particularly those with strong ecological support and real applications. Here are the top altcoins worth focusing on in May:
1. Ethereum (ETH)
Ethereum has become a popular choice among institutional investors, and as its Layer 2 ecosystem continues to expand, the value storage and application scenarios of ETH are rapidly growing. Recently, Coinbase added 21,000 ETH, bringing its holdings to over 140,000, while platforms like Kraken, OKX, and Uniswap are strengthening their Layer 2 solution layouts. As one of the safest and most promising investment targets, ETH still has significant upward potential.
2. Ondo Finance (ONDO)
Supported by global asset management giant BlackRock, ONDO focuses on providing tokenization services for real-world assets (RWA) to institutions. As the regulatory environment in the U.S. becomes clearer, ONDO is expected to achieve significant breakthroughs in the institutional-grade on-chain finance sector, becoming an important player in this field.
3. Ripple (XRP)
XRP is gradually moving towards mainstream financial applications as U.S. regulations become clearer. Recently, XRP was used by a pharmaceutical company in Florida for a $50 million payment scenario, demonstrating its broad applicability in corporate payments and financial markets.
4. Cardano (ADA)
Cardano remains committed to an efficient and environmentally friendly consensus mechanism, and is expanding its Bitcoin bridge to support World Mobile Token (WMT). This initiative places Cardano in a significant competitive position within the blockchain ecosystem.
5. World Mobile Token (WMT)
As an important part of the Cardano ecosystem, WMT is collaborating with platforms like Ethereum and Cosmos to promote global decentralized connectivity and is expected to become a core partner chain of Cardano in the future.
6. Borg Token (BORG)
BORG is the core token within the Swissborg ecosystem, supporting comprehensive development from CeFi to DeFi. One-third of the BORG supply has already been staked, and its collaboration with Hyperliquid has further accelerated its development momentum.
7. COTI (COTI)
COTI, originally developed on Cardano, has now become an Ethereum Layer-2 platform dedicated to compliant privacy and risk-weighted (RWA). Its market presence in Africa and the Middle East, along with initiatives to empower the digital euro, showcases its enormous market potential.
8. Foxy (FOXY)
FOXY is not just a meme coin; it is also the mascot of the rising Ethereum Layer 2 ecosystem - Linea. With the growth of Linea, FOXY is expected to gain rare infrastructure-level support among meme coins and is worth close attention.
9. Solana (SOL)
As one of the cores of Layer 1, Solana has gained widespread attention for its outstanding speed and scalability. Despite facing numerous challenges, analysts remain optimistic about Solana, believing it may become the 'next Ethereum.'
10. Sui (SUI)
Sui has gained attention for its high-performance architecture and is being regarded as the 'next Solana.' Analysts believe it will compete fiercely with Solana and occupy an important position in the L1 space.
11. Supra (SUPRA)
As a 'next-generation blockchain,' Supra has strong advantages in speed and interoperability, making it part of the rising L1 narrative. Its cross-chain capabilities and efficiency position it as a potential player in future competition.
12. Injective (INJ)
Injective, designed specifically for decentralized finance (DeFi), supports tokenized stocks and risk-weighted assets (RWA). Analysts believe Injective is paving the way for a decentralized 'Wall Street,' with enormous potential for the future.
13. Paid Network (PAID)
PAID is a crypto project dedicated to providing legal and crowdfunding tools for startups, currently in its third cycle and regarded as a robust 'small-cap survivor.'
14. Research Coin (RSC)
RSC is committed to promoting the DeSci (decentralized science) movement, rewarding researchers who publish open data. It is expected to become a leading token in the decentralized scientific discovery field and bring new commercialization opportunities to academic research.
Conclusion:
As Bitcoin's dominance gradually declines, opportunities in the altcoin market are emerging. The strong rise of platforms like Ethereum and Solana, along with the continuous expansion of real-world use cases, positions these altcoins as potential targets for the next cryptocurrency bull market. While focusing on these projects, investors should closely monitor market sentiment and regulatory dynamics to prepare for the next wave of trends.