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Cryptocurrency Market Analysis: Top 5 Gainers of May 2021




Jun 02, 2021 at 13:50 // News

Who is the biggest gainer of May?

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%.

CoinIdol, a world blockchain news outlet, created an overview of the top 5 cryptocurrency gainers among the top 100 coins that performed best based on the data by CoinMarketCap.


Some coins such as YFIDOWN have gained up to +320055%, Dopple Finance (DOP) increased by 1663%, Starbase (STAR) gained by +1088%, Kishu Inu (KISHU) soared by 815% and ALLY (ALY) gained by 764%.


The best performer among the top 10 tokens was Cardano, which gained by over 32%, followed by Dogecoin (DOGE) with 1.42%, Tether (USDT, +0.03%), and USD Coin (USDC, +0.003%).


SHIBA INU (SHIB), a crypto sitting in Rank #31, was the best performer in the past 30 days, and it managed to gain by about +412.76%. At the beginning of May, its price was $0.00000203. The coin closed the month at $0.00000928. Its 24 hour price is standing at about $0.000009038 (+4.33%), with a market cap (MC) of $3,575,884,140 (+4.28%) and 24h volume of $675,961,465 (-35.41%). 


Even though the trading volume for SHIB is falling, it is still bigger than that of its top rivals including Maker (MKR, volume of $173.97M), Neo (NEO, vol of $460.69M), Dai (DAI, $363.53M), Monero (XMR, $273.7M), Aave (AAVE, $520.21M), Filecoin (FIL, $599.17M), Wrapped Bitcoin (WBTC, $128.36M), THETA (THETA, $478.36M), Solana (SOL, $353.78M), Internet Computer (ICP, $142.41M), and Uniswap (UNI, $650.23M).

The MC for SHIBA INU needs to just double if it wants to surpass Wrapped Bitcoin that is currently occupying Rank #22.

SHIB’s 30d low and high was $0.0000014 and $0.0000388 (the coin has plummeted by over 76.7% since it traded at this price about 22 days ago), respectively, and it’s now eying to touch above $0.00004. 

One of the reasons why SHIB is performing well in the market is that billionaires including Vitalik Buterin and celebrities are promoting and investing in it. For instance, the American rapper Meek Mill aka Robert Rihmeek Williams posted on Twitter that he is planning to buy Shiba Inu, a main competitor of Dogecoin.


Polygon (MATIC), a cryptocurrency occupying Rank #15 by market cap, managed to skyrocket by over 110.49% in the past 30 days. The price of MATIC opened the month at $0.82 (at a market cap of $4.082B and volume of $966.7M) and closed it at $1.88 (with a market cap of $11.779B and volume of $3.157B).

At press time, Polygon is trading in red at about $1.82 (-1.21%), with a market capitalization of $11.346B and 24h volume of $1.843B.


Polygon’s 30d low and high price was $0.6908 and $2.68, respectively. The all-time high (ATH) of $2.68 was recorded about 15 days ago, meaning that May was a bullish trading period for MATIC. However, since that time when MATIC hit a new ATH, its price has plummeted by over 31%.

The market cap for Polygon has to gain by $4.21B if it wants to be among the top 10 tokens by market cap. That implies that it would have displaced Uniswap that currently has a market cap of $15.56B.


In the past 30 days, Telcoin (TEL), a token in Rank #60 by MC, gained by over 107.69% making it to be the third-best performer among the top 100 coins globally. TEL opened May with the price of $0.009573 (with a market cap of $570M and volume of $44.069M) and closed it with $0.03 (with a market cap of $1.71B and vol of $50.569M).


At press time, Telcoin is changing hands at around $0.0321 (+3.2%), with a market cap of $1.668B (+3.55%) and 24h volume of $41M (-18.7%). In May, Telcoin recorded a low price of $0.0123 and an all-time high of $0.0649 (hit 22 days ago).

Ethereum Classic

In the past 30 days, Ethereum Classic (ETC), a cryptocurrency in Rank #20 by market capitalisation, surged by over 38.96% making it to be the fourth-best performer among the top 100 digital currencies worldwide. ETC opened the month of May with the price of $36.33 (with a market cap of $5.188B and volume of $4.173B) and closed it with $70.22 (with a market cap of $8.167B and vol of $3.476B).


At the time of writing, ETC/USD price is sitting at $68.44 (2.41%), with a market cap of $7.96B (+2.51%) and volume of $2.772 billion (-19.08%). The price of Ethereum Classic hit a 30d low and a high of $40.24 and $176.16 (and its ATH that was recorded on May 6, this year). ETC is now aiming at trading above $180.


In May, Cardano (ADA), a digital currency in Rank #5 by market cap, skyrocketed by about 31.99% making it to be the 5th best performer among the top 100 cryptos globally. ADA opened May with the price of $1.35 (with a market cap of $43.228B and 24h volume of $2.03B) and closed it with $1.74 (with a market cap of $55.678B and vol of $4.491B).


