Bitcoin price volatility continues, and if the $27,200 mark holds, we might wake up to a greener market tomorrow. But which altcoins attracted the most attention in the last week? CoinGecko provides the answer. It has shared the altcoins trending between May 27 and June 2, and we could see some of these skyrocketing in the coming days.
Most Popular Cryptocurrencies
At the top of the list is PEPE Coin. The altcoin experienced a surge of interest in the first week of May, leading to such significant demand that Binance decided to list it. Despite a slight decrease, the latest report indicates continued interest. SUI comes next, worth watching as a new competitor to Solana, owing to its low fees and speed – factors that increased Solana’s popularity in 2021. Moreover, SUI also boasts similar corporate backing as Solana. Even though Solana might not be currently drawing significant institutional interest, SUI Coin remains strong in this aspect.
List Can Be Misleading
Some altcoins may have made it to the trend list but do not inspire confidence in investors. In fact, some are known to be highly risky assets. A case in point is the contentious BEN Token. We have previously shared numerous allegations concerning this altcoin, backed by Armstrong.
Investors need to be cautious with such altcoins, despite their frequent mention on social media and trend lists.
30 Cryptocurrencies Made the List
As always, Ethereum and BTC hold their spots in the top five. Aside from these, RNDR is another altcoin on the list that attracts attention. Its strides made at the beginning of 2023 had a significant impact. The project rents out GPU resources and is linked to the recent excitement around artificial intelligence. These systems consume vast resources, and the potential of some blockchain-based AI solutions to collaborate with RNDR appeals to investors. As the Render (RNDR) team has openly expressed, the higher the fees it earns, the higher the token price climbs.
The complete list can be seen above. As a small detail for Conflux, this altcoin, being China-based, could experience a resurgence of interest due to the Hong Kong move. Its presence on the trend list could be attributed to the June 1 Hong Kong cryptocurrency regulations. However, these won’t result in drastic changes overnight – we will see their effects over the next 6-12 months.
