Cardano & ETC’s performances don’t scream ‘altcoin season’ yet
From April to May, the trend significantly shifted in terms of spot volume markets and exchanges for retail investors. A routine pattern of behavioral finance, ‘overconfident’ investors started to shift their attention from Bitcoin and the trend of trading volumes moved from fiat on-ramp exchanges to those organizations that facilitated the trade of riskier altcoins.
The chart highlights the various altcoins’ share of spot volumes in the beginning and the end of May, and it can be observed that while Bitcoin and Ethereum‘s spot volumes decreased, significant upticks can be noted with respect to the trading volumes of Ethereum Classic, Cardano, MATIC, THETA, and OKB tokens. Before we start putting our bets on another “Altcoins season,” let’s analyze the tokens that have surged over the month of May.
