Another month has already passed and it left some important information to analyse. Which cryptocurrencies registered the best performance? How the market evolved? There are some winners and losers in May that are worth talking about.
Market News Roundup May
One of the first point to analyse is the total market capitalization of cryptocurrencies. At the beginning of May, the market started slightly above $400 billion dollars, and finished more than $70 billion dollars down. This means that during the month, the market lost 20% of its total value. Just to compare with April, the market moved from $263 billion dollars to $431 on its highest point at the end of the month. 
May helped Bitcoin to slightly recover part of the market value it lost during the last months. It could recover 1% point and was near to reach 40% of the total market capitalization. Which is quite interesting to see that since the beginning of the year, Bitcoin could stand very well the increased influence that tokens created by the ICO craziness at the end of 2017 and he beginning of 2018.
It is important to remember that Binance listing Bytecoin (BCN) at the beginning of May, helped it increase its value 100% in just a few hours, surging into the top 25 virtual currencies. Now it is the 21st most important coin in the market.
Bitcoin (BTC) started May being traded around $9000 dollars, it was near to reach $10,000 but then it was traded near $7,500. That means that it lost almost 30% (from $10,000) of its price in a very short period of time (which in the crypto market is not unusual). From the beginning to the end of the month, it lost %16 – it did not suffer as much as other currencies.
Ethereum (ETH) moved from $644 to $560 at the end of the month, losing 13% of its value. From its highest point in May it lost over 32%.
Bitcoin Cash (BCH) and Ripple (XRP) had also a difficult month. Both lost between 25% and 27% but both teams behind are trying to promote these cryptocurrencies. Ripple is partnering with important financial institutions, and BCH is trying to spread as a means of payment for merchants.
June seems a little bit different. It seems that Bitcoin and the market has reached a bottom, and now are trying to move up again. We just need to wait a little bit longer to see how these virtual currencies will prosper.
EOS, which was approximating its mainnet launch followed the cryptocurrency market in general. At the beginning of May it was traded above $17 dollars, and the last day of May it reached $12 dollars per coin – that means that the cryptocurrency lost 30% of its value.
Litecoin (LTC)Â had a similar behavior. It started the month near $152, and ended it being traded around $119 dollars. Compared to other currencies it lost just 21% of its value. It is also important to mention that it peaked to more than $180 dollars during the first week of May.
Cardano (ADA), currently the 7th most important virtual currency, did not have a good month. It started the month being traded around $0,34 dollars per coin, and it lost 35% of its value. The last days of May it could be bought in the market for just $0,22 dollars.
Stellar (XLM), another important player in the market, lost 35% of its value. The cryptocurrency moved form $0,44 dollars per coin to $0,29 dollars. Which is an important lose compared to other virtual currencies.
IOTA (MIOTA), operated relatively well compared to the other top 10 cryptocurrencies. It lost less than 10% of its value, passing from $1.96 to $1.77 dollars per coin. Clearly, it was able to move in the bear market with less problems than other currencies.
The last top 10 cryptocurrency was Tron (TRX). An important player that has been lately in the media for its mainnet launch that took place at the end of May. It suffered 33% loss during May, more than the average virtual currency during this month.
It is important to mark that Bitcoin was one of the best performers in the Top 10. It shows less volatility than other cryptocurrencies, but it is also the most mature in the market and the older. In the future, we could see this volatility to be reduced even more as more players enter the game.
Tokens can be a good investment in some occasions, but when the market is bearish, Bitcoin seems to be one of the best choices.
