Cryptocurrency Market Analysis: Top 5 Gainers of May 2021

A variety of cryptocurrencies have registered bullish gains in May 2021. In the past 30 days, the entire crypto market cap shrunk from $2.184 trillion to now $1.661 trillion, indicating a loss of over 31%.

CoinIdol, a world blockchain news outlet, created an overview of the top 5 cryptocurrency gainers among the top 100 coins that performed best based on the data by CoinMarketCap.

Some coins such as YFIDOWN have gained up to +320055%, Dopple Finance (DOP) increased by 1663%, Starbase (STAR) gained by +1088%, Kishu Inu (KISHU) soared by 815% and ALLY (ALY) gained by 764%.

The best performer among the top 10 tokens was Cardano, which gained by over 32%, followed by Dogecoin (DOGE) with 1.42%, Tether (USDT, +0.03%), and USD Coin (USDC, +0.003%).

SHIBA INU

SHIBA INU (SHIB), a crypto sitting in Rank #31, was the best performer in the past 30 days, and it managed to gain by about +412.76%. At the beginning of May, its price was $0.00000203. The coin closed the month at $0.00000928. Its 24 hour price is standing at about $0.000009038 (+4.33%), with a market cap (MC) of $3,575,884,140 (+4.28%) and 24h volume of $675,961,465 (-35.41%). 

Even though the trading volume for SHIB is falling, it is still bigger than that of its top rivals including Maker (MKR, volume of $173.97M), Neo (NEO, vol of $460.69M), Dai (DAI, $363.53M), Monero (XMR, $273.7M), Aave (AAVE, $520.21M), Filecoin (FIL, $599.17M), Wrapped Bitcoin (WBTC, $128.36M), THETA (THETA, $478.36M), Solana (SOL, $353.78M), Internet Computer (ICP, $142.41M), and Uniswap (UNI, $650.23M).

The MC for SHIBA INU needs to just double if it wants to surpass Wrapped Bitcoin that is currently occupying Rank #22.

SHIB’s 30d low and high was $0.0000014 and $0.0000388 (the coin has plummeted by over 76.7% since it traded at this price about 22 days ago), respectively, and it's now eying to touch above $0.00004. 

One of the reasons why SHIB is performing well in the market is that billionaires including Vitalik Buterin and celebrities are promoting and investing in it. For instance, the American rapper Meek Mill aka Robert Rihmeek Williams posted on Twitter that he is planning to buy Shiba Inu, a main competitor of Dogecoin.

Polygon

Polygon (MATIC), a cryptocurrency occupying Rank #15 by market cap, managed to skyrocket by over 110.49% in the past 30 days. The price of MATIC opened the month at $0.82 (at a market cap of $4.082B and volume of $966.7M) and closed it at $1.88 (with a market cap of $11.779B and volume of $3.157B).

At press time, Polygon is trading in red at about $1.82 (-1.21%), with a market capitalization of $11.346B and 24h volume of $1.843B.

Polygon’s 30d low and high price was $0.6908 and $2.68, respectively. The all-time high (ATH) of $2.68 was recorded about 15 days ago, meaning that May was a bullish trading period for MATIC. However, since that time when MATIC hit a new ATH, its price has plummeted by over 31%.

The market cap for Polygon has to gain by $4.21B if it wants to be among the top 10 tokens by market cap. That implies that it would have displaced Uniswap that currently has a market cap of $15.56B.

Telcoin

In the past 30 days, Telcoin (TEL), a token in Rank #60 by MC, gained by over 107.69% making it to be the third-best performer among the top 100 coins globally. TEL opened May with the price of $0.009573 (with a market cap of $570M and volume of $44.069M) and closed it with $0.03 (with a market cap of $1.71B and vol of $50.569M).

At press time, Telcoin is changing hands at around $0.0321 (+3.2%), with a market cap of $1.668B (+3.55%) and 24h volume of $41M (-18.7%). In May, Telcoin recorded a low price of $0.0123 and an all-time high of $0.0649 (hit 22 days ago).

Ethereum Classic

In the past 30 days, Ethereum Classic (ETC), a cryptocurrency in Rank #20 by market capitalisation, surged by over 38.96% making it to be the fourth-best performer among the top 100 digital currencies worldwide. ETC opened the month of May with the price of $36.33 (with a market cap of $5.188B and volume of $4.173B) and closed it with $70.22 (with a market cap of $8.167B and vol of $3.476B).

At the time of writing, ETC/USD price is sitting at $68.44 (2.41%), with a market cap of $7.96B (+2.51%) and volume of $2.772 billion (-19.08%). The price of Ethereum Classic hit a 30d low and a high of $40.24 and $176.16 (and its ATH that was recorded on May 6, this year). ETC is now aiming at trading above $180.

Cardano

In May, Cardano (ADA), a digital currency in Rank #5 by market cap, skyrocketed by about 31.99% making it to be the 5th best performer among the top 100 cryptos globally. ADA opened May with the price of $1.35 (with a market cap of $43.228B and 24h volume of $2.03B) and closed it with $1.74 (with a market cap of $55.678B and vol of $4.491B).

Currently, Cardano is changing hands at about $1.78 with a 24h gain of 5.13%, a market cap of about $56,813,487,204 (+4.9%). Nevertheless, its volume is in red after declining by about 10.77% in the last 24 hours to stand at $3,834,161,938.

Cardano’s 30d low and high price was $1.03 and $2.46, respectively - and this turned out to be its new ATH price, and was recorded about 17 days ago.