Altcoin Season May Be on the Horizon, Says MEXC’s Tracy Jin
Tracy Jin, COO of MEXC, believes signs are pointing 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 towards altcoins. Jin notes that traders are showing less interest in stablecoins and more in altcoins. “The altcoin market cap has surged by $300 billion in just a few weeks,” Jin saeid. “This kind of change doesn’t happen without a reason.”
Other early signs include a decline in USDT dominance and improving price structures on altcoin charts. Monero, Sui, and bittensor are gaining attention.
Ethereum’s performance is another positive signal. On may 13, it jumped 9.99% and is up over 50% in a week, rising from $1,778 to $2,696. “Ethereum’s surge shows growing interest in altcoins,” Jin explained. “Traders are seeking higher returns, and many see bitcoin as overbought.”
While we’re still in “Bitcoin season,” Jin believes this could be the start of a reversal. Sectors like AI, privacy, and DeFi could see the biggest gains in the coming weeks.
