Market Overview - June 2020

Relative Returns

Another -temporary- end in the crypto markets after two overall great months in the industry. In the two months prior, all projects registered double digit percentage gains, but unfortunately that trend did not continue into June. Stellar (XLM) was up just above 81% in the last two months, and Ethereum (ETH) was up just shy of 80%. In April 2020, ETH spiked to a monthly gain of almost 60% and XLM even went one further and gained just above 71% in the same period.

Finding green numbers this month is more challenging. TRX was able to finish in the green, but just slightly. The rest of the assets lost value, with XRP being the biggest loser of all by declining almost 15%.

The Tron Foundation completed their first airdrop of JUST (JST) to their TRX holders at the end of May, coinciding with their second anniversary of the TRON mainnet. TRX prices rose