Stablecoins, once dominant in crypto portfolios, have experienced a notable decline among both institutional and retail investors. According to Bybit’s Q2 Asset Allocation report, stablecoin holdings dropped from 50.2% in December to approximately 42.8% in May.
Bitcoin Remains Resilient
Despite this shift, Bitcoin continues to reign supreme. It constitutes a significant 26% of total assets held by users. When excluding stablecoins, Bitcoin and Ethereum together account for 61% of crypto investments.
Retail Traders Prefer Bitcoin
Retail traders mirror institutional preferences, favoring Bitcoin over Ethereum. Institutional positions in BTC and ETH are more concentrated, with holdings of 39.4% and 20.9%, respectively. The recent approval of Bitcoin Spot ETFs by the SEC has further solidified Bitcoin’s appeal for institutions.
Altcoin Fluctuations
Altcoin holdings have seen fluctuations. Initially dropping from 25% in January 2024 to 20.9%, they rebounded to 22.5% in May. Retail traders, particularly drawn to meme tokens and Bitcoin Layer 2 projects, display a stronger preference for altcoins.
stablecoins are losing ground, Bitcoin remains resilient, and altcoins continue to sway with market narratives.
Bitcoin 
Ethereum 
BNB 
Solana 
Cardano 
Chainlink 
Avalanche 
Sui 
Polkadot 
Mantle 
Bittensor 
NEAR Protocol 
Internet Computer 
Cosmos Hub 
Algorand 
Aptos 
Kaspa 
Filecoin 
Render 
Arbitrum 
Jupiter 
Sei 
Stacks 
Optimism 
Injective 
Celestia 
The Graph 
Pyth Network 
THORChain 
Immutable 
MultiversX 
Beam 
Akash Network 
dYdX 
Flow 
Illuvium 
Manta Network 
Kujira 
Metis 
Dymension