Currently, Cardano is changing hands at about $1.78 with a 24h gain of 5.13%, a market cap of about $56,813,487,204 (+4.9%). Nevertheless, its volume is in red after declining by about 10.77% in the last 24 hours to stand at $3,834,161,938.

Cardano’s 30d low and high price was $1.03 and $2.46, respectively – and this turned out to be its new ATH price, and was recorded about 17 days ago.



Dogecoin: Investing ‘in currency with dog’ makes sense to this section?

Republished by Plato



The adage, “You work hard for your money and your money should work hard for you,” will, perhaps, never age with time. Investing is important, if not critical, to make your money work for you. Until a few years back, the masses mostly relied only on stocks and physical assets like gold and property as investments. In fact, for the older generations, the traditional array of assets is a go-to option on any given day. 

Nevertheless, with the emergence of digital assets like cryptocurrencies, market participants now have a wide range of assets to choose from. As a matter of fact, the newer assets resonate well with the newer generations. Even during market adversities, the younger generations express their enthusiasm and keep claiming that they’re “in for the tech.”

A meme that pointed out the different assets chosen by people from different generations was doing the rounds on social media lately. It, however, managed to garner traction majorly because the self-proclaimed ‘DogeFather’ reacted to its irony, thus instilling the Dogecoin v. Real estate debate.

Interestingly, in May 2020, Elon Musk took social media to announce that he was giving up most of his possessions. What’s more, he explicitly stated that he would not own any house henceforth.

Reportedly, before the aforementioned Twitter announcement, Musk owned several luxury mansions in California that had a cumulative valuation of over $100 million. Musk’s reaction to the meme makes even more sense when the above dots are connected. Well, apart from traditional asset proponents, even people close to Musk were apparently “mad” at him for taking such a call. 

Source: Motely Fool

A recent study highlighted that Gen Z and millennial investors prefer using an amalgamation of both new and old investment strategies. Cryptocurrency, however, remained the second most likely asset to be held by Gen Z investors. Well, according to the age-wise stratification, Musk falls into the Gen X category, which is typically characterized to be “conservative” with their investment choices. 

Now even though Tesla’s ‘Techno-King’ doesn’t belong to the Gen-Z or millennial category, he has evidently been fond of cryptos, especially Dogecoin over the past few months. However, the meme-coin’s value recently plunged and the community opined that even Elon would not be able to save it.

Now, since real-estate is most likely out of Musk’s equation, the odds of Musk resurrecting the meme coin and taking it on ‘moon ride’ has increased. Riding on the back of Elon’s tweets, Dogecoin has managed to record a YTD return of +4112.69%.

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Recap – 73% Axie Infinity Livestream Viewers are from the Philippines





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“Play-to-earn” game Axie Infinity held a livestream this week, hosted by Andrew Campbell, the new program lead at Sky Mavis, the game’s development company. The Axie Infinity team answered questions fielded by the community. From server issues to V2, check out the stream below.

This writer live tweeted during the livestream and it’s worth detailing here what are the information shared during the event. But first, let’s check the metrics of the stream as shared by Andrew:

The result solidifies the Philippines as a key market for Axie Infinity. Though it should be noted that the most popular streaming channel in the country is Facebook Live and YouTube.

On Axie Infinity V2

Table of Contents.

Aleksander Larsen, COO of Sky Mavis and Jeff Zirlin, co-founder, shared a new image of Axies with upgraded body shapes:

Days ago, the Axie Infinity community celebrated the birth of Axie no. 1 million, but it was not without controversy because it was created using what some members of the community feels is a violation of the Terms of Service. Jeff said they will look more closely into the situation.

As for staking, Aleksander said it could be by Q3 2021.

On the Server Issues

The game was recently plugged with issues, Andrew asked a question submitted by a community member: “Why don’t you just plug in more servers since you have money?” Aleksander says the game grew from 38k to 200k users in no time. “Our engineers are working overnight to keep the lights running. Things are to get better.” Andrew added the fact that while there are a lot of developers, the talent pool for those who knows blockchain (specifically, solidity) is actually smaller, while Jeff said the server issue is their no. 1 priority right now.

Sky Mavis tweeted the day after the stream:

On Free-to-play

“What to do with useless Axies?” a community member asked. 

“No Axies are useless,” Aleksander immediately answered.

Jeff hinted of “crafting” as a new addition that can be done on the upcoming Land gameplay. “I think it’s going to be a huge catalyst for us,” he said, though he reconfirms that Battle V2 and Land gameplay being “fun” are the first things they would focus on. 

