Critical Developments in Altcoins in May

After an April with high volatility, altcoin followers will follow these developments closely in May.

  • PEPE is said to be listed on major exchanges as it surpasses DOGE and SHIBA, the largest memecoins by daily trading volume, which may be attractive to exchanges. Futures are also expected to be launched, as will be first presented by BitMEX on May 3.
  • BTC Ordinals Inscriptions have increased recently, surpassing 3 million in five months. With a market cap of $120 million, the industry could grow significantly if CEXs support the BRC-20, as has been said for Huobi and Binance.
  • BTC Ordinals Inscriptions are a way to create digital artifacts on the Bitcoin blockchain by adding metadata to individual satoshis (Bitcoin’s smallest unit). Metadata includes text, images, audio, video, etc. It can be any data type under 4mb such as
  • The launch of Blur’s Blend could trigger the NTFI season by leveraging the NFT market and increase volatility in the industry. Notable projects include BLUR, X2Y2, BEND and JPEG
  • SUI Mainnet will be operational on May 3. SUI will initially be traded with a low circulating supply of 5.28%, most of which comes from Binance Launchpool and users’ whitelist distributions.
  • Lido V2 will allow stETH withdrawals in early May. As LDO is the largest staking depositor with 6 million Ethereum, this could be the last wave before net flows turn positive as deposits outpace withdrawals.
  • The crvUSD stablecoin is set to be launched soon. It was recently made available on the Sepolia Testnet and the contract distributor was funded with 30 ETH, which indicates it will be launched in the near future.
  • Arbitrum incentives will start out mostly in the form of liquidity mining or trading incentives after the $149 million airdrop to DAOs. Projects with the highest appropriation value ratio by market value include VSTA, XCAL, Y2K, PLS and JONES
  • Yearn’s two products, which are expected to launch in May, are known as yETH, a basket of yielding LSDs, and veFYI, which will enable revenue sharing with stakers.
  • Exceeding the initial management recommendation, the OP Bedrock update will significantly reduce transaction fees and enable the use of zero-knowledge proof.
  • Spark Protocol, MKR’s new lending product built on Aave V3, is expected to be launched soon.
  • The SUSHI V3 voting goes live at the end of May to offer higher capital efficiency and improved tokenomics.
  • VELA Exchange officially launches in May.
  • The PLS v2 tokenomics upgrade goes live in May and offers bPLS with claims for greater token usage, reward distribution, and significantly reduced inflation.
  • The GALA v2 tokenomics update goes live on May 15, with new tokens airdropped 1:1 to existing token holders. The update will also include a burning mechanism and security improvements.
  • The largest AVAX conference, the Avax Summit, will take place May 3-5.
  • Aave V3 is expected to launch at METIS after the management bid expires on May 4.
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