Volume

A variety of cryptocurrencies have registered bullish gains in May 2021. In the past 30 days, the entire crypto market cap shrunk from $2.184 trillion to now $1.661 trillion, indicating a loss of over 31%.

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%.

The competition for a larger market share between Ripple (XRP) and Dogecoin (DOGE) seems not to end soon. Any slight drop in the price of one token makes another coin surpass the other.

Many cryptocurrencies including Bitcoin have registered a bearish trend during April, 2021, despite the overall bullish performance. For instance, the flagship crypto traded a 30d low of $47,159.49 on April 26.

The entire market has registered significant growth during April 2021. The total cryptocurrency market cap increased by 18%. CoinIdol, a world blockchain news outlet, created an overview of the best performers of April among the top 100 coins in the global market.

Tesla sold 10% of its Bitcoin holdings to demonstrate the liquidity of the cryptocurrency as a cash alternative. This has caused a short-term drop in the coin’s price. But despite BTC having partially recovered from the low, it can not linger above $55,000 and start an uptrend.

No trader is immune from risks and losses when trading cryptocurrencies. Investors have to put up not only with the high volatility of coins, but also with the various fees that crypto exchanges charge. If someone doesn’t correctly plan out their trades, then the cost of commissions can quickly absorb a significant portion of profits.

The digital currency sector in Nigeria has been growing rapidly. Despite numerous scams and a lack of clear regulations, cryptos attract Nigerians with high profit potential.

Ripple, a rather controversial cryptocurrency whose legitimacy was questioned in late 2020, has exceeded a $63 billion market cap for the first time since January 15, 2018, getting closer to overturning Binance Coin (BNB).