Altcoin Season might potentially be on the Horizon,Says MEXC’s Tracy Jin
Tracy Jin,COO of MEXC,believes signs point to an upcoming altcoin season. One key indicator is the decline in Bitcoin’s dominance. As of May 13, Bitcoin’s share of the total crypto market cap dropped to 61.3%, down from nearly 65% last week.
This shift suggests a possible move away from Bitcoin and toward altcoins. jin notes that traders are moving out of stablecoins and showing more interest in altcoins. “The altcoin market cap has surged by $300 billion in weeks,” Jin said. “This is not a coincidence. We’re seeing declining USDT dominance and improving altcoin price structures.”
Ethereum’s performance is another positive sign. On May 13, ETH jumped 9.99%, bringing its weekly gain to over 50%. Jin believes this surge in risk appetite could signal the start of an altcoin season.
While we’re still in “Bitcoin season,” Jin thinks this could be the beginning of a reversal. Traders are seeking higher returns, and many see Bitcoin as overbought. Jin predicts sectors like AI, privacy, and DeFi could see the biggest gains in the coming weeks.
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