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Crypto prices are stabilising today – June 1 – after a huge price, rally to close the month of May.
Rising crypto prices across the market have helped restore over $100 billion to the cryptocurrency industry. The total cryptocurrency market cap is above $1.3 trillion which is up from a low of $1.1 trillion during the crypto crash, and down from $1.8 trillion before the crash.
Cardano (ADA) was the fastest-growing cryptocurrency yesterday, while all eyes are on Bitcoin holding $31,000, and EverGrow Coin emerges as the leading reflection token paying stablecoin rewards.
EverGrow Coin is up 1% today to hit a price of $0.0000002467.
The EGC token has emerged from the crypto crash as the leading reflection token paying stablecoin rewards. Over $37 million in Binance-pegged USD (BUSD) has now been distributed to wallets holding EverGrow Coin.
The EverGrow Coin stablecoin rewards are financed by a 14% transaction tax, with 8% earmarked for instant distribution in BUSD. On the DigiFinex crypto exchange, rewards are paid in USDT.
BUSD has proved to be a valuable stablecoin reward for EverGrow Coin with Binance being the world's largest crypto exchange by daily trading volume. BUSD was also the most secure stablecoin throughout the crypto crash, wavering minimally from its $1 peg.
The EverGrow Coin project is set for greater things in 2022 as its content subscription platform Crator, as well as LunaSky NFT marketplace and integration with The Abstract metaverse go live.
Bitcoin's market dominance grew during the crypto crash from 41% to 46%.
Despite this, Bitcoin struggled to hold a price of $30,000. But a huge price rally beginning May 30 took Bitcoin's price to over $32,000. As of today – June 1 – Bitcoin is holding comfortably above $31,000.
The rise in the price of Bitcoin came at the same time as new Terra Luna tokens were airdropped to eligible wallets. The success of new Luna listings helped to boost overall faith in the cryptocurrency industry, with all coins benefitting in price increases.
Cardano (ADA) closed the month of May with a price hike of well over 25% in the space of 24 hours.
The pump made Cardano the second-fastest-growing cryptocurrency in the top 100 tokens by market cap – and the fastest in the top 20. Cardano even flipped BUSD and XRP on its way up to 6th place in the crypto market cap rankings.
Cardano reached a local high of $0.68 before falling back down to $0.6078 today. The price of Cardano has therefore fallen 10% today – though it holds its 6th position by market cap so far. The rise in the price of Cardano is nevertheless well above the recent lows of $0.45. During the crypto market crash, ADA even fell to a price of just $0.4.
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