The month of May proved to be historic for both Bitcoin and Ethereum, with the former adding some $1,000 to its price and the latter tripling in value. Both currencies showed gains in recent sessions, while new cryptocurrencies continue to join this growing market. Will the bull run continue in June?
Ethereum gains more than $110 in a week
After dropping to levels of just over $120 last Saturday, the cryptocurrency logged five straight winning sessions, peaking yesterday at just over $237. Another milestone was seen earlier this week, when the overall daily trading volume for Ethereum was higher than that of Bitcoin’s for the first time ever. Ethereum’s performance record for May is one for the books, with the currency more than tripling in value over the course of the month.
Bitcoin rises above $2,300
The world’s largest cryptocurrency showed gains in four out of the last five days, crossing the $2,300 mark yesterday. While still not reaching its all-time high of over $2,800 seen a week ago, Bitcoin logged overall gains of almost $1,000 in May. Another important milestone was reached this month, as the cryptocurrency crossed the $1 billion mark in 24-hour trading volume for the first time.
New cryptocurrency BAT sells out in 30 seconds
Founders of the Brave web browser yesterday held an Initial Coin Offering (ICO) for its new Ethereum blockchain-based currency, BAT (Basic Attention Token). The offering was a great success with some $35 million worth of BAT being scooped up by investors within 30 seconds. The largest bid was made by an investor who bought $4.7 million worth of the new currency, and a total of 130 buyers are now in possession of the new coin.
All trading involves risk. Only risk capital you’re prepared to lose. The information above is not investment advice