Five top 50 coins that stand up to the bears

Many, but not all, of the top 50 coins see red today. A look at the top five performers from May 11th.

The crypto market has seen more bullish days in May. In addition to the crypto key currency Bitcoin, almost all of the top 50 coins on May 11th, in some cases sharply lower prices.

Even the Memecoin DOGE, who keeps dancing out of line, cannot escape the downward spiral. And that despite the fact that he has received backing from Tesla CEO Elon Musk for the umpteenth time. He asked his Twitter followers whether Tesla could accept Dogecoin as a means of payment. The overwhelming approval of his followers has discharged in a short flash in the pan for the Dogecoin course. But the 24-hour does not spit out red candles on all top 50 coins.

Compound: With a slight plus against the sale

At the time of going to press, the governance token of the compound protocol can barely stay afloat with a small daily increase of 2.35 percent. At the time of writing, COMP is trading at $ 784 – around 76 percent higher than a month ago. Holders of COMP can vote on protocol changes on a regular basis. They last had the opportunity to do so on April 27th. The community voted for one Update for the compound token cWBTC.

OKB: Exchange coin on a roller coaster ride

After a bullish morning, the OKB price reached its high for the day at lunchtime at USD 37.51 and a daily gain of 15 percent. Alone, for a long time the utility token of the Bitcoin exchange OKex could not resist the sales mood in the crypto market. At the time of writing, OKB is trading only three percent above the previous day’s level. The fact that he is still one of the top 5 performers among the top 50 coins speaks volumes.

Klaytn reports back

The blockchain newcomer from South Korea can look back on an extremely successful start to the year. In the first quarter, KLAY achieved a return of 700 percent and fits in perfectly with the bullish picture that the crypto market has drawn in recent months. Most recently, Klaytn cooperated with the NFT marketplace OpenSea made waves. Since its all-time high, which KLAY set at USD 4.34 on April 30, the price has been falling. After all: At the time of writing, KLAY has secured a place on the podium with a daily plus of 4.4.

Huobi Token: HT with ATH

Like OKB, the Huobi Token HT is also the utility token of a Bitcoin exchange. Among other things, Huobi users can use HT to get a discount on their trading fees. In principle, exchange tokens benefit from turbulent markets. Increased trading activity often leads to increased demand for exchange tokens. The price development of HT is evidence of the massive increase in trading activity that grabbed the crypto market in the past year. The HT rate is up 700 percent year-over-year, hitting a new record high on May 11 at $ 34.9. With a strong daily increase of 16 percent, the Huobi token takes second place among the daily winners.

SafeMoon: Fickle Memecoin is fickle

In the course of the Dogecoin mania, a large number of free riders set out to grab a piece of the crypto pie with their own memecoin. Many Dogecoin derivatives have their home on the Binance Smart Chain. SafeMoon is one of them. SafeMoon is a project that makes no secret of its ambition: Holders should travel “safely” to the moon, in other words: price gains are guaranteed as long as one is holding. While there may be arguments about the sense and nonsense of the “creative” token economy of the project, SafeMoon – mainly due to extremely high activity in the social networks – has already had some parabolic rallies behind it. At the time of going to press, SAFEMOON was in pole position in the top 5 with a daily increase of over 22 percent.