Cryptocurrency analysts named the top 5 most profitable tokens in May

Meme coins became one of the main trends in the cryptocurrency market in the spring of 2023. In April, the new Pepe, Wojak, and ArbDoge AI tokens caused a huge stir. In May, attention was drawn to the Milady Meme Coin cryptocurrency, which soared in price after a tweet by Elon Musk. These assets brought high profits to their first investors and launched a new wave of hype around meme tokens.

In general, experts say, the market situation remained stable throughout the spring. Bitcoin BTC $60,856.92 Bitcoin -2.74% Market capitalization $1.2 trillion VOL. 24 hours $1.35 billion has been trading in the range of $ 26−31 thousand since mid-March (at the time of writing, it was $ 26,335). Analysts suggest that this is the last phase before the long-awaited bull run of the flagship asset.

At the end of May, the largest profit was made by Kava (KAVA) holders. During the month, the cryptocurrency rose in price by 42.8% from $ 0.77 to $ 1.1. The capitalization of the asset increased to $ 592.35 million, and daily trading transactions to $ 14.04 million. 554.41 million coins are in circulation.

The second most profitable cryptocurrency was TRON (TRX), which brought investors 16.6% of the profit. In May, the coin rose from $ 0.06 to $ 0.07. The total supply of coins on the market amounted to $ 6.91 billion.

Bitget Token (BTG) took the third position. Over the month, the asset’s price increased by 15.3% from $ 0.39 to $ 0.45, and its market capitalization grew to $ 642.36 million. The total volume of trading operations with the token is estimated at $ 15.77 million.

The top 5 most profitable cryptocurrencies in May also included:
Ripple (XRP) — the coin rose in price by 10.6% from $ 0.47 to $ 0.52.
Render (RNDR) — the asset’s price increased by 10.1% from $ 2.37 to $ 2.61.