According to recent data from the renowned cryptocurrency analysis platform CoinGecko and compiled by CryptoDep, investors are currently showing significant interest in various altcoin projects. Some of the most sought-after altcoins include Notcoin (NOT), Solana (SOL), LayerZero (ZRO), ether.fi (ETHFI), Ondo (ONDO), ZkSync (ZK), Arbitrum (ARB), Toncoin (TON), Jupiter (JUP), and Kaspa (KAS).

Investors' Interest in Prominent Altcoins

Among these altcoin projects, Solana leads in market value with $61.2 billion and tops the trading volume charts with $2.64 billion. On the other hand, ether.fi experienced a notable decrease of 39.8% in weekly price changes, while LayerZero recorded the highest increase at 8.64%.

CoinGecko's data also reveals the current market prices for these altcoin projects. SOL is trading at $132, NOT at $0.015, ZRO at $3.78, ETHFI at $1.88, ONDO at $0.915, ZK at $0.148, ARB at $0.632, TON at $7.13, JUP at $0.689, and KAS at $0.159. Among the various cryptocurrency exchanges, Binance is prominent in trading these altcoin projects.

The data indicates that investors are actively searching for potential investment opportunities in the cryptocurrency market amidst heightened volatility.

Analysts Warn about Summer Market Conditions

Analysts caution that the cryptocurrency market is experiencing selling pressure, primarily due to reduced institutional investor activity during the summer season. The absence of institutional purchases, combined with profit-taking by long-term investors, has impacted the altcoin market, especially Bitcoin (BTC).

The decline in institutional involvement and the increase in profit-taking actions have led to decreased market liquidity and escalated selling pressure. Analysts anticipate that if miners opt to hold onto their BTC holdings instead of selling, the selling pressure could potentially diminish.