Cryptocurrency Market Analysis: Top 5 Losers of May 2021

The month of May 2021 has been a rough trading period for most of the popular cryptocurrencies in the market. Some coins such as Bogged Finance (BOG) lost by 100%, DOTDOWN plunged by 99.26%, Bridge Oracle (BRG, 98.88%), Polar (POLARV3, 98.6%), and Zurcoin (ZUR, 98.47%).

CoinIdol, a world blockchain news outlet, created an overview of the top 5 cryptocurrencies that registered the biggest losses in May 2021 based on the data by CoinMarketCap.

We have seen big names and actions by regulators influencing the cryptocurrency market. For instance, in May, China and Iran announced a total ban on Bitcoin mining, a thing that led to the fall in the price of Bitcoin, the largest cryptocurrency by market cap. Heated discussions from the CEO of Tesla and SpaceX about Bitcoin not being environment friendly also contributed a lot to its fall.

OKB

OKB, the cryptocurrency in Rank #97 by market cap, was the worst performer in May among the top 100 coins, and it managed to decline by about 66.72%. OKB price opened May at $21.25 (at a MC of $2.055B and vol of $1.69B) and closed at $13.69 (with a MC of $821M and volume of $602M).

On June 1, OKB was changing hands at about 13.35 (+0.72%), with a market cap of $801,121,893 and 24h volume of $470,017,320.

In the past 30 days, the OKB price recorded a low of $9.90 and a high of $42.17. The all-time high for OKB was $44.17 that it recorded on May 3, 2021 (about a month ago). Fortunately, in the past 2 years, OKB has managed to increase by over 968%. This shows steady growth.

Terra

Terra (LUNA), the token in Rank #44 by market cap, was the second-worst performer in May among the top 100 coins, and it managed to drop by about 64.42%. LUNA price opened May at $16.69 (at a market cap of $6.461B and vol of $202M) and closed at $6.56 (with a market cap of $2.684B and volume of $418M).

On June 1, LUNA/USD was trading at around $6.54 (6.61%), with a market capitalization of $2.726B and 24h volume of $220M.

In the past 30 days, the LUNA price recorded a low of $3.94 and a high of $18.14. The all-time high for Terra is $22.33, recorded on March 21, 2021 (about 2 months ago). Unfortunately, in the past 1 year,  Terra has managed to soar by more than 5394% - and this shows significant growth.

Waves

Waves (WAVES), the coin in Rank #66 by market cap, was the 3rd worst performer in May among the top 100 digital currencies, and it managed to fall by around 60.23%. WAVES price opened May at $23.27 (at a market cap of $2.367B and vol of $171.6M) and closed at $13.91 (with a market cap of $1.464B and volume of $143.3M).

On June 1, Waves price was in green at about 13.22 (+0.68%), with a market cap of $1.392B and 24h volume of $103M.

In the past 30 days, the WAVES price hit a low of $11.89 and a high of $41.33. The all-time high for WAVES is $41.33 that it recorded on May 4, 2021 (about a month ago). Since that time, its price has plummeted by over 68%. Fortunately, in the past 5 years, OKB has managed to grow by 10659% - and this shows a huge growth in the market.

Siacoin

Siacoin (SC), the virtual currency in Rank #96 by market cap, was the 4th worst performer in May among the top 100 cryptocurrencies, and the coin dropped by about 58.69%. SC price opened May at $0.04 (at a market cap of $1.902B and vol of $187M) and closed at $0.02 (with a market cap of $855M and volume of $51M).

On June 1, Siacoin was changing hands at nearly $0.01721 (+0.27%), with a market cap of $824M and 24h volume of $41.3M. 

In the last 30 days, the SC price recorded a low of $0.01202 and a high of $0.04476. The all-time high for Siacoin is $0.1117 that it recorded on January 6, 2018 (about 3 years ago). Since that time, its price has dropped by 84.59%.

Fortunately, in the past 6 years, SC has managed to soar by more than 152144% and this indicates a sign of increased adoption, investment and use of the coin in question.

Fantom

Fantom (FTM), the coin in Rank #94 by market cap, was the 3rd worst performer in May among the top 100 digital currencies, and it managed to fall by around 60.23%. Fantom has just surpassed and displaced SwissBorg (CHSB) and Siacoin in terms of market cap. FTM price opened May at $0.74 (at a market cap of $2.05B and vol of $536M) and closed at $0.32 (with a market cap of $816M and volume of $56M).

On June 1, Fantom price was in green at nearly $0.3237 (2.24%), with a market capitalization of $825M and 24h volume of $70.35M. 

In the last 30 days, the Fantom price touched a low of $0.1841 and a high of $0.9571. The all-time high for FTM is $0.9571 that it recorded on May 10, 2021 (about 23 days ago). Since that time, its price has plummeted by over 66%. What is promising is that, in the past year, FTM has managed to surge by 16627%.