Altcoin Market Set for Volatility This Week

The altcoin market is expected to be volatile this week due to several key events scheduled to take place. One of the most significant developments is the launch of Starknet's strkBTC on May 12, which will allow Bitcoin holders to dive into DeFi without losing privacy.

Another major event is Ethereum's product reveal, which is rumored to include stablecoin innovations or yield-generating tools. This could have a game-changing effect for DeFi users and potentially attract more institutional money to the platform.

The US Senate vote on a new Fed Chairman on May 11 may also have a significant impact on the market. A shift in leadership could mean softer interest rates, which would favor risky assets like cryptocurrency.

Additionally, several Layer-2 upgrades and DeFi launches are scheduled to take place throughout the week, including Ronin's migration to an Ethereum L2 and Sushi's launch of Perps v2 futures platform.