This article will take a look at ten cryptocurrencies that have interesting developments lined up for the month of May, which could also have a positive effect on their price.
- Current Price : $0.291
- Market Cap: $2.348 billion
- Market Cap Rank: #55
The Hedera Network is a public ledger that uses the hashgraph consensus as opposed to the blockchain one. It works with very high efficiency, allowing for more than 10,000 transactions per second, with fees as low as $0.0001.
HBAR is the native token of the Hedera network. It is used to protect the network and power decentralized applications (dApps)
On May 6, Hedera will upgrade its mainnet to version 0.13.2. The upgrade will add two additional nodes, bringing the total count to 20. In addition, it will also enable the Scheduled Transactions feature.
HBAR has been moving downwards since March 15, when it reached a high of $0.445. However, it seemingly reversed its trend with a hammer candlestick on April 23. Currently, it is attempting to reclaim the $0.30 resistance area.
The current price is 36% below that of the March highs.
- Current Price : $5.25
- Market Cap: $671 million
- Market Cap Rank: #112
Lisk is a blockchain application platform that uses the proof-of-stake algorithm. LSK is the native token of the platform.
Lisk.sj is a developer-focused event, in which the Lisk team provides updates on the most recent achievement and news. In addition, it provides the roadmap for the rest of the year.
The 2021 event will be held on May 21 and May 22. It will feature in-depth presentations, providing a deep-dive into numerous important events, such as:
- The Lisk interoperability solution.
- The upcoming online hackathon.
- The improved Lisk developer program.
- The new Lisk core, SDK 5.1.0.
LSK began a sharp decrease on April 17, losing 56% of its value in only six day. However, it bounced at the $3.80 area, validating it as support. It has been moving upwards since.
- Current Price : $1.34
- Market Cap: $42 billion
- Market Cap Rank: #6
Cardano was founded in 2017, by one of the co-founders of the Ethereum (ETH) network. ADA is the native token for the Cardano blockchain.
The Alonzo testnet is expected to come out in May. It will allow developers to create and deploy their dApps in the Cardano blockchain. This is expected to potentially make Cardano a viable competitor to Ethereum, since its functionality will apparently allow it to dabble in the DeFi ecosystem.
ADA has been trading inside an ascending parallel channel since the beginning of March. On April 23, it bounced at the support line of the channel and has been increasing since.
The bounce also served to validate the $1.04 area as support, a level which previously acted as the all-time high resistance area.
- Current Price : $92.20
- Market Cap: $6.503 billion
- Market Cap Rank: #25
NEO was launched as ”Antshares” in 2014, but then rebranded three years later. It is a continuously developing network and is often considered the ”Chinese Ethereum.”
The new mainnet will be launched in July, while the RC2 testnet will be launched sometime around the middle of May. It will be the final testnet released prior to the mainnet launch.
The mainnet will have several new features, such as a built-in oracle, on-chain governance, and distributed object storage system.
NEO has been moving upwards since April 23, and broke out from a descending resistance line shortly afterwards. However, it has yet to even reclaim the 0.382 Fib resistance levels.
- Current Price : $292.82
- Market Cap: $5.481 billion
- Market Cap Rank: #29
Bitcoin SV is a cryptocurrency that was created after a hard fork of bitcoin cash (BCH) in 2018. Its main aims are scalability and stability.
The Bitcoin SV developer convention (DevCon) for 2021 will be held on May 15 and May 16. The virtual event will feature important figures from the Bitcoin SV ecosystem. It will cover numerous topics, both relating to the Bitcoin (BTC) network and on building dApps on various blockchains.
BSV was subject to a sharp decrease beginning on April 16. In a span of only seven days, it lost 55% of its value. While it has been moving upwards since, similarly to NEO, it has yet to even move above the 0.382 Fib retracement resistance level.
- Current Price : $0.888
- Market Cap: $886 million
- Market Cap Rank: #101
REN is an protocol that has the goal of providing liquidity to different blockchain platforms. REN is the native token, which serve to power the mainnet, RenVM.
The new mainnet upgrade will transpire between May 3 and May 9.
REN has been trading inside a descending parallel channel since Feb. 22. This is often a corrective movement.
- Current Price : $40.44
- Market Cap: $21.155 billion
- Market Cap Rank: #9
Uniswap is a decentralized exchange used for swapping tokens. UNI is the native token of the exchange. It is the highest rated DeFi token based on its market capitalization.
Version three of Uniswap will be released on May 5. Its two main features will be concentrated liquidity and multiple fee tiers.
UNI reached a new all-time high price of $44 on April 29. It is currently retracing in order to validate the previous resistance area as support. The next resistance levels are found at $47.4 and $60, respectively.
- Current Price : $10.13
- Market Cap: $401 million
- Market Cap Rank: #146
Aragon is a decentralized platform that focuses on the creation of dApps and decentralized autonomous organizations (DAOs). ANT is the native token of the platform.
The Aragon project will hold its first community call on May 5. In it, they will discuss :
- Aragon voice, a new token-based voting platform.
- Vocdoni, a governance platform.
ANT has been moving upwards since bouncing on April 23. It has broken out from a descending resistance line, but has yet to reclaim the $10.30 resistance area.
- Current Price : $4.232
- Market Cap: $940 million
- Market Cap Rank: #99
Voyager is a cryptocurrency brokerage platform, aiming to serve both institutional and retail investors. The native token is called VGX and is used to provide users with different rewards.
On top of this, beginning on May 1, VGX holders will be able to stake their coins for a 7% annual reward.
VGX has been decreasing alongside a descending resistance line since Feb. 24.
- Current Price : $1.45
- Market Cap: N/A
- Market Cap Rank: #2708
Blind Boxes is a gamified curation platform. In addition, it acts as a launchpad for non-fungible tokens (NFTs). BLES is the native token of the Blind Boxes platform. It has a total supply of 100 million.
On May 1, the Blind Boxes Launchpad will be launched, allowing creators to sell their ERC-20 tokens in order to raise funds for NFT projects.
BLES has been moving downwards since its inception and is currently attempting to find a floor near $1.50.