A 50 percent pump for crypto markets in May with BTC, ETH, BCH, EOS and IOTA gaining more than 50 percent each.
For a fourth month this year, crypto markets have surged with May market performance being the best so far. Total market capitalization surged by 50 percent in May, largely driven by Bitcoin which made it to $9,000. A ten month high of $285 billion was hit on May 30 before a slight pullback. Gains have been impressive for most of the top crypto assets and some have doubled in price.
As in April, Bitcoin has been the driver of momentum for crypto markets continuing its uptrend and reaching a new 2019 high. Starting out at $5,350 Bitcoin surged 55 percent to end the month at $8,320. A high over $9,100 was touched at the end of May before a slight correction cooled markets off a little. BTC volume had surged to $25 billion and the scene was reminiscent of late 2017.
May Crypto Winners
Ethereum performance equaled that of Bitcoin has it pumped 60 percent to end the month at $260. Gains previously had been very hard to come by for ETH but May has finally seen a resurgence as it returned to highs not seen since August 2018.
XRP has not been as fruitful as the two above it but the Ripple token still managed a 37 percent gain in May to end it a $0.423. Bitcoin Cash did much better conversely with a surge of just under 60 percent to end the month at around $425.
Litecoin had a solid run in May jumping 48 percent from $74 to $110. LTC is likely to continue this momentum in the run up to its halving event in August. EOS matched ETH in terms of performance adding 60 percent over the month to end it at $7.75.
Binance Coin, which has been a train this year, made 45 percent in May moving from $22 to $32. BNB also hit a new all-time high of $35 just before month end. Bitcoin SV had been manipulated by a fake news scam so its 250 percent surge to $190 from $54 cannot really be considered. Rounding out the top ten is Stellar which has been slow to recover making just 30 percent to end May trading at $0.13.
Tron managed 34 percent in May climbing to $0.032 by the end of it and Cardano was even weaker adding just 22 percent over the month. Monero did much better with a 48 percent increase to end May at $92.
Dash made a similar 44 percent reaching $160 by month end while IOTA had better fundamentals driving it up 60 percent to $0.49. Cosmos increased by 43 percent, Ethereum Classic 39 percent, but Tezos only managed 21 percent. NEO gained a solid 35 percent and rounding out the top twenty was NEM surging almost 70 percent in May.
There were no losers last month which has been one of the best since the previous bull market. The top performing cryptocurrencies in May 2019 were Bitcoin, Ethereum, Bitcoin Cash, EOS, IOTA and NEM, all of which gained in excess of 50 percent. Those not performing so well getting smaller gains included Stellar, Cardano, and Tezos.
All figures from Coinmarketcap.com
Image from Shutterstock
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