RATE Group | Despite Hitting Monthly Price Lows, Bitcoin Network Fundamentals Keep Growing
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Despite Hitting Monthly Price Lows, Bitcoin Network Fundamentals Keep Growing

28 May Despite Hitting Monthly Price Lows, Bitcoin Network Fundamentals Keep Growing

Posted at 15:43h in Bitcoin News by

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Monday, May 28: crypto markets are experiencing a significant decline with all top ten cryptocurrencies listed on Coinmarketcap (CMC) in the red. Some altcoins such as Cardano (ADA) and Bitcoin Cash (BCH) are seeing losses up to around 30 percent over the last 7 days.

Market visualization

Market visualization from Coin360

With a decline of around 35 percent over the last 30 days, Bitcoin (BTC) has hit a monthly low of $7,259 at press time. The cryptocurrency continues its downward trend started in early May after the price almost touched the $10,000 mark on May 6.

Bitcoin price chart

Bitcoin price chart. Source: Cointelegraph Bitcoin Price Index

Ethereum (ETH) is down 20 percent over the past week, trading at $536 at press time.

Ethereum price chart

Ethereum price chart. Source: Cointelegraph Ethereum Price Index

Total market cap has lost up to $85 bln over the last 30 days, currently at $313 bln.

Total market capitalization chart

Total market capitalization chart. Source: Coinmarketcap

Of the top 10 coins, Cardano has seen the largest loss over the past 7 days, currently trading at…

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