Which Altcoins Are More Likely To Catch The Bounce?

Altcoins Ethereum ETH ETHUSD

After one of its most brutal weekends, Bitcoin and most altcoins show signs of recovery in lower time frames. While most are still down by 30% and 40% in the 7-day and 30-day chart, the general sentiment in the market appears to be more bullish as investors see their charts flip from red to green.
Ethereum was probably one of the fastest altcoins to return from under a critical support zone at $1,700. The second cryptocurrency by market cap trades at $2,541 with a 2.6% profit in the daily chart and a 35.6% profit in the monthly chart.
ETH with bullish momentum in the daily chart. Source: ETHUSD Tradingview
Ethereum will undergo an update to its fee model with hard fork “London”. EIP-1559 will be implemented and ETH will become a deflationary asset. This has strengthened the theory amongst some users that ETH could become a more effective store of value than Bitcoin.
In the weeks before the crash, Ethereum was the only altcoin absorbing institutional interest from BTC-based investment products. In mid-May, while Bitcoin investment products saw outflows estimated at $98 million, Ethereum’s saw a $27 million worth of inflows.
For the first time, the second cryptocurrency by market cap saw more interest from institutions on this metric. CoinShares report stated the following: “that investors have been diversifying out of Bitcoin and into altcoin investment products”. As seen in the chart below, negative price performance in the crypto market has impacted the asset flows in the past week.
Source: CoinShares
Altcoins With Great Potential After Bitcoin’s Crash
Besides Ethereum, Polygon (MATIC) has been the fastest to bounce with a 110% profit in the daily chart and an 81.4% rise against its Bitcoin pair. The project has received more attention from investors since its rebranding and climbed to the top 4 projects by Total Value Locked (TVL), according to data provided by DeFi Pulse.
Polygon’s TVL on the rise on a 30 day period. Source: DeFi Pulse
As reported by newsBTC, Polygon was running hot since March 2021, when this blockchain outperformed Binance Smart Chain (BSC), Avalanche, NEAT, and other Ethereum L1 Bridges. With over 100 projects building on top of its solution, Polygon (MATIC) has great potential for further appreciation.
Polkadot (DOT), Solana (SOL), Cardano (ADA), and Binance Coin (BNB) saw great resilience during the crash and seem poised for more profits in the coming months. BNB and the Binance Smart Chain ecosystem has proven that users are eager to participate in low-cost DeFi ecosystems with fast transactions.
Solana and projects, such as Terra (LUNA) and COPE, are meeting this demand. Cardano will launch its smart contract platform, Plutus, and its capacity to attract more users, developers, and projects will be key for its immediate future.
Dog them meme coins have been a “thing” during this stage of the bull run. Dogecoin (DOGE) was amongst the least affected during the crash, according to research firm Messari. The Elon Musk Effect favors this particular coin and will most likely continue to be a major factor in the crypto market and its recovery.

Early in the week, performance by market cap fluctuated around 0, by mid-week shifting into a bloodbath🩸
All top assets finished in double-digit losses, with two the least affected:
+ Cardano $ADA, -13%+ Dogecoin $DOGE, -26% pic.twitter.com/yiU6tNzbdY
— Messari (@MessariCrypto) May 21, 2021

bitcoin
Bitcoin (BTC) $ 66,693.87
ethereum
Ethereum (ETH) $ 3,253.61
tether
Tether (USDT) $ 1.00
bnb
BNB (BNB) $ 604.89
solana
Solana (SOL) $ 158.04
usd-coin
USDC (USDC) $ 0.999893
staked-ether
Lido Staked Ether (STETH) $ 3,253.70
xrp
XRP (XRP) $ 0.549165
dogecoin
Dogecoin (DOGE) $ 0.162020
the-open-network
Toncoin (TON) $ 5.91
cardano
Cardano (ADA) $ 0.506944
shiba-inu
Shiba Inu (SHIB) $ 0.000027
avalanche-2
Avalanche (AVAX) $ 39.45
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 66,776.89
polkadot
Polkadot (DOT) $ 7.39
bitcoin-cash
Bitcoin Cash (BCH) $ 507.60
tron
TRON (TRX) $ 0.113318
chainlink
Chainlink (LINK) $ 15.40
near
NEAR Protocol (NEAR) $ 6.89
matic-network
Polygon (MATIC) $ 0.754035
internet-computer
Internet Computer (ICP) $ 14.84
litecoin
Litecoin (LTC) $ 86.43
uniswap
Uniswap (UNI) $ 8.06
hedera-hashgraph
Hedera (HBAR) $ 0.165366
leo-token
LEO Token (LEO) $ 5.74
dai
Dai (DAI) $ 0.999482
aptos
Aptos (APT) $ 9.91
blockstack
Stacks (STX) $ 2.86
ethereum-classic
Ethereum Classic (ETC) $ 28.19
first-digital-usd
First Digital USD (FDUSD) $ 1.00
mantle
Mantle (MNT) $ 1.16
crypto-com-chain
Cronos (CRO) $ 0.133245
render-token
Render (RNDR) $ 9.09
filecoin
Filecoin (FIL) $ 6.44
immutable-x
Immutable (IMX) $ 2.39
stellar
Stellar (XLM) $ 0.119427
cosmos
Cosmos Hub (ATOM) $ 8.81
pepe
Pepe (PEPE) $ 0.000008
dogwifcoin
dogwifhat (WIF) $ 3.35
okb
OKB (OKB) $ 55.47
bittensor
Bittensor (TAO) $ 495.52
renzo-restaked-eth
Renzo Restaked ETH (EZETH) $ 3,183.87
arbitrum
Arbitrum (ARB) $ 1.19
vechain
VeChain (VET) $ 0.042850
xtcom-token
XT.com (XT) $ 3.05
kaspa
Kaspa (KAS) $ 0.128540
the-graph
The Graph (GRT) $ 0.296216
maker
Maker (MKR) $ 2,941.94
optimism
Optimism (OP) $ 2.57
fetch-ai
Fetch.ai (FET) $ 2.48