The current market funds are shifting from bottom-layer L1 public chains to more practical, story-driven niche sectors, and overall it is not a broad-based rally, but a rotation around clear catalysts.

· AI infrastructure: TAO (Bittensor) is priced at $290–300, up 4–5% in 24 hours and over 10% in 7 days, combining decentralized machine learning and incentives; ICP is also seeing returning fund flows.
· Privacy coins: ZEC (Zcash) surged by over 28% in a single day to $270, benefiting from a renewed privacy narrative, practical zk-proofs solutions, support from Grayscale Funds, and increased on-chain activity.
· Meme coins: DOGE is trending steadily upward, WIF is up by about 24%, and PENGU leverages IP and community activity to stay active in May; despite high volatility, it always manages to attract rotation capital.
· Prediction markets: Hyperliquid’s HIP-4 was launched on May 4 on the mainnet, enabling permissionless prediction markets with zero fees and fully on-chain execution. By staking 1 million HYPE, you can create a market; on the first day, 6.05 million contracts were traded, capturing a 0.7% share, directly challenging Polymarket, with the HYPE token rising in tandem.

Overall, AI and prediction markets follow more long-term logic, while privacy and meme tokens are driven more by sentiment. Market sentiment is more positive than last week, but the pace of rotation is fast—so be mindful of risks.
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