The cryptocurrency sector will continue its pursuit of redemption in May. Many experts have predicted that some cryptocurrencies…
The cryptocurrency sector will continue its pursuit of redemption in May. Many experts have predicted that some cryptocurrencies will enjoy encouraging pumps this month.
The beginning of the year’s second quarter was good for several cryptocurrencies. The major positive for the industry remains the slight improvement in the market prices of several coins as its popularity battles with the recent attention given to Artificial Intelligence.
In the past 30 days, the prices of some cryptocurrencies have improved as predicted. Some of the cryptocurrencies we projected enjoyed over 40% gains in April. Ethereum reached $2,000, but Ripple dropped significantly. Unlike the predictions pushed forward for Ripple by analysts, the token dropped from $0.5343 to $0.4784 as of yesterday, April 30.
As ever, the landscape remains slippery. Careful analysis of the market is important to breaking even. This is a challenge, and over the years, trying to predict which cryptos are worthy of investment has been a herculean task for traders.
With this knowledge, we have assessed the present happenings in the market and predicted some of the most promising crypto assets that could enjoy gains in May.
Check them out below:
Bitcoin
Launched in 2009, BTC remains one of the top cryptocurrencies to put your money into in May. Although it started the year with a market price of $16,547.91 at the start of the year, BTC had a market price of $29,245.52 yesterday.
The live Bitcoin price today, according to CoinMarketCap, is $28,684.62, with a 24-hour trading volume of $18,210,193,663. In the last 24 hours, it has been down by 2.10%. The peer-to-peer online currency reached $30,000 in April, a milestone regarded as optimistic for crypto traders going further into the year.
BTC runs on a ledger that logs transactions distributed across thousands of computers. Last year, it lost 65% of its market value; at the beginning of this year, it was at a ridiculous low.
So far, it has rallied to almost $30,000, and with intensified momentum, crypto analysts predict that the digital asset could reach $40,000 in the coming months. The consistency in its price improvement makes it a crypto every crypto trader should watch out for and invest in.
Ethereum
Ethereum is an open-source, decentralized blockchain technology with its coin, Ether. ETH serves as a framework for the execution of decentralized smart contracts, as well as a platform for various other cryptocurrencies.
Ethereum is the second-largest blockchain in the world after Bitcoin. Its big-anticipated Merge update got launched in September last year, shifting from a proof-of-work protocol to a proof-of-stake protocol, substantially enhancing the network’s long-term scalability, security, and potency.
ETH reached $2000 in April. It has witnessed an upward trend since the year began. In January, ETH’s market price was $1,196.71 after the tumultuous gale that had the market weary in 2022. It crossed $1,500 in February and March, while it recorded its highest market price in April, reaching $2,103.95 on April 19 after the Shanghai upgrade.
Read also: Here is why Ethereum will experience a market increase this week
The market is still reacting to the benefits of the latest upgrade, and Ether may enjoy further gains in May, maybe as high as $2500 as some experts had previously predicted, but that is in the best case. Ethereum price at press time is $1,846.70, with a 24-hour trading volume of $8,578,720,264, as reported by CoinMarketCap.
BNB
BNB makes the list of one of the top three cryptocurrencies to consider as we roll into May. Launched in July 2017, BNB seeks to project a paradigm shift in global finance as an offshoot of the popular cryptocurrency exchange, Binance.
BNB’s market price in March struggled between $200 and $300. But in April, the cryptocurrency crossed $300, an impressive feat. Considering this achievement, it is set to garner more interest from investors over the next few weeks and could be one of the top cryptos to invest in as May rolls in.
Today, its market price is $335.51, with a 24-hour trading volume of $1,122,146,266. According to CoinMarketCap, it has increased by 4.01% in the last 24 hours. Currently ranked as the fourth most valuable crypto in the world by CoinMarketCap, this is a crypto that investors can consider in May.
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