5 Altcoins to Buy in May 2024

5 Altcoins to Buy in May 2024


  1. Solana (SOL) and Sui (SUI) represent high-performing blockchains with significant scalability, attracting interest for their ability to handle large transaction volumes and offer low-cost solutions.
  2. Ethena (ENA) introduces an innovative financial model by using staked ETH to create a delta-neutral portfolio, providing stability in volatile crypto markets.
  3. Optimism (OP) and Chainlink (LINK) contribute advanced solutions to Ethereum’s congestion and data authenticity challenges, enhancing blockchain interoperability and efficiency.


Discover a diverse range of altcoins, including high-performance blockchains (Solana, Sui), innovative finance (Ethena), and Ethereum solutions (Optimism, Chainlink).




After the Bitcoin halving, despite Bitcoin still undergoing corrections, the cryptocurrency market continues to thrive, bringing many promising altcoins worth paying attention to.


This article highlights some projects that stand out due to their recent activities and potential. Looking to expand your investment portfolio or just curious about where growth is happening?


Keep reading to delve deeper into five altcoins that are worthy of market attention.




Solana (SOL) is a cryptocurrency designed similarly to Ethereum (ETH) but with enhancements, leading it to be dubbed by users as the new “Ethereum killer.” Launched in March 2020, Solana has since become a popular digital asset, ranking fifth in total market capitalization.


As it continues to evolve, the Solana ecosystem has progressively expanded into areas like DeFi, tools, infrastructure, NFTs, gaming, wallets, and DApp development. These sectors are experiencing rapid growth, propelling the entire Solana ecosystem forward with explosive development.

Solana (SOL)




Sui is a decentralized first-layer blockchain, developed by Mysten Labs, that offers excellent transaction speeds at a low cost. On May 3, 2023, the Sui mainnet went live. Subsequently, the price of its cryptocurrency, $SUI, surged to $2, marking an increase of 2000%.


The blockchain was created by former executives from Meta’s (formerly Facebook) now-disbanded digital wallet project, Novi. Its main advantages lie in its high performance and scalability, enabling it to handle a large volume of transactions simultaneously, significantly reducing latency and costs. Additionally, Sui utilizes the native programming language Move and transaction parallel processing technology, allowing it to support more complex applications and a larger user base without compromising security.

Sui (SUI)




Ethena (ENA) is an open hedge fund that provides a $1.3 billion USDe token, using staked ETH as collateral to short an equivalent amount of ETH. This creates a delta-neutral portfolio, ensuring that the net value of Ethena’s assets remains stable regardless of the underlying asset value fluctuations, while earning from both ETH staking and interest on short positions.


Due to the perfect hedging of staked ETH with an equivalent nominal value short position, USDe can be minted at a 1:1 collateral ratio. This makes Ethena’s capital efficiency comparable to dollar-backed stablecoins like USDC and USDT, while also avoiding reliance on traditional financial markets, where asset issuers must comply with real-world regulations.

Ethena (ENA)




Optimism is one of Ethereum’s Layer 2 scaling solutions designed to help reduce transaction fees and alleviate overall network congestion. It employs a technology called Optimistic rollups to bundle large volumes of transaction data into smaller, more digestible batches. 


Optimism currently has the second-largest Total Value Locked (TVL) in Layer 2, and its OP stack technology has been adopted by Coinbase to develop its own public blockchain, Base. The application of this technology has also become a catalyst for the price of the OP token. Therefore, it is worth continuing to monitor whether the OP stack will be adopted by more projects in the future, as well as the development of the ecosystem on Optimism.

Optimism (OP)



ChainLink is currently the most influential leader in on-chain Oracle services.


Its technology and platform connect external systems with blockchains, enabling the effective use of blockchain technology in external tools, especially in areas like finance, securities, insurance, and trade, where data authenticity is crucial. This has garnered significant attention for Chainlink’s technology and platform. 


In the future, we are likely to see more integration of external technologies with Chainlink, allowing external data to be integrated into blockchains. This integration of external data with blockchains is known as “Oracles,” which can be centralized or decentralized. Chainlink utilizes decentralized Oracles.

Chainlink (Link)


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