Coin Race: Top Winners/Losers of May; Is Summer Coming for Crypto Holders?

Coin Race: Top Winners/Losers of May; Is Summer Coming for Crypto Holders?
Source: AdobeStock/ yo camon

June is here, summer has actually shown up, and the outlook for the crypto market has in current days lastly appeared a bit brighter.

But although there have actually been some green shoots in the previous couple of days, the previous month as a whole has actually still been rather unpleasant for most crypto financiers. The falling rates in May have not just impacted those holding heavy bags of the luna classic (LUNC) token or the stopped working stablecoin terraUSD (UST), however likewise common bitcoin (BTC) and ethereum (ETH) financiers.

The losses in May followed another month of losses seen in April, when all coins in the top 10 by market capitalization (as ranked byCoincodex com) published losses. That followed a fairly great month in March, with all of the top 10 coins publishing gains for the month.

In May, nevertheless, the marketplace was back in a sea of red.

Top 10 coins in May

Like last month, all of the top 10 coins by market capitalization– with the exception of stablecoins– were down inMay

1654080383 437 Coin Race Top WinnersLosers of May Is Summer Coming for
Source:Coincodex com, May 1, 9:43 UTC

The worst-hit from the top group of coins was solana (SOL), which visited almost 50% for the month. The fall is substantial thinking about the size of the coin’s market capitalization – USD 15bn. As an outcome, SOL has actually fallen in the ranking, from being number 6 per market capitalization on May 1 to number 9 today.

Following SOL, bag holders of the initial meme coin dogecoin (DOGE) were the second-hardest hit last month. Over the course of May, DOGE fell by near 35% to a rate of USD 0.08589, weighed down partially by the news that Tesla employer Elon Musk has actually put his quote to purchase Twitter on hold.

Looking rather at which coins succeeded, it’s clear that financiers have actually discovered a ‘safe harbor’ in bitcoin, regardless of the coin being down near 17%. The top crypto was followed by BNB as the 2nd greatest entertainer on a relative basis last month if we leave out stablecoins.

Best from the top 50 in May

Despite May being a bad month for most cryptos, some coins in the top 50 by market capitalization still saw relatively good gains.

1654080383 359 Coin Race Top WinnersLosers of May Is Summer Coming for
Source:Coincodex com, May 1, 9:43 UTC

The finest entertainer in this group was chain (XCN), an obscure clever agreement platform that increased in rate in May to land an area in the top 50 by market capitalization. The token leapt by a huge 124% in May to a rate of USD 0.181.

XCN was followed by tron (TRX), which acquired 25% for the month, increasing to a rate of USD 0.083, after likewise seeing a more powerful efficiency than many other coins inApril The 3rd is the financing and loaning platform Compound (COMPENSATION)’s interest-earning cUSDC token, which acquired 15% for the month.

Worst from the top 50 in May

Moving to the worst entertainers in the top 50 by market capitalization, it ends up being clear simply how bad the month has actually been for some unfortunate financiers, with holders of numerous tokens seeing their wealth halve.

1654080383 804 Coin Race Top WinnersLosers of May Is Summer Coming for
Source:Coincodex com, May 1, 9:43 UTC

On top of this list is apecoin (APE), a token provided by and for the Bored Ape Yacht Club (BAYC) non-fungible token (NFT) neighborhood. The token fell by a massive 61% for the month to a rate of USD 6.72.

The second-worst entertainer last month from this group was avalanche (AVAX), which fell 56% to a rate of USD 25.79. The 3rd is the already-mentioned SOL token with its fall of 49%, followed by near procedure (NEAR), which visited 48%.

Winners & & losers from the top 100

Taking a take a look at all coins in the top 100 by market capitalization, those XCN token once again sticks out as the clear winner. The token was followed by WEMIX, an obscure task that websites like Coin Gecko and Coin MarketCap have actually ranked far lower in terms of market capitalization – and which acquired 71%.

In terms of the losers, the stopped working Terra network took the throne as May’s worst entertainer without a doubt. The network’s native token, which now passes the name luna classic, fell by 100% over the month to a rate of USD 0.000106. It was followed by the exact same network’s algorithmic stablecoin UST, which visited 93%, from its peg at USD 1 to simply USD 0.067 as of completionof May

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