Who said that Altcoins follow Bitcoin’s movements slavishly? If it is true that the first two cryptocurrencies behind BTC, Ethereum and Binance Coin, ended up losing share in the long wave of the Musk earthquake and the Chinese regulatory tightening, it is also true that other currencies managed to avoid bearish trend generalized.
These include Cardano, a crypto managed by the decentralized platform of the same name and created in 2015 by a pool of mathematicians, engineers and cryptography experts, including one of the five programmers who gave life to the Ethereum project, Charles Hoskison. The details.
Cardano, + 24% in the black month of Bitcoin
Looking at the entire month of May, Cardano has gone from a quotation of 1.35 dollars to one of 1.68 dollars, scoring a +24% on a monthly basis. To make a comparison, in the same period Bitcoin and Binance Coin lost the respectively 35,4% and the 42,8%, while Ethereum and Dogecoin limited their losses, -7,8% e -17,9%, albeit trading down sharply from mid-month highs.
Even Cardano, in hindsight, has suffered the double blow from Musk-China, passing within a week from the record peak of $ 2.41 to the monthly minimums of $ 1.15, -52,2%, however, managing to recover some of the ground lost with a jump of 46% in the last week of the month, while the other cryptocurrencies continued to swing dangerously downwards.
Thanks to the performance in May, Cardano also put the arrow on Dogecoin in the ranking of the Altcoins with the highest market capitalization, reaching a share 58 billion dollars. Enough to enter the top-3 crypto alternatives to Bitcoin, led by Ethereum a 325 billion e and Binance Coin a 64 billion.
Furthermore, in the first days of June, Cardano continued his ascent, managing with the exchanges of the last hours to return to the area $ 1.80, +8,3% from the end of May.