In may capitalization of the whole market has risen from 36,585bln$ to 82,876bln$. It is a growth of 127%. Market cap of every other cryptocurrencies (excluding Bitcoin) has risen from 14,679bln$ up to 45,506bln$. It is a growth of 210%. It was another extraordinary month for the cryptocurrencies.
May`s top 3 cryptocurrencies are as presented: The leader is the same as in April. Stratis gave 611% return rate and since 1 April 2525% (two months). The second place belongs to Stellar Lumens, which gave 602% return rate. The third is Waves with 390% result. Also Ethereum performed very well with result of 194%.
In May couple of problems found their solution: Bitfinex`s problems with banks, OkCoin has resumed cryptocurrency withdrawals (the have been suspended since 9th February). Bitcoin has been beating another records with All-Time-High price exceeding 10,000 PLN (2760$).
Important was also information on Consensus 2017 conference about SegWit acceptation
Prices of Bitcoin as presented on 1st June
For Bithub.pl Domink Gordel comments May:
May once again has brought a lot of variability on the cryptocurrency market. Once again altcoins were on the wave reaching higher and higher results on the exchanges. The same was with Bitcoin – during almost whole may there was a hossa, which resulted in new – exceeding 2700$ – peaks. It is over several dozen percent growth during whole month. Polish exchanges achieved levels exceeding 10,000 polish zloty (PLN). However, there was also time of fear when in the last days of May Bitcoin price dropped over 900$ (to 1800$ level). It also depreciated price of couple of others cryptocurrencies. Many people announced that the Bitcoin bubble has just popped. Falling price was stopped and the most important cryptocurrency has returned to levels exceeding 2200$.
In my opinion, Ethereum deserved the most attention during May. In just a month it has grown from 80$ to 220$, which once again sets ETH on the second position when it comes to cryptocurrency market capitalization. Over 20 bln$ market cap may makes an impression, considering that just couple of months ago even Bitcoin did not reach such value.
Further growths on Bitcoin in an upcoming days are not as obvious as it would seem. The price is in the area of resistance levels and consolidates before another movement. Quick return to the higher levels confirms that any deeper falls are quickly blocked by the buyers. However, also the sellers aren’t giving up. So are we going to see 3000$ in June or another price falls? The market seems to be looking towards the first solution, yet many news and events connected with for example exchanges may change the direction.
Adrian Gozdera`s comment on May for Bithub.pl:
New month and new Bitcoin records all over the globe. Undoubtedly new price peaks were reached because of Asian market (Korea & Japan). Bitcoin were even hundreds of dollars more expensive than in Poland or in the USA. Exchanges such as Bitfinex, Kraken or Coinbase have been left at the very end after Korbit, Quione, Coinone or Bitflyer. Many altcoin projects also reached their ATHs. On the end of the month worth mentioning is ICO project, which gained all necessary funds in less than a minute, BAT – Basi Attention Token. It certainly shows that more and more money are entering the cryptocurrency market – even more than the market can actually take in. This is why we are witnessing the biggest hossa in the history of cryptocurrencies.
So long as new investors will appear with new capital and exchanges will have new records of users, we will see further growths, big volumes and price records. It is worth starting to observe indicators such as number of people online (it is for example possible on Poloniex). If it will come to drastic fall or inhibit of growths than I am certain that recession on altcoins awaits us – the same with Bitcoin though.
Author: Dawid Muszyński, Flyingatom.com
Previous ranks of cryptocurrencies: