Global #cryptocurrency market

A crypto trader has gained attention in the cryptocurrency market for their significant gains within the decentralized finance (DeFi) sector. This trader managed to accumulate over $1.4 million in unrealized profits by trading the meme coin PEW on the Ethereum (ETH) network.

Dogecoin emerged as one of the top-performing assets in the cryptocurrency market over the past month, surpassing major cryptocurrencies like Bitcoin in terms of gains. CoinGecko data indicates that the price of the meme coin surged by over 26%, while Bitcoin saw a comparatively lower increase of around 19% throughout May.

Recently, there has been a noticeable increase in investor confidence within the cryptocurrency market, benefiting Bitcoin significantly. Despite some ups and downs in its price, large-scale investors have been consistently accumulating BTC.

Despite XRP's mixed performance in recent years, it still maintains a significant following in the altcoin community. While long-term expectations for XRP have varied between bullish and bearish sentiments, short-term predictions from CoinCodex's machine learning algorithm suggest a level of bullishness.

However, as June begins, certain altcoins are facing potential declines. Assets like Cardano (ADA), Bitcoin Cash (BCH), Axie Infinity (AXS), and The Sandbox (SAND) have encountered increased bearish sentiment, raising concerns about the possibility of them relinquishing some of their recent gains in the near future.

Bybit, a leading crypto exchange ranked among the top three by trading volume, has observed a notable increase in EUR trading activity subsequent to the introduction of its EUR Zero Fees Fiesta initiative in April 2024.