June was a good month for the cryptocurrency market. The capitalization grew by more than 25% (27% to be specific), mainly because Bitcoin, Ethereum, Litecoin, and NEO performed very well. On the other hand, Ripple, Bitcoin Cash, EOS, Stellar (XLM) and IOTA didn’t have a great month.
The last month is the fifth month in which we’ve seen digital assets going up. It wasn’t as good as May, but the market’s capital went up by 27%, which is a new yearly height. Last month was the first time in which Bitcoin went up to five figures, which had not happened before in more than a year. Even after a little pullback, the market is above USD 315 billion, partly because of Bitcoin’s surge.
Last month, as always, Bitcoin was the leader in the market. Most of the growth during the month was for BTC, and it’s gained 64% in the last 18 months. When June began, BTC’s price was around USD 8.500,00. It went as high as USD 13.800,00.
Bitcoin went back to USD 11.150,00, so it lost a bit of value. It’s still the most important digital coin in the world. But maybe, according to experts, BTC is gone too high, so a correction in the market is needed as the new month starts. We’ll have to see.
The Winners
Ethereum, as usual, can’t compete with Bitcoin. It’s there, but it remains inferior. So ETH didn’t perform as well, but it still did well. It became more valuable by 10%. It went all the way to USD 267,00. It even reached USD 360,00, but it couldn’t face the resistance levels so it wen back down. Ethereum is still one of the most substantial projects in the blockchain world, but it remains undervalued compared to, ATH, for instance.
Then comes FOMO. That’s helped Litecoin a lot, which went from USD 112,00 to 127,00. It reached USD 145,00. The chances are that July will see LTC going even higher.
Bitcoin SV went up by 7%. So it gained a value beyond USD 200,00. BSV reached the world’s top 20 by market cap. And also Bitfinex LEO entered the top 20 last month as its price went up to USD 1.77.
Chainlink.
The coin in the market was Chainlink. It was the best performer by far. It went from USD 1,00 to USD 4,00, which is an increase in the price of 300%. Coinbase Pro’s listing helped to pump it up, as well as a Google Cloud partnership. In the end, Chainlink became the 16th’s digital asset by market cap during the last month.
NEO also did well, increasing 24% in value. It went from 13.74 to 17 as the month ended.
The Losers
It was a bad month for XRP. Which is strange because it’s one of the strongest coins in crypto. It went down by 7% (0,434 to 403). Ripple announced a new partnership with MoneyGram, but even that couldn’t prevent loses. During the months, altcoins did well because Bitcoin was leading the way.
Bitcoin Cash didn’t do that well either. It lost by 7.5%. It started at 439; then it went down to 406. It used to be fourth in the ranking, and it lost it to LTC. Something similar happened to EOS, which went down by 28% from USD 8,00 to USD 6,00 during the month.
Binance Coin ended the month more or less where it had started. It’s weird because BNB did well when every other project was going down.
Cardano’s ADA went down as well. It dropped 4%, which is not that much, but it’s still a loss. When the month ended, ADA was at USD 0,084.
Tron’s TRX also had losses. Well, not loses, but it was walking around in circles. It started the month at USD 0,033, and it ended again there. It was supposed to enter the top then and it couldn’t, so it remains outside, ranked 10th as we write this.
Then, there’s Stellar Lumens, which is IBM’s favorite. It lost 19% during the month while Monero was winning.
IOTA lost 18% from USD 0,49 to 0,40. Cosmos lost 5%. Ethereum Classic went down by 9%.
Here’s the short story: Bitcoin dominated the month (as usual), and it did better than every other cryptocurrency. Chainlink came close. Other winners were Ethereum, Litecoin, and N.EO. The losers were XRP, Bitcoin Cash, EOS, Stellar Lumens and IOTA
Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.
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