Crypto markets made 27% in June, largely from Bitcoin. Ethereum, Litecoin, Link and NEO performed well but Ripple, BCH, EOS, Stellar, and IOTA plunged.
June has been the fifth month in a row that has seen gains all round on crypto markets. While performance was not as good as May’s, total market capitalization did increase by 27% in June and a new yearly high was set. For the first time in over a year crypto market cap topped $385 billion as Bitcoin surged to new fifteen month highs of five figures.
Just as it was last month, Bitcoin has been in the driving seat, notching up most of the monthly gains as its market dominance also hit an 18 month high of 64%. Starting out at around $8,500 at the beginning of June, BTC surged to a high of $13,800 before pulling back to $11,150 by the end of it. The move added a whopping 31% to BTC as the FOMO mounted. A predicted correction had started by the end of June however.
June Crypto Winners
Ethereum could not even come close to its big brother in terms of performance. ETH only managed 10% over the month climbing from $267 to end just below $300. A surge to $360 did occur but most of those gains were wiped out in the pullback. Ethereum is still undervalued in comparison at 79% down from ATH.
Halving FOMO has kept Litecoin cranking in June as it added 13% from $112 to $127. A peak of $145 was hit by LTC but it started to correct by month end. Further gains are likely in July though as the halving nears.
A gain of around 7 percent was also recorded by Bitcoin SV which ended June just above $200. The Bitfinex LEO token also entered the crypto top twenty in June and added 20% as it climbed to $1.77 by month end.
Chainlink was by far the top performing altcoin in June with an epic pump of 300% from just under $1 to $4. A Coinbase Pro listing and some Google Cloud partnership FOMO has driven the massive pump for LINK which surged into the top twenty and settled at sixteenth.
NEO had a solid month with a pump of 24% to climb from $13.75 to over $17 by the end of June.
June Crypto Losers
XRP failed to make any progress in June and actually dumped 7% from $0.434 down to $0.403 by month end. Even a MoneyGram partnership could not keep the Ripple token buoyed up for long as altcoins suffered at the expense of Bitcoin.
Bitcoin Cash suffered a similar fate in June dumping 7.5% from $439 down to $406 by month end. It has also lost fourth place to Litecoin which has outperformed BCH. EOS got trounced in June dumping 28% from over $8 down to under $6 over the course of the month.
Binance Coin ended June where it started at around $33. The exchange based token did hit an ATH of just under $40 but failed to hold on to those gains and fell back with the rest of the altcoins. Cardano lost out again dropping another 4% over the month as ADA fell back to $0.084.
Tron also ended June in the same place as it started at around $0.033. TRX has been pretty flat for the past couple of months and last month was no different as it failed to re-enter the top ten.
Stellar also got bashed in June losing 19% and most of its recent gains as XLM fell back to $0.106. Monero returned to its price of $92 by the end of June as all gains were wiped out. A similar thing happened with Dash which started and ended the month at around $160.
Around 18% was dumped by IOTA which fell from $0.49 to $0.40 during June, while Cosmos slid 5% to end the month at $5.65. Rounding out the top twenty is Ethereum Classic which dropped almost 9% in June.
In summary, Bitcoin was the clear dominant force last month, outperforming all of the altcoins in the top twenty aside from Chainlink. Other crypto winners in June included Ethereum, Litecoin and NEO. The worst performers of the month included XRP, Bitcoin Cash, EOS, Stellar and IOTA.
All figures from Coinmarketcap.com
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