Viewpoint: Altcoins get rid of negative trends, investors are changing their views on cryptocurrencies

PANews reported on May 10 that according to CoinDesk, after the successful upgrade of Ethereum Pectra, ETH has increased by more than 30% in a single week, while other altcoins SOL, ADA, XRP and BNB have also achieved 2-6% increase.

Nick Ruck, head of LVRG Research, said traders believe the cryptocurrency industry may finally find a second opportunity to hedge market uncertainty, and investors are changing their views on cryptocurrencies as altcoins have moved away from negative trends and find a new round of risk appetite sentiment brings buying pressure. Traders are still closely watching this weekend's U.S.-China trade talks, which will begin in Switzerland late Saturday, and any signs of a deadlock or tensions re-heating could undermine the current rally.