The fall of bitcoin to $ 30 thousand last month was reflected in the cost of alternative coins. After the collapse, quotes began to recover and altcoins have already partially returned their positions.
In the last two weeks, the crypto market has been recovering from the drop in quotations that occurred on May 19.
Then the cost of bitcoin for the first time since January fell to $ 30 thousand. After that, the quotes of alternative digital coins also fell. For example, Ethereum price dropped to $ 1,700, while Binance Coin dropped to $ 211.
Bitcoin
Back in April, bitcoin updated its maximum value at $ 64.3 thousand. IN mid-May, before the collapse of the crypto market, the main cryptocurrency was trading at $ 58 thousand.
As a result of the collapse of quotations, the price of bitcoin per day fell by 33%, to $ 30 thousand. From mid-May, the main cryptocurrency made several unsuccessful attempts to overcome the $ 40 thousand mark.
Bitcoin was last seen at this level on May 27. After that, its price fell to $ 34 thousand. On June 3, the digital coin is trading at $ 39 thousand.
In May, bitcoin fell by 35%, and its capitalization decreased by 38% ($ 733 billion), according to CoinGecko.
Ethereum
Before the crypto market collapsed in mid-May, Ethereum value rose and renewed all-time highs. Altcoin rose to $ 4.3 thousand on May 12 and then went down.
Already by May 23, it fell in price by 60%, to $ 1.8 thousand. After the collapse of the crypto market, Ethereum rose to $ 2.9 thousand during the day.
Already by May 27, the largest altcoin in terms of capitalization rose to $ 2.8 thousand.
IN the last days of May, the digital coin decreased to $ 2.3 thousand, but after that it switched to growth and as of June 3 is trading at $ 2.8 thousand. Now the capitalization altcoin is $ 330 billion.
Ethereum is a cryptocurrency and platform for building blockchain-based decentralized applications using smart contract technology.
Binance Coin
On May 10, Binance Coin hit its all-time high at $ 691. By May 23, the value of the digital coin dropped to $ 224.
Then the internal token of the crypto exchange Binance returned to growth and by the end of the month rose to $ 381 (70%). In the first days of this month, the altcoin continued to grow and as of June 3 is trading at $ 422.
Its capitalization reached $ 65.6 billion. The token managed to return to the third position in the list of the largest cryptocurrencies in terms of capitalization.
Binance Coin is a Binance crypto exchange token that is used to pay trading fees, as well as exchange offerings (IEOs) on the Binance Launchpad.
Cardano
On May 23, the value of Cardano dropped to $ 1.1. Over the past two weeks, Cardano has grown by 63% and took the fifth position in the list of the largest digital coins by capitalization.
As of June 3, the cryptocurrency is trading at $ 1.80, and its capitalization reaches $ 58.1 billion. In mid-May, the Cardano price renewed its all-time high and reached $ 2.45.
Cardano is a blockchain platform created by Input Output Hong Kong (IOHK) and Charles Hoskinson, former co-founder of BitShares, Ethereum and Ethereum Classic.
The system is focused on launching smart contracts, decentralized applications, sidechains, and multiparty computing. The internal cryptocurrency of Cardano is called ADA.
Dogecoin
At the end of May, the value of Dogecoin dropped to $ 0.27, but in early June, the altcoin began to grow after the announcement of the Coinbase crypto exchange, which announced the listing of the digital coin on its platform for professional investors, Coinbase Pro.
Tesla and SpaceX CEO Elon Musk also spoke about Dogecoin . In the comments on Coinbase’s announcement, he attached his July 18, 2020 post depicting Dogecoin’s intervention on the global financial system. The businessman signed the picture with the words: “This is inevitable.”
After that, Dogecoin rose to $ 0.43, and its capitalization reached $ 53 billion. As of June 3, altcoin ranks sixth in the ranking of the most capitalized cryptocurrencies.
Dogecoin is a cryptocurrency that was created as a joke by two programmers in 2013.
XRP
In April, the XRP token reached a local high of $ 1.92. By the end of May, the digital coin dropped in price to $ 0.68. After that, the altcoin returned to growth. As of June 3, the value of the XRP token has grown by 47% to $ 1.
Altcoin capitalization is at $ 47.7 billion, which makes it the seventh largest cryptocurrency in terms of capitalization.
A litigation is currently underway between Ripple and the US Securities and Exchange Commission (SEC). At the end of last year, the regulator accused Ripple of illegally selling securities under the guise of $ 1.3 billion tokens at the end of 2020.
In late May, the court rejected a petition from the US Securities and Exchange Commission (SEC) to access Ripple’s internal documents to consult with lawyers prior to issuing the XRP token.
Polkadot
On May 23, the cost of Polkadot dropped to $ 16.6. After that, the digital coin grew by 56% and increased its capitalization to $ 27.4 billion.
This allowed the altcoin to take the eighth place in the ranking of the most capitalized cryptocurrencies. As of June 3, the cost of Polkadot is $ 27.3. On May 15, the cryptocurrency reached an all-time high at $ 49.3.
Polkadot is an internal token of the project of the same name, which aims to create the decentralized Internet of the future (Web 3.0).
It is interoperable with other blockchains and allows the creation of smart contracts and new blockchains.
