The USD value has been a long-standing favorite metric to track the health of any given cryptocurrency. It’s number one on the list for a reason: investors want to know the monetary value of their holdings in fiat. So, how did those holdings perform this month?
Bitcoin shows sustained growth with an added 35.64% in value, Bitcoin Cash, its sibling, has grown at a comparable rate of 35.89%. Bitcoin itself is, at this point in time, trading for $7,738, an impressive bounce-back after months of stagnated valuations from the market. Bitcoin Cash is currently showing a price of $388, completing its fifth month of steady growth after a nearly $100 valuation at the start of 2019.
The top grower this month is Litecoin, with a 40.96% positive dynamic in valuation and a $104,72 valuation. Trailing behind it are Binance Coin, the exchange platform’s crypto coin, with 40.18% growth, and Ethereum, one of the most hyped coins since BTC, has gained 39.72% in value.
Among the cryptocurrencies that lost the most value this month, Byteball Bytes takes the lead with a negative 22.31% growth and a $32,23 valuation.
A Surprise Project Takes the Lead in a Landslide
Another favorite way of determining the health of a coin is its transaction volume. This helps determine how well a coin is traded on exchanges, and, in turn, determines the value of the asset to a prospective investor.
Po.et is a small project launched in May 2017 that is determined to change the way content is shared and monetized on the web. Its coin that goes by the same name has shown a surprise 2394.64% in growth over the past month and takes the top spot in this month’s ranking. The second spot goes to Zilliqa, with a 224.6% growth, and Holo takes the third after growing 94.4% in terms of transaction volume.
The coin that sustained the highest negative growth is Dent, with a 16.39% reduction on last month’s numbers.
COR’s report includes a separate chapter dedicated to Refined Currency Transaction Volume, which shows figures exclusively on coin to USD and coin to USDT transactions. In this list, Holo takes the lead after growing 208.1% with XRP following in second place after gaining 66.34%. The rest of the coins highlighted in the report have shown sub-50% growth, making Holo’s growth all the more impressive.
Tripio is the lead among the three coins showing negative growth in the past month with a 16.03% decrease in transaction volume. Dent’s transaction volume has decreased by 10.7% and Zipper’s 1.13%.
Steady Growth in Transaction Volume to USD and USDT in All Surveyed Coins
Two chapters in COR’s report are dedicated to the volume of transactions of cryptocurrencies to USD. The first is Currency/USD Transaction Volume, which calculates coins’ growths on the market in terms of trading to USD. The second chapter is called Currency/USD Refined Transaction Volume, and its analysis includes USDT in the trades it indexes. These metrics allow investors to ascertain the health of a coin by the interest in purchases of it that have been indexed in the past month.
The top growers in this category are XRP and ZCash with 120.8% and 97.3% growth respectively. No coins highlighted in the report have shown a drop this month, marking a month of steady growth in transaction volume for the top cryptocurrencies.
When factoring in USDT trades, the top growers in this category are Litecoin, with 157.13% growth, and XRP, with a growth of 104.87%. Trailing just behind it in third place is Bitcoin Cash, which showed a growth of 104.65%. Again, no coins surveyed by COR have shown a negative growth in this category.
Predictably, the top traded coins in terms of value over the month are Bitcoin and Ethereum.
Market Cap of the Top Cryptos Shows Steady, Sustained Growth
Perhaps the most valuable metric of a cryptocurrency’s health is its market cap, which is calculated by multiplying the amount of the emitted coins by its value in USD. COR’s report bases the value on the average price in the past month across the exchanges it indexes.
All the top cryptocurrencies have shown sustained growth in the past month, with Litecoin taking the lead after growing its market cap by 49.13% to $6,900,772,771, the highest number it has been after reaching a historic high of $9 billion in February 2018.
Bitcoin showed more modest growth of 36.74%, continuing the trend since the beginning of the year. Its market capitalization has now reached $138,800,725,479.
Ethereum, the coin with the second-largest market cap among cryptocurrencies, has also grown by an impressive 44.84% to reach $26,540,057,65.
XRP is third on the list of the largest coins, and it’s growth this month to a $17,720,913,431 market cap marks a 38.44% increase over last month’s numbers.
All in all, the crypto market in June shows steady growth of the top coins with some surprising jumps from lesser-known players.