Crypto markets surged in April, Bitcoin, Bitcoin Cash and Binance Coin the winners, XRP, Stellar and Bitcoin SV the losers.
April was the third month in a row to see gains on cryptocurrency markets. Not only did they gain, they surged by a whopping 16.5 percent adding $24 billion to total market capitalization. April 2018 also saw solid gains but we all know what happened for the rest of the year.
Bitcoin was the driving force in April as it broke long term resistance and pumped past $5,000 to record a new 2019 high. Total market cap ended the month at $168 billion but peaked at a 2019 high of $186 billion on the 11th. Daily volumes have also been huge topping out at $88 billion during the initial surge.
Bitcoin nailed it in April starting out at $4,100, surging to a 2019 high of $5,650 before pulling back to end the month at $5,340. The 30 percent gain has resulted in BTC closing a monthly candle above resistance for the first time in quite a while. BTC dominance also hit a new high for the year rising above 54 percent and volumes were huge as the Bitcoin bulls came back to town.
April Crypto Winners
Ethereum did not make half the gains that Bitcoin did but ETH still managed to end the month 13 percent higher than it started. Momentum has been slow going for the token which has lost a lot of those initial gains. ETH started out at just over $140 and ended April at $160 after reaching a high of $185.
Bitcoin Cash had an epic month in April starting out at $168 and ending at $256 after surging above $300 four times. The 52 percent gain on the month makes BCH one of the top performers. Litecoin did well with a 21 percent gain from $60 to end April at $73. LTC lost a lot of its initial gains as it touched $96 twice.
EOS did not fare as well as its peers gaining only 13 percent during April and dropping down two places on the market cap charts. EOS ended April at $4.70 after almost touching $6. Binance Coin has surged in April starting at $17.40, hitting a new all-time high of $25.35, and pulling back to $22 resulting in a 26 percent gain.
Monero added 9 percent during the month as it climbed from $56 to $61 after topping $70 a couple of times. Tezos fared better with a 14 percent gain in April, Ethereum Classic better still adding 20 percent.
April Crypto Losers
Ripple’s XRP was a clear loser in April as it failed to retain any gains whatsoever and ended the month marginally down at $0.306. XRP pumped to a monthly high of $0.37 but dumped over 17 percent during the course of April.
Stellar dumped 7.5 percent in April as it ended the month at $0.099 after beginning at $0.107. XLM has lost all gains from its initial spurt to $0.134 and, like XRP, has ended the month down. Cardano also lost out in April ending 4 percent down by month end at $0.067. Tron ended April where it started at $0.023 as the pump to $0.031 did not hold. Likewise with Dash which started and finished the month at around $110.
Unsurprisingly Bitcoin SV got battered 17 percent in April after Binance boycotted BSV and several others followed. A big partnership announcement was not enough to keep IOTA from dropping a percent by the end of the month. NEO also fell a little and found itself 3 percent lower by the end of April and rounding out the top twenty is Ontology which dumped all gains and ended up 17 percent lower.
Crypto markets saw impressive gains during April but Bitcoin was the clear leader, eating into the altcoins as over half of them lost out. The first week saw a huge surge across the board but not all could hold onto their gains. In summary Aprils gains were much higher than in March, the crypto winners were Bitcoin, Bitcoin Cash and Binance Coin while the big losers were Stellar, Bitcoin SV, and Ontology.
All figures from Coinmarketcap.com