Speaking of V2, the topic “free-to-play” was touched upon. In the next version of Axie Infinity, there will be starter Axies that are “free-to-play,” so new players can start without purchasing Axies. The community therefore asked “Will free-to-play hurt SLP earnings right now?” Here’s Jeff’s response:

“Free-to-play allows you to get immersed and be in love with the Axie universe before you make economic decisions. I think demand for real Axies will increase when more people are in love with Axies.”

Jeff Zirlin, Sky Mavis

Putting Axie to Every Person in the World

The above was Aleksander’s quote. One of Sky Mavis’ goals is to put the game in the App Store and the PlayStore.

Guild and Scholarships

Aleksander said they are working on Guild Features in-game itself. This would mean eventually doing what is being done in scholarships could be done on the game itself. (He did say this is very far from the pipeline.)

Which led Andrew to ask, “What do you personally feel about Axie scholarships?” Jeff talked about early 2020 and the people who first tried it out. “It was when SLP hit 2 cents when people see the scholarship thing as legitimate. It has definitely helped in our growth.”

Aleksander admitted they don’t have any direct say in scholarships, and they don’t endorse them. “But we have common sense things. For example, managers should not abuse their players. If you do, then that’s our concern.” He did say the scholarships are a testament to what’s possible in the metaverse and what you can do inside. He cited Yield Guild Games as one of the largest, if not the biggest one who do scholarships at scale.

On Axie Lore

Jeff talked about ideas re: Axie Lore, Axie Movie, Manga, but ultimately their focus right now is to make Axie as fun as possible. Aleksander said they can think about it next year.

On Multi Accounting

“We will find you.” 

Jeff Zirlin, Sky Mavis

Andrew said as Axie scales, this will be a problem. Aleksander said they are looking into the data to ensure no real people who are not multi-accounting get affected. 

“One human being can only extract so much resources per day. You have to tell your friends to play.”

Aleksander also said players don’t get banned when they are in-game and suddenly maintenance kicked in. 

On Land Gameplay, SDK and API

Jeff said they want to make Land gameplay as fun as possible, such as farming or fighting for resources. “We want to provide utility and fun things to do rather than a blank slate where people will just walk around,” said. 

On SDK, they said they are excited about using Axie assets where people can do an Axie tower defense and other games. 

There’s clamor to make the Axie API more open. “As we move towards a more stable space, we can enable the API a little bit more, a WIP,” Aleksander said Seuchenhun of Axie Zone (also a recent Sky Mavis hire) will own this product.

Pains as Axie Grows

Lately, there were reports of stuck Axies and other bugs. Aleksander said because the game is still in alpha, everything being experienced are the pains of growing. “As we grow more, there might be more bugs.”

At the end of the stream, Aleksander encouraged players to give feedback and constructive criticism, what they can do to improve.

This article is published on BitPinas: Recap – 73% Axie Infinity Livestream Viewers are from the Philippines

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‘It might get ugly with’ Bitcoin…BUT

Republished by Plato



Prices are a reflection of investor sentiment, they say. In a span of a little over two months, Bitcoin’s price has promptly halved, and now, after China’s recent crackdown on mining, a section of the market participants believe that BCT is a less attractive prospect. 

Talking on similar lines in a recent Kitco News interview, Saifedean Ammous, the author of ‘The Bitcoin Standard’ said that the current hiccup would not have a long-term impact on crypto’s price. He said,  

“You can’t really ban Bitcoin, you can ban yourself from Bitcoin, but Bitcoin continues to operate and I think even if it’s going to be a 50%, 60%, 70%, 80% crash, ultimately, the ability to bounce back is what’s going to win the day for Bitcoin.”

Nevertheless, he concurred that the Chinese crackdown was a serious issue because a major proportion of the mining operations have been halted. Ammous further stated that BTC’s price would most likely drop further as and when more machines go offline. Miners, indeed, are facing one of their worst nightmares at this stage. What’s more, the author also expects a panic sell by the Chinese hodlers in the coming days. 

As a matter of fact, miners are large hodlers themselves, and now, according to Ammous, “you’re forcing them to sell large quantities.” Nevertheless, at the time of writing, Glassnode’s data underlined that miners’ outflow volume had touched its lowest point in 6 months, which ultimately implies that miners are still hodling their BTC. However, the sell-off that Ammous pointed out might likely take place in the foreseeable future.

Source: Glassnode

The author further opined that the clampdown would only impact traditional assets like gold. He stated that, unlike gold, BTC’s prospects aren’t influenced by political and banking systems. After witnessing a minor 0.32% price drop in the past 24-hours, Bitcoin was trading at $34,000.69 at press time.

Additionally, it should be noted that BTC’s hash rate has been falling over the past few days. Nevertheless, Ammous was positive that it would soon recover. With respective to Bitcoin’s inevitable comeback, the author concluded, 

“It might get ugly with BTC, but it thrives on adversity. If you do try and knock it down, if you do try and hurt it, you’re just setting up a great comeback story for BTC. This has been the case for over the many years.”

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