Cryptocurrency Gainers And Losers In May
A cryptocurrency research platform Chain Open Research, more commonly known as Corindex, has released its monthly report regarding the most outstanding performances and changes in standings of particular cryptocurrency assets. Let’s go over whether they bring anything new to the table.
As the report consisted of data reflecting the majority of cryptocurrency exchange operations, it’s safe to consider that the statistics accurately show the overall state of affairs. The data in the report is split up into five chapters reflecting what they consider to be the most crucial indicators of crypto asset performance.
The first part or chapter in the report is about the change in the transaction volume.
It’s predicted that Bitcoin experienced the biggest spurt in terms of quantity of transactions during May, increasing the total volume up to 706 068 435 349,00 USD, which is 161.41% of the April’s monthly volume. Ethereum also experienced a comparable surge of volume, totalling at 306 447 687 228,00 USD, 52.31% larger than the previous month. The third largest volume in the report is of 124 779 145 684,00 USD belonged to the Ripple and constituted a 43 per cent increase over April’s transaction volume. The best numbers in the report compared to April’s results were shown by TRON, the transaction volume of TRON almost doubled during May, Ripple, which gained 77.34% and Bitcoin Cash, which experienced an increase of almost 73%, which brought its volume up to the 79 123 499 533,00 USD.
Cryptocurrencies are mischievous for their volatility, so the second chapter in the report deals with the flat increases in monthly average rates.
According to it, Bitcoin gained a flat plus 3 220,75 USD — a 60.44% change; its average rate for May is 8 549,72 USD, with a monthly high of 9 040,60 USD and low of 5 314,76 USD. Ethereum experienced an increased its average rate by 91.25$ — a change of 56.45%. Moving on to lower cap currencies, Bitcoin Gold went through the largest increase of 81.68%, with a monthly low of 13,77 USD and a monthly high of 31,47 USD. It’s also worth noting that almost all currencies in the month saw remarkably close to their monthly highs.
The third chapter reports the same issue but from the with a standpoint of relative change.
Thus Times New Bank experienced impressive growth of 271.54%, with a monthly low of 0,00367148 USD and a monthly high of 0,00212158 USD. Dent and VeChain went through a nearly identical growth spurt of ~140%. For instance, Chainlink’s monthly low was 0,46413333 USD, but monthly high reached 2,51420641 USD, even though the average price changed by “only” 117%.
The fourth chapter deals with flat declines in average monthly rates.
May saw a significant growth all across the сryptocurrency board, but some projects were able to go in the red nonetheless. Byteball Bytes experienced the largest flat decline of -6,74000527 USD — A -15.65% drop from April. The third largest decline accompanied TomoChain that decreased by 15 cents — a -20.87% come down. It really reveals volumes for the overall state of the cryptocurrency market if the biggest decline of the month was shy of seven dollars.
The fifth chapter reports the biggest declines in monthly averages, but this time in terms of percentage.
The biggest relative decline of the month was -37.6% which was experienced by Burst, which had a monthly low of 0,00264251 USD and high of 0,00806940 USD. Electronum averaged at 0,00410387 USD, which is 66.6% of its April’s average price. Cryptaur and Cred both weakened by approximately 30 percent, and TokenClub had a negative change of -25.63%.
The reported information has been compiled using publicly available sources and is accepted as is. The presentation contains no promotional material and is solely intended to inform its reader. Corindex bears no responsibility for any inaccuracies or misrepresentations in this document, nor any outcomes resulting from actions taken based on this information.
Blockchain Magazine is an independent platform mainly focused on news and stories related to blockchain and other decentralized technologies. We are committed to deliver and present a reliable and true picture of blockchain framework.