The last week in May was a bullish period for the entire cryptocurrency market. The entire cryptocurrencies opened the week with the total market capitalization of $1.23 trillion, it kept on increasing and it is now standing at $1.558 trillion, indicating a gain of about 27%.
In the past 7 days, some tokens such as Doge Token (DOGET) increased dramatically as higher as 623149.72%, Crypto Village Accelerator (CVA, +1355%), Pegazus finance (PEG, +1043%), BlossomCoin (BLOSM, +825%), and Bezoge Earth (BEZOGE, +624%).
However, not all cryptocurrencies enjoyed the week. We have seen the prices of several cryptocurrencies touch the ground. For instance tokens like Bogged Finance (BOG) declined by about 99.99%, Polar (POLARV3, -97.66%), Zurcoin (ZUR, -97.07%), JustLiquidity Binance (JULB, -81.77%), and Amun Bitcoin 3x Daily Short (BTC3S, -80.49%).
Among the top 100 coins, the best performer of the week was Polygon (MATIC) with a 7d gain of over 84.29%, followed by BakeryToken (BAKE, +72.37%), Enjin Coin (ENJ, +59.16%), Helium (HNT, +54.43%), and THORChain (RUNE, +43.69%). Last time the best performer was TrueUSD (TUSD, +0.15).
Also, the top losers among the top 100 tokens globally were Internet Computer (ICP is among the top 10 coins by market cap) that dropped by about 19.4%, followed by Synthetix (SNX, -14.42%), Waves (WAVES, -13.3%), UNUS SED LEO (LEO, -9.79%), and Revain (REV, -7.02%). Last time, the worst performer was 3X Long OKB Token (OKBBULL, -98.28%) and SHIBA INU (SHIB).
The week was also not friendly to Bitcoin, the world’s biggest cryptocurrency by market cap. In the past 7 days, the price of Bitcoin touched a low of $31,227.34 and a high of $40,782.08. The price may seem good to many since it is still trading above other rival coins such as Ethereum that is currently trading at $2,436 (with a 7d gain of +20.28%.
BTC is changing hands at $35,770 which is a big loss to several investors who predicted further growth after the coin registered a new all-time high of $64,000 in April. Unfortunately, the rally has ended with Bitcoin declining by over 44.65%, and it's hard to predict its next price movement.
However, at the beginning of the week, BTC had a market cap of $602.681 billion but at press the MC is standing at $674.314 billion, indicating that the coin is experiencing a positive trajectory.
At the beginning of last week, Bitcoin had a trading volume of $67,359,584,098, but as of now, its volume is $45,199,631,557, indicating a heavy fall of about 33% in just 7 days. In the last 24 hours, its volume has plummeted by over 11.72%. This shows how high volatile cryptocurrencies are.
Among the top 10 cryptocurrencies by MC, the best performer is Uniswap (UNI) that has gained over 44.5% in the past 7 days, followed by Binance Coin (28.96%), Cardano (ADA, +28.81%), Ethereum (ETH, 17.43%) and Ripple (XRP, 10%). Last time it was only Tether and USD Coin that had survived the 7d bearish trend.
Also, ICP and Dogecoin (DOGE, -3.57%), USD Coin (USDC, -0.07%) and Tether (USDT, -0.02%) are the worst performers among the top 10 coins.