It truly looks like we are in altcoin season! Ethereum is now trading at $3,500 which is way above its previous all-time high that it smashed a week ago. But it’s not just Ethereum that can boast such all-time highs. There have been a whole host of altcoins that have been consolidating in price the past few months and were seemingly just waiting for the right market conditions to explode.
Cardano today sailed past its all-time high of $1.53 and is now currently trading just above $1.60 after months of price consolidation. Chainlink is another coin that spent a lot of the time sitting on the sidelines watching the other coins have fun but this week has seen the price go all the way past its previous all-time high also. Litecoin is also on the brink of a new all-time high.
The entire market cap for the crypto industry is now sitting at $2.41 trillion while it declined all the way back to $1.76 trillion only two weeks ago. This means that an incredible $650 billion dollars have been pumped back into the crypto markets in the last two weeks. It’s always possible we might see a significant dip due to the high volume of positive transactions taking place but the majority of technical analysis experts believe that we still have quite some time to go and that we won’t see any real halt to this momentum for the entirety of May.
