• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Trends in the Crypto Sector – May 2024

user avatar

by Giorgi Kostiuk

a year ago


During May 2024, the crypto sector witnessed a surge in investments totaling 1 billion dollars, with Ethereum emerging as the dominant force in the market. A recent report by KuCoin Research indicated a 10.61% increase in investments compared to May 2023, despite a marginal decrease from the previous month. Institutional investors continued to show interest in Ethereum, EVM-compatible chains, and layer-2 networks known for their scalability in decentralized applications within the evolving blockchain ecosystem. Alongside Ethereum, non-EVM chains like Bitcoin, Solana, Fantom, and The Open Network (TON) also attracted significant investments amounting to 1.2 billion dollars in May, highlighting their growing popularity and unique offerings. Retail investors, concerned about market trends like low float and high fully diluted valuations, turned to memecoins and celebrity-associated tokens as accessible alternatives to high-value tokens with limited circulation. Notcoin (NOT) exemplified this trend, experiencing a surge in popularity during May due to its distinct launch strategy and impressive trading volumes, surpassing USD Coin (USDC) to become the fifth most traded cryptocurrency. Notcoin's price hit a record high of $0.02896 on June 2, driving its market cap over 2 billion dollars. Although there was a slight reduction in overall crypto investments compared to the previous month, the confidence in Ethereum and its technologies remained resilient in May. The future outlook for cryptocurrency investments remains uncertain but promising, reflecting the ever-evolving nature of the crypto market.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

K9 Finance Challenges Shiba Inu Team with Compensation Deadline

chest

K9 Finance has publicly challenged the Shiba Inu team to resolve compensation issues by January 6, 2026, following a significant hack in September 2025.

user avatarDiego Alvarez

Open Interest Shifts Indicate Cautious Reengagement in Ethereum Market

chest

Recent shifts in open interest for Ethereum suggest cautious reengagement from leveraged participants as the price pulls back toward the $3,200 zone.

user avatarKenji Takahashi

Marina Protocol Daily Quiz Introduces New Earning Features

chest

Marina Protocol introduces new earning features for its daily quiz, allowing users to earn cryptocurrency through various activities.

user avatarMaria Fernandez

Binance Coin's Ecosystem Utility Keeps It at the Forefront

chest

Binance Coin remains one of the strongest altcoins due to its integration across the BNB ecosystem.

user avatarMiguel Rodriguez

APEMARS: A Unique Narrative in the Altcoin Market

chest

APEMARS brings a science-fiction edge to the altcoin market by building its ecosystem around a multistage cosmic adventure.

user avatarGustavo Mendoza

Ethereum's Ongoing Innovation Keeps It at the Forefront

chest

Ethereum remains at the heart of decentralized innovation, attracting developers with its efficient scaling architectures and strong security incentives.

user avatarLuis Flores

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.