Despite May ending with the cryptocurrency market in red numbers, we can look back at very bullish price action in both Bitcoin and altcoins in the last month. This is the top 10 of best performing altcoins in the top 100 in the month May.
And with Bitcoin as number 11 on the list, gaining 57.39% in May, this at the same time is an overview of the 10 projects that managed to outperform Bitcoin this month.
10. IOTA (IOT) – 58%
We start the list with IOTA, that gained almost 60% in May in two waves, one starting on May 12 and one starting on May 26. The latest rise of IOTA was the result of an announcement about Coordicide, a decentralized mechanism securing the IOTA Network, that will replace the old Coordinator.
IOTA/USD Chart provided by Tradingview
9. Ethereum (ETH) – 62.82%
Ethereum has slightly outperformed Bitcoin in May, gaining 5% more than the number one in the cryptocurrency market. Year-to-date however, Bitcoin is still on top, gaining 120% while Ethereum has made 89% gains.
ETH/USD Chart provided by Tradingview
8. EOS (EOS) – 65.52%
EOS has seen a lot of price action in the last week, due to an announcement that will be made on June 1. According to Founder Daniel Larimer, it will be ‘the biggest news since the EOSIO announcement’. On May 30, Coinbase announced that EOS is now available on Coinbase.com and the apps. EOS is up 66% in May.
EOS/USD Chart provided by Tradingview
7. NEM (XEM) – 67.25%
NEM has experienced some difficult months, but is back at it in May with the launch of Catapult, the NEM blockchain 2.0, and the Zeux integration, which allows people to spend XEM through Samsung Pay and Apple Pay. As a result, NEM is up 67% this month.
XEM/USDT Chart provided by Tradingview
6. Bitcoin Cash (BCH) – 67.49%
Bitcoin Cash is a steady gainer all year already surging 164% since the start of the year and that bullish performance is no different in may, with BCH jumping 67%. This makes it the sixth best performer of the month.
BCH/USD Chart provided by Tradingview
5. Holo (HOT) – 72.77%
Holochain has seen an incredible month, winning the award Disrupter of the Year 2019 on the Malta Blockchain Awards, and seeing its Holo/HOT token gaining over 70%.
HOT/USD Chart provided by Tradingview
4. Bitcoin Gold (BTG) – 73.72%
Bitcoin Gold is the fourth biggest gainer of the month, gaining 73% in May entering the top 25 on Coinmarketcap. It’s one of the three Bitcoin forks that are thriving and outperforming Bitcoin this month.
BTG/USD Chart provided by Tradingview
3. Chainlink (LINK) – 110.68%
Chainlink has seen a growth of over 100% following the news that it will release its Ethereum mainnet on May 30. The project made the deadline, and announced on Thursday that Chainlink’s decentralized oracles are now live on the Ethereum mainnet.
We’re thrilled to announce that Chainlink’s decentralized oracles are live on Ethereum mainnet; https://t.co/ydZxZG8t89. Thank you to our community, node operators, developers, and all of our supporters for helping us get to this important point, thank you.
— Chainlink – Official Channel (@chainlink) May 30, 2019
LINK/BTC Chart provided by Tradingview
2. BitTorrent (BTT) – 132.04%
BitTorrent was one of the best performers in May, gaining an astonishing 130% following a series of announcements. The biggest was the launch of the BitTorrent Files System on May 30 and the announcement that the BTFS will integrate BTT in late 2019. Next to that, in Q3 all TRON dApps as well as BitTorrent network transactions will be supported by the mainnet that will be launched in the next quarter.
BTT/USD Chart provided by Tradingview
1. Bitcoin SV (BSV) – 230%
Bitcoin SV has seen the most turbulant performance in the last month. BSV’s run started following fake news that a US Copyright Office had granted the copyright of the Bitcoin whitepaper and code to Craig Wright, who claims to be Satoshi Nakaomoto but has been nicknamed Faketoshi by part of the crypto community.
The US Copyright Office denied the claims of Wright, and stated that everyone can start a procedure to file for the copyright, but that nothing has been granted. This week, BSV surged again following fake news that was spread in China. Several crypto media in China shared the news that Wright had moved 50K BTC from Satoshi’s wallet to Binance, ‘confirming he is the real Satoshi. Binance will now relist BSV and make an official apology.’
This again turned out to be fake news, but tricked a lot if investors into buying BSV. Surprisingly BSV managed to hold the levels after the dubious pumps, and therefore saw 230% gains in May.
