Unlike in the past weeks, the cryptocurrency market expressed a light drop in the last days, but it is already recovering. Bitcoin, the main cryptocurrency on the market, started the week with a value of 9,593 dollars and its current price is 8567 dollars per coin, which is almost one thousand dollars less than the starting price. The lowest price was 8223 dollars.
The price of Ethereum, on the other hand, started at 781 dollars and dropped to 694 dollars currently, with the lowest price being 645 dollars. Paradoxically, this drop occurred between May 10th and 12th, when the altcoins on this list showed a large rise of the prices. Nevertheless, due to the general drop, the growth percentages are not that high as it was the case in the previous weeks.
The last cryptocurrency on the list is called Augur, a platform created for the predictive markets based on the Ethereum blockchain network. Last week, the price of Augur went up by 18%, going from 43.88 dollars per coin up to 52.13 dollars. The highest price of 81.95 dollars Augur achieved on May 11th. The market capitalization of this cryptocurrency is around 573 million dollars, almost 100 million dollars more than the starting price. On May 11th, however, the market capitalization reach 901.4 million dollars and the reason for this growth was, as with the majority of the cryptocurrencies on this list, the addition of Augur by Zebpay and Binance, two cryptocurrency exchange platforms.
Zilliqa is a blockchain platform whose goal is to implement various scalability proposals into its blockchain network in order to offer a platform that could support high transactions flows. The main protocol is shading and this protocol should be implemented soon into the Ethereum blockchain network, according to its founder, Vitalik Buterin.
During the last week, the price of Zilliqa went from 0.145 dollars per coin to 0.180 dollars, which represents a rise of 23%. On May 9th, this cryptocurrency reached its highest price when the price went up to 0.231 dollars per coin. The market capitalization of Zilliqa is over one billion dollars, currently at 1.3 billion dollars. The highest market capitalization was 1.6 billion dollars.
This growth happened due to the inclusion of Zilliqa by Upbit, OKEx and Bithum, some of the most important cryptocurrency exchanges in the ecosystem that manage an important part f the entire transaction flow on the cryptocurrency market.
Dentacoin is a platform that is trying to apply the blockchain technology to the odontologic industry. During the last week, the value of this cryptocurrency rose by 26%, with its price going from 0.0007 dollars to 0.0009 dollars per coin. The maximum value was on May 10th and it was 0.0013 dollars. Dentacoin has a market capitalization of 308.5 million dollars, while the starting capitalization was around 246 million dollars. The maximum market capitalization was 440.3 million dollars.
Despite not being added by any cryptocurrency exchange, OKEx launched a competition in the crypto community to decide which cryptocurrency they should add next. It is possible that the investors predicted the rise of the price of Dentacoin if it was listed on OKEx and decided to buy this token, which led to the rise of its price.
Moreover, NASDAQ (National Association of Securities Dealers Automated Quotations), a stock exchange from the United States of America, published an article on its website about Dentacoin and this could also be one of the reasons why it attracted new investors and its price increased.
Bytecoin is a cryptocurrency that offers anonymous and private transactions by using an algorithm called CryptoNote, the algorithm also used by Monero, a cryptocurrency famous for its privacy and anonymity.
During the last week, the price of Bytecoin increased by 26%, with its price going from 0.007 dollars to 0.009 dollars. The market capitalization went from 1.3 to 1.6 billion dollars. This cryptocurrency was rising rapidly around May 9th when its price reached 0.018 dollars and the market capitalization was 3.4 billion dollars.
Just like the other cryptocurrencies on the list, the reason for the rise of the price of Bytecoin was the listing of this cryptocurrency on Binance, one of the largest cryptocurrency exchanges in the world. However, Bytecoin’s platform presented some problems that affected its performance on the cryptocurrency exchanges.
Huobi Pro experienced the highest rise during the last week. This token was launched by Huobi, a famous cryptocurrency exchange and during the last week its price rose by 33%. The price of Huobi Pro went from 2.71 dollars per coin to 3.60 dollars and its highest price of 4.11 dollars was reached on May 10th. The market capitalization of Huobi Pro rose from 135.5 million dollars to 205.6 million dollars, but then descended to around 180 million dollars, its current value.
The reason for the growth of Huobi Pro is that every time the cryptocurrency adds a currency to its list, the owners of this token receive reward coins. This is why many investors could have acquired Huobi Pro in order to obtain the airdrops of the listed cryptocurrencies.
After several weeks of stability, the cryptocurrency market is again dropping, even though there are no apparent reason for this behaviour. If we take the volatility of the cryptocurrency market into account, it is possible that the market will rise again in the next days, but nothing is certain.