The cryptocurrency market has been volatile in May, when some altcoin projects outperformed others. Here are five altcoins that investors and traders should consider in May 2023, according to analysts.
The first altcoin to watch out for: PEPE
Pepe (PEPE) is a new sensation in the crypto space, as we have also reported as Kriptokoin.com. It outpaced Floki (FLOKI) and Baby Doge Coin (BABYDOGE) with a 120 percent increase on May 1. Thus, it achieved tremendous success, becoming the third largest meme coin in the world. The recent listing of PEPE on OKX has also had a significant impact on prices. The listing resulted in a massive 329.18 percent price increase for PEPE last week. It also led to an impressive 1,503.11 percent increase in a single month. But a 19.97 percent loss somewhat offset these gains.
What’s next for RNDR listed on Coinbase?
The Render Token (RNDR) has experienced an impressive price increase after being listed on Coinbase earlier this year. Thus, it caught the attention of the cryptocurrency community. The listing resulted in a 285 percent increase in just a few months. Currently, RNDR is up 2.76 percent on the day and 6.33 percent in the previous seven days. In addition, RNDR with an increase of 68.08 percent in the past month; It is trading at $2.15.
MultiversX becomes the third altcoin on the list
MultiversX (EGLD), formerly known as Elrond, has recently gained attention after being listed on Binance.US. Also, EGLD experienced a significant price increase after being listed on Upbit, similar to Floki (FLOKI). It decreased by 0.65 percent compared to the previous day and by 2.14 percent in the last month. But despite this, MultiversX has gained 3.40 percent in the last seven days.
VeChain is on the agenda with its new update
Despite its not-so-bright performance in recent weeks, VeChain’s (VET) price stands out. VeChain is launching a VechainThor mobile crypto wallet upgrade on May 4, as the ecosystem announced. According to analysts, VET has a chance to take advantage of this and end the downtrend in May and rise. However, VeChain is currently trading at $0.02 and is bearish on all its charts. However, it has increased by 28 percent on an annual basis.
Latest coin on the list: STX
Finally, Stacks (STX) has been seeing gains since Binance announced its support for the upcoming Layer 2 upgrade for the Bitcoin network. 787,651 of the L2 update that Binance will support for the BTC network. block is expected. Currently, STX is trading at $0.81, up 17.27 percent in the last 24 hours and 8.75 percent over the week. Michaël van de Poppe, a crypto trading expert, predicts altcoins will continue to rise, especially if Bitcoin rises above $30,000 and the rest of the market follows suit.
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