EOS SUFFERED A HUGE DAPP USER DROP OUT, LATEST REPORT FINDS
- EOS Daily Active Users Haven Fallen 80%
- Users Double But Retention Rate Poor
- Key dApp Growth Areas
The latest annual dApp Market Report by Dapp.com says that the number of daily decentralized application (dApp) users on EOS has crashed 80% since last November.
EOS DAILY ACTIVE USERS HAVEN FALLEN 80%
Prior to November, EOS was the blockchain with the largest number of daily active users. There was an average of nearly 80,000 (79,749) users using dapps on EOS every day. Ever since EIDOS has launched, EOS’s DAU has dropped dramatically to an average of 15,363, which is an 80% decrease.
This is made worse by the fact that daily active EOS dApps have also fallen by as much as 30% since November too. Overall, this demise is likely due to the fact that a number of EOS’ leading dApps, including EOSbet and Karma, left the blockchain to join Wax’s platform instead.
However, what’s interesting is that, in terms of transaction value, EOS generated a volume of almost $5
EOS also had the highest proportion of active dApps in 2019 despite the crash, at 479 out of 493, or 97%. Ethereum had the lowest proportion of active dApps at just 62%, although some of this can be accounted for by early dApps which have fallen out of usage.
USERS DOUBLE BUT RETENTION RATE POOR
According to the report, the number of active dApp users in 2019 is 3.11 million, compared to 1.48 million in 2018. Whilst this is over double the total number of users, 2.77 million of these were new users in 2019. Only 348,000 currently active users were also active in 2018.
This gives a not particularly impressive retention rate of 23.5%, or just 11% of current users who have been around since 2018.
However, the dApp landscape of today is much different from that of 2018. With an increase in active dApps across the board, one assumes that today’s users have several more compelling reasons to stick around.
KEY DAPP GROWTH AREAS
One of these reasons is the growth in Decentralized Finance (DeFi) dApps. Excluding decentralized exchanges, the number of DeFi dApp users has grown by 610%, and the transaction volume has increased by 251%.
Other areas in which dApps user and volume growth has increased the most are gambling, high-risk dApps, and gaming products.
Daily Tech Analysis for EOS -18/01/2020
EOS gained 1.52% on Friday. Following on from a 1.94% rise on Thursday, EOS ended the day at $3.8961.
A bullish start to the day saw EOS rise to a late morning high $4.0500 before hitting reverse.
Coming up against the first major resistance level at $4.0163, EOS slid to an early afternoon intraday low $3.7334.
Steering clear of the first major support level at $3.5894, EOS broke back through the first major resistance level to a late intraday high $4.0623.
A second pullback to $3.7 levels and into the red was short-lived. EOS found support late in the day to close out in the green.
At the time of writing, EOS was up by 1.1% to $3.9390. A mixed start to the day saw EOS rise from an early
EOS left the major support and resistance levels untested early on.
For the day ahead
EOS would need to move back through to the morning high to $4.00 levels to support a run at the first major resistance level at $4.0611.
Support from the broader market would be needed, however, for EOS to breakout back through to $4.00 levels.
Barring a broad-based crypto rally, Friday’s high $4.0623 and first major resistance level would likely cap any upside.
Failure to move back through the morning high to $4.00 levels could see EOS hit reverse.
A fall back through to sub-$3.90 levels would bring the first major support level at $3.7322 into play before any recovery.
Barring an extended sell-off, however, EOS should steer clear of the second major support level at $3.5684.
Looking at the Technical Indicators
Major Support Level: $3.7322
Major Resistance Level: $4.0611
23.6% FIB Retracement Level: $6.62
38% FIB Retracement Level: $9.76
62% FIB Retracement Level: $14.82
EOS price analysis: EOS/USD creeps above the 20-day Bollinger Band
- The bulls are aiming for the $3.50 psychological level.
- The Elliott Oscillator shows sustained bullish sentiment.
EOS/USD daily chart
Following a bearish Monday, EOS/USD bulls jumped back into the driver’s seat and took the price up from $3.10 to $3.29. EOS/USD is trending in an upwards channel formation and has crept above the 20-day Bollinger Band, indicating that the asset is overpriced. This, along with the fact that the Relative Strength Index (RSI) has crept into the overbought zone, both hint that bearish correction may be round the corner. Both the Moving Average Convergence/Divergence (MACD) and Elliott Oscillator indicate sustained bullish sentiment.