HashKey’s Jupiter Zheng suggests that a significant altcoin season is anticipated when bitcoin dominance exceeds 60% or 65%. Currently, bitcoin's dominance stands at 61.64%. Zheng highlights three key areas to watch for this altcoin season: Ethereum, Solana, and specific DeFi tokens like UNI and SKY. Ethereum faces challenges such as increased competition and lower transaction fees, and efforts are underway within its community to enhance alignment and practices for long-term success. In contrast, Solana is viewed as a strong contender due to its operational efficiency and focus on mass adoption, even though it is more centralized compared to Ethereum. Zheng predicts Solana may be the next to receive ETF selection after Bitcoin and Ethereum. However, he expresses concerns about the saturation of layer-2 solutions, suggesting that investors may only be able to focus on the top few. HashKey emphasizes the need to identify the best layer-2 projects from numerous options as the altcoin landscape evolves.

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