Bitcoin (BTC) has found new highs at the current value of $9,650. Ethereum (ETH) has broken loose from the $600 resistance level and is currently trading at $795. Ripple (XRP) is also showing some signs of recovery as Bitfinex announces XRP/USDT pairings. The coin is currently trading at $0.905 at the moment of writing this. Bitcoin Cash (BCH) is currently trading at $1,508 with EOS (EOS) still holding firm at its new position at the number 5 slot. EOS is currently trading at $17.03 after reaching recent highs of $22.79 and stunning the crypto-verse.
It is with this premise that it would be enjoyable to analyze these top 5 coins over the last one month of tumultuous yet exciting times for the cyrptocurrency market.
Looking at BTC, the King of Crypto was trading at $6,613 on April 6th this year. Current levels indicate that the coin has done an amazing 45% in gains in the last one month. One factor that has contributed to the rise in value of BTC was the announcement by an Islamic Scholar that BTC was within Sharia Law. This then opened the Crypto markets to a large Islamic community that now has a clear direction in terms of investing in cryptocurrencies.
In terms of the performance of ETH, the paltform that is the preferred choice for most ICOs, had its coin valued at $369 on April 6th thus year. ETH has since done 115% in gains since then. This has been an impressive rally by ETH considering the fact that there was a lot of FUD regarding the security vulnerabilities on the platform’s smart contracts. However, the Ethereum Foundation has since done its job to quell such fears and even gone a step ahead to announce that Sharding is coming to the Ethereum platform.
Ripple (XRP) seemed like it was headed for the much anticipated $1 last week. But it is 10 cents shy of that mark at the moment of writing this. One month ago, XRP was trading at $0.49. It has since done 83.7% in gains and seems to be headed to the $1 mark with the Binance announcement of XRP/USDT pairing effective immediately.
Bitcoin Cash (BCH) has been silently making gains especially since the announcement of a protocol upgrade scheduled for May 15th. The TestNet version is currently being tested. One month ago BCH was valued at $607. The coin has since done 148% in gains to current levels of $1,508.
EOS (EOS) is a token and project that has been shocking us on a daily basis. The token has edged out both Cardano (ADA) and Litecoin (LTC) to comfortably position itself at the number 5 spot on coinmarketcap.com and according to market capitalization. With the prospect of EOSIO 1.0 being launched in the first week of June, the token has a comfortable $4.893 Billion market cap lead over Cardano and $4.972 Billion over Litecoin. EOS was valued at $5.70 one month ago and has since done 198% in gains since then.
All the gains experienced by these coins and tokens confirm the theory that the cryptocurrency market is slowly gaining back its volume. The total market capitalization of the market is currently at $454.169 Billion and up 76.7% from one month ago.
The only direction for the market is up as we proceed into the second quarter of this year.