Cryptocurrency Market Analysis: Top 5 Gainers of June 2021

In the month of June, the overall cryptocurrency market reached a high of $1.776T and a low of $1.165T, a decline of 52.5%. USD Coin (USDC, $1.00, 30d gain of 0.02%) was the best performer for the month among the top 10 coins by market cap.

The month was largely characterised by negative sentiment in the market. The biggest contributor to the market's collapse was the widespread hunt for cryptocurrency mining and trading in various countries, including China and Iran, as reported by CoinIdol, a world blockchain news outlet.

Increasing negative comments against Bitcoin and cryptocurrency payments, particularly from Jerome Powell, the head of BIS (Bank of International Settlements) and former U.S. President Donald Trump, also played a big role in bringing the market to its knees. Trump called bitcoin a scam and Chairman Jerome said cryptocurrency is not a good store of value and that virtual coins are not suitable for payments.

However, during this trading period, some cryptocurrencies such as Bogged Finance (BOG) gained over 660420%, PalGold (PALG) gained over 28186%, KickToken [alt] (KICK) skyrocketed over 8098%, xxxNifty (NSFW) gained over 7485% and Xenon Pay II (X2P) gained 1315%.

However, the list of top 5 June gainers looks like this: 

XinFin Network

The #64 ranked crypto asset XinFin Network (XDC), opened the month of June when it was trading at $0.06, with a MC of $709M and a volume of $4.32M, and closed the month when it was trading at $0.08 and its MC had increased to about $968.5M. So it gained about 58% and was the best performer among the popular 100 tokens.

On June 30, XDC/USD was trading in the green at $0.09286, with a 24-hour gain of about 14%. Its current market cap sits at $1.143B, indicating an increase of over 13%, and 24hr volume of $13.437M showing a gain of over 72%.

Amp

Amp (AMP), a cryptoasset sitting in rank #42 is the new virtual security coin offering on-the-spot, verifiable assurances for any type of value transaction. AMP opened June when its price was $0.04, a market cap of $1.545B and volume of $1.477M, and the month ended when its price was $0.06, a MC of $2.438B and volume $28.877M. Therefore, AMP gained almost 46%, according to CoinMarketCap data.

However, AMP closed the month in a bearish trend as its price was in the negative. In early July, the AMP /USD price stood at $0.0555, down about 2.58%. The trend amp cryptocurrency is also similar to TerraUSD, as since the beginning of 2021, AMP has changed hands in the range of $0.03 to $0.07, suggesting that the coin is somehow stable.

Quant

Quant (QNT), a #78 ranked cryptocurrency, opened the month of June when it changed hands at $43.81, with a MC of $550.966 million and a volume of $4.996 million, and closed the month when it was trading at $69.62 and its market cap had increased to around $840.474 million. This means that Quant has gained about 43.4% in the last 31 days.

In early July, QNT/USD was trading in the green at $67.5, with a 24-hour gain of about 1%. The current market cap is $814M, indicating growth of over 1%, and 24hr volume of $9.6M, indicating a decline of about 59%.

Waves

In the last 31 days, Waves (WAVES), the crypto ranked #52, managed to skyrocket by over 19%.

On July 3, WAVES price was at over $16 (+0.8%), with a MC of over $1.689 billion and its 24h trading volume is at $107.6M - volume has dropped by almost 55%.

TerraUSD

The #45 ranked digital currency started the month of June 2021 trading at $1.00, with a MC of $1.945B and volume of $25.666M, and closed the month trading at $1.00 and its MC had risen to about $1.906B, up just 0.12% in the last 31 days.

The value of TerraUSD (UST) does not fluctuate as much as Bitcoin. Since the beginning of the year, UST has traded in the range of $0.97 to $1.04, but at most times it has changed hands at $1.00.

On July 3, UST was still trading in the green at $1.00 with a 24hr gain of around 0.04%. The current level of MC is $1.927B, up more than 1.10%, with 24h volume of $19.165M, indicating a decline of about 29%.