In the first quarter of 2025, Bitcoin went through a genuine consolidation phase. However, the stablecoin started a massive turnaround as soon as April landed.
Key Takeaways:
- Bitcoin has gone up to almost its all-time high now.
- Easy tariffs and low transaction rates favored the growth.
- However, altcoins are also growing fast, threatening to end Bitcoin’s market domination.
- Other coins like HYPE, PENDLE, and AAVE are also emerging
- Layer 1 blockchains like AVAX and SUI are surging FARTCOIN’s importance as a memecoin
May has been a phenomenal month for Bitcoin. The stablecoin started with a staggering $1,03,000. The gain since last month has been over 14%. At one point, the coin surged to $1,05,000; however, it stabilized at $1,03,469.10 at press time.
BTC is not the only coin joining the price rally. ETH is also among the biggest gainers. Last week’s gain was a staggering 40%. Most importantly, ETH’s growth is complementing the development of the whole altcoin market.
Barring the top 10 cryptos, the other altcoins have increased to $290 billion. The growth in the last 7 days is a phenomenal $70 billion. However, it is still 50% lower than its January high!
Technical Analysis
Bitcoin’s technical analysis shows that the coin’s dominance has grown 65.5% in the last seven days. In the same line, the extended devaluation of the altcoin market is also nearing an end. Therefore, it can be deduced that if Bitcoin trades around $700, the lost value of the altcoins would be quickly revived.
Among other coins, HYPECOIN shows exceptional growth. The coin is now operating at its layer one blockchain. The specialized consensus algorithm called HyperBFT has the potential to perform spectacularly across the DeFi apps. Hence, HTPE’s enviable growth!
The coin’s current trade volume is $1.2 trillion. Simultaneously, it has gained traction from around 400,000 users.
Another coin, AAVE, is also growing. The token has a market reserve of $26 billion. Its growth suggests bolstering fundamentals, with ten times growth potential since last year!
Memecoin of the Month
January witnessed the growth trend of memecoins again. TRUMP and MELANIA coins are growing again. However, the coin that stands out is FARTCOIN. The token has seen a 3x growth since April.
Disclaimer: Bitcoin Mag doesn’t represent the views expressed here. The liability of the opinions and research is the author’s.
