MAY HIGHLIGHTS: TOP 4 CRYPTOCURRENCIES TO WATCH OUT IN JUNE 2022

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Apparently Last month ended up being a bearish month, in the Cryptocurrency space as a whole. The month of may will definitely be recognized by the Cryptocurrency community has the Market was not showing any positive upward trend, this however created a blurr shadow over the future of the market and the crypto investors confidence.
   However Last month May 2022, Bitcoin traded as low as $26,350.49 which was on the 12th day of the month, This indicated a new all time low for the assets in 2022. At the beginning of the month it’s traded at $37,714.88 and ended the month at $31,792.31, which subjected to 15.70% loss. Bitcoin traded at the level of $39,902.95 at the beginning of the month, Apparently in the last two weeks of the month, it however showed a decline in the market whichsent Bitcoin below $30,000 zone.

The Cryptocurrency Market Capitalization, Indicated a decrease by 24.34% for the month of May, From $1.73 trillion at the beginning of the month to end in $1.31 trillion. With great fear that Cryptocurrency will be loosing it trillion dollar position due to the decline of Cryptocurrency Market Capitalization which traded as low as $1.15 trillion.
The Altcoin Market went through the same bearish market, Which loses 28.91% in the month of May. From the total of $988 billion to present stand at $702 billion at the end of the month of May 2022. Throughout the month of May 2022 Altcoin Market traded a all time low at $621 billion.

MAY HIGHLIGHTS

The Month of May Came with different news, as approximately $1.6 billion was stolen from DeFi platform, which greatly overtook the amount stolen in 2020 and 2021 if it were to be combined. Over $600 million worth of cryptocurrency, was stolen by hackers from the World’s-Largest Play-to-Earn {P2E} platform this was the due to the March figure and was a result of the Ronin Bridge.
   In the month of May, Binance being the world’s largest cryptocurrency exchange in the world was given full approval from French regulators to fully operates it’s exchange in French. Being the largest cryptocurrency exchange in the world, It handles spot trading volume of $18 billion and over $60 billion in derivatives on a daily basis according to CoinMarketCap.
    The major shocking News in May, Was the fall of Luna {Terra Blockchain} The Crap out saw more than $60 milion in market capitalization lost from both Luna and UST. This was a result of the fact that Bitcoin backed programmable stable coin lost its peg to the United States Dollar this however had a great effect on the market, resulting to massive selloff we saw in May that almost saw the Cryptocurrency Market loss in its trillion dollar position.

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With the present bearish trend seen in the market, Below are the  top 4 cryptocurrencies investors should watch out for in June 2022

TOP 4 CRYPTOCURRENCIES INVESTORS SHOULD WATCH OUT IN JUNE 2022.

1. BITCOIN’S BTC’S

Investors have taken opportunity to invest more on Bitcoin, this was traced back to it’s occurrence in early February this year, and it seems to play itself again in May, This was actually discovered by the on-chain data from Glassnode.
Regarding Glassnode Analyst they claimed that the present buying of cryptocurrencies are basically been driven by holder’s( Those cryptocurrency traders that have previously bought cryptocurrencies and are holding their assets for long term). Meanwhile other investors in the crypto space are less interested in BTC’S sideways price trend. So it can be spotted out that most investors according to the Glassnode metric scores, see it has an opportunity to accumulate more Bitcoin assets.
Glassnode noted out the high scores of it’s metrics has at it’s bearish trend, Glassnode indicated that the recent accumulation has been currently driven by holder’s with less than 100BTC and holder’s with over 10,000 BTC.

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2. CARDANO ADA

Cardano is a open blockchain platform and decentralized, it can enable the peer-to-peer transactions within it’s internal Cryptocurrency. Cardano is popularly known as Ada, and was founded  by the co-founder Charles Hoskinson of Ethereum in 2015.
  Cardano has a common goal of being the top most environmentally sustainable blockchain platform. Cardano uses “Ouroboros” as a consensus mechanism in obtaining a correct proof of stake as rejected by the energy-high-proof of work system presently used by Ethereum and Bitcoin.
Cardano has really proven to be what it said it will be, as at the time writing this post it’s presently leads Ethereum blockchain in the aspect of trading volume in the last 48hrs. Cardano recorded over $14.24 billion worth of transactions unlike Ethereum which has $5.80 billion. Concurrently this has been it’s trend for the past three months as the blockchain offer less transactions fees unlike Bitcoin and Ethereum.
  Cardano has listed many DeFi platform on it blockchain system, The platform added Minswap, ADAX Pro, Muesliswap, WingRiders, to it’s ever-evolving ecosystem. Cardano has great project that are being built on it platform.
Cardano ended the month of May trading on $0.6253.

3. ETHEREUM ETH

Ethereum is the second only ranked after bitcoin according to market capitalization. It’s a decentralized blockchain, open source blockchain with the functionalities of different smart contract. Ether is certainly the native Cryptocurrency of the platform, it was founded in 2013 by vitalik Buterin.
Ethereum is undergoing an upgrading which is called Eth2 which is renowned to be called “The Merge” This new development which improve security, scalability, and sustainability of the ethereum network, this was disclosed by ethereum website.
The Merge is apparently the most anticipated event to take place in the entire history of the Ethereum Network, Because it will accomplish numerous goals.
Ethereum ended the month of May trading $1,942.33.

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4. TRON TRX

TRON {TRX} is a fully decentralized blockchain based operating system, Created by the Tron Foundation and was precisely launched in 2017.
Formerly TRX Token was formerly ERC-20 based token created on Ethereum, but later moved on to it’s official network.
TRON software allows various smart contract, different types of Blockchain system, and decentralized application.
TRON serves as a medium to create different DApps and Decentralized internet. The undeniable advantage of the blockchain is the ability of any person to create DApps on Tron Network and still be compensated with digital assets for their great effort.

TRON uses a transaction model which is similar to Bitcoin and UTXO to monitor and track the daily transaction activities of it’s users through a public ledger.
The price of TRX hasa great increase as due to the growth of stable coin, USDD. Despite the bearish in cryptocurrency market, The Market Cap of the stable coins seems to grow beyond imagination since it launched early this month.
TRON TRX ended the month of May trading on$0.08419.


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