Market capitalization fell in May from around 418 billion dollars (May 1) to 328 billion dollars (May 31). This corresponds to a loss of 21.5 percent. Since the high in January, crypto markets had lost around 60 percent by the end of May. For three months, the market capitalization of the entire crypto market has fluctuated between 270 and 470 billion dollars.
Bitcoin was at $9,200 earlier this month and dropped to $7,500 by the end of the month. This represents a decline of 18.5 percent. Bitcoin’s trading volume fell from around $8.5 billion to $4.5 billion in May, but market dominance rose slightly from 37.7 percent to 39 percent in May.
Crypto Bitcoin code winners in May
There was a strong Bitcoin code pump of the crypto currency Bytecoin after it was listed on Binance. BCN generated a 19 per cent gain as the price rose from $0.0055 to $0.0065. Bytecoin was thus able to move up in rank in terms of market capitalisation, taking 25th place among crypto currencies.
Zilliqa is one of the few old coins in the top 30 to finish May higher. Similar to Bytecoin, Zilliqa benefited from a strong pump as it was listed on several crypto exchanges. ZIL saw a 10 per cent rise in May from $0.010 to $0.011. Zilliqa’s market capitalisation at the end of May was $830 million.
Decred was able to grow by 12 percent by raising the price from about $80 to $90. Decred is currently ranked 29th with a market capitalization of $660 million.
The Bitcoin revolution in the Month of May
Ethereum lost about 16 percent in May, so the Ethereum price fell from $670 to $560 at the end of the Bitcoin revolution. As a result, https://www.onlinebetrug.net/en/bitcoin-revolution/ Ethereum lost around $11 billion in market capitalization. There are currently rumours that EOS had something to do with Ethereum’s price decline.
Ripple’s XRP fell 27 percent from $0.82 to $0.60 in May. As usual, the company is forging a path into the banking system with new partnerships, but this has had little impact on the May crypto price. However, most Altcoins are still dependent on Bitcoin’s development, so the partnerships and successful use of XRAPID will have a long-term impact on the Ripple price.
Bitcoin Cash started the month at $1,300 and ended it down 25 percent. The Bitcoin Cash price peaked at $1,840 on the 6th, but this was not enough to stop the subsequent downtrend.
EOS has dominated the headlines in recent weeks with the release of the Mainnet, but this has not stopped the price drop of almost 30 per cent. Starting from an EOS rate of USD 17, this fell to around USD 12 by the end of the month.
Litecoin also followed the rest of the crypto market by dropping from $145 to $117. The loss of 20 percent corresponds to the general decline in crypto markets. Yesterday we reported that Charlie Lee described the Litecoin as an extremely secure network.
Cardano suffered in May as the Cardano price fell nearly 38 percent from $0.34 to $0.21 an ounce. Stellar Lumens also suffered heavy losses in May, falling 36 per cent from $0.42 to $0.27.
Iota lost 17 percent in May and fell from $1.9 to $1.57. Iota also had some interesting news in May which unfortunately could not affect the price. A partnership between Iota and Norway’s largest financial services provider was recently announced.
Nem – 38 percent
VeChain – 23 percent
Binance coin – 10 percent
Ethereum Classic – 28 percent
Qtum – 40 percent
OmiseGo – 37 percent
Most crypto currencies fell in May and this once again demonstrates the strong dependence on Bitcoin. Unfortunately, most of the profits in April were again made to nil by May. We have already reported today about the Pantera Capital CEO, who said in an interview that now would be a good time to buy Bitcoin, as he suspects that they would have reached „bottom“ in 2018.