May 2018th’s top performing cryptocurrencies were Decred, Zilliqa and Bytecoin with Qtum, Nem and Cardano being the really heavy losers. After April it was expected to see an upward trend but did not actually happen. Most of the month was one of decline.
From the start of the month to the end of the month we saw a market capitalization that went down $90 billion. Ever since the top January peak, the crypto markets lost 60 percent of their value. Obviously, Bitcoin is the cryptocurrency that led the market, falling from $9,200 to around $7,500.
May Cryptocurrency Winners
A Binance pump led to Bytecoin being one of the few digital currencies that ended up at higher level than May starting point. BCN ended up with a 19% increase. It is now in the top 25 cryptocurrencies, having a market pack of around $1.2 billion.
Another cryptocurrency that did well was Zilliqa. It went up in value by 10%, mainly because it started to be listed in various exchanges. When compared with BTC, ZIL went up 36%, having a final market cap of $830 million.
The last big winner of the month of May was Decred, which gained 12%, 35% when compared with Bitcoin. Now it is the 29th crypto, having a cap of around $660 million.
May Cryptocurrency Losers
- Many of the really popular cryptocurrencies did not fare well in the month of May. Ethereum, although not doing as bad as Bitcoin did, lost around 16 percent of its value, reaching $560. $11 billion was removed from the market cap.
- Ripple XRP also took a beating, dropping in value around 27%. The company still goes strong though and moves further in the modern banking system. Although brand new partnerships were signed, the price of the cryptocurrency was not that much impacted. Although the coins that do well are those that can be used in the real world, Ripple did not manage to do so.
- With Bitcoin Cash we saw a start point of $1,300 but a drop of around 25% till the end of May. After the middle of the month hard fork, the downward slide was continuous.
- EOS caught the interest of investors because of the mainnet launch but it did not manage to stop the value of the coin from falling around 30%. Even so, when looking at the comparison with Bitcoin, the loss was just 16%.
- Litecoin was another big loser for May. It may be the sixth most popular cryptocurrency in the world but it still lost 20% of its value, all in line with what happened in the market.
- Cardano lost 38% of its value in the month of May. ADA is quite volatile, more than most other altcoins. It does fall hard and climbs fast. When compared with Bitcoin, it lost 23%.
Conclusions
Most cryptocurrencies lost value in May 2018. Just some of the small ones did well, mainly due to the fact that they were listed by some major crypto exchanges. While the May loses were not as bad as the March loses, the gains that appeared in April practically disappeared.
Image Source: Descryptive.com
