Top 10 Recap - May 16th, 2020

Another week has passed, so it is time for us to review the behavior of the major cryptocurrencies for the last seven days. And this is a special one, since we recently experienced the third BTC halving, which is predicted to have a large impact on the entire market. Let’s begin:

Top 10 Cryptocurrencies - Market Value

1 - BTC: $9384.77, with a change of 0.78% since yesterday and -1.64% since last week.

2 - ETH: $200.84, with a change of 3.18% since yesterday and -4.41% since last week.

3 - USDT: $0.9998, with a change of 0.05% since yesterday and -0.02% since last week.

4 - XRP: $0.199, with a change of 0.56% since yesterday and -8.08% since last week.

5 - BCH: $236.97, with a change of 0.92% since yesterday and -10.71% since last week.

6 - BSV: $188.06, with a change of 1.12% since yesterday and -10.57% since last week.

7 - LTC: $43.22, with a change of 1.12% since yesterday and -8.00% since last week.

8 - BNB: $16.02, with a change of 2.04% since yesterday and -4.76% since last week.

9 - EOS: $2.628, with a change of 1.66% since yesterday and -4.54% since last week.

10 - XTZ: $2.565, with a change of 3.14% since yesterday and -8.75% since last week.


And so it begins: the bullish run that usually follows a halving event and lasts for a year or more is showing early signs of appearing. A few days before the halving we saw a big drop take place, where the cryptocurrency market dropped nearly $23 billion in the span of a single hour. However, the positive tendency has been steady, and the market has already reached the level it had before this drop.

This also explains the negative changes of the top 10 tokens in the market for this week. Despite the positive tendency, the market is still recovering from the drop, but it has done it in a very effective way. BTC is naturally the first one to react, which is why we see only a 1.64% change. The rest of the big names register decreases of 4%-8%, which can be an indicator of the time they take to react to BTC’s movements. We will have to keep a close look on these tokens for the following weeks, as this behavior could also be a sign of what’s to come for smaller altcoins.

Top 10 Cryptocurrencies - Performance

1 - DRGN: $0.09996, with a change of 290.15% since last week.

2 - PRO: $0.191, with a change of 160.64% since last week.

3 - ETN: $0.01004, with a change of 159.82% since last week.

4 - MAN: $0.01385, with a change of 129.05% since last week.

5 - LYM: $0.003752, with a change of 114.03% since last week.

6 - FSN: $0.5996, with a change of 113.87% since last week.

7 - CND: $0.007313, with a change of 107.41% since last week.

8 - HYC: $0.002532, with a change of 99.52% since last week.

9 - DNA: $0.008533, with a change of 90.56% since last week.

10 - PNK: $0.01921, with a change of 87.90% since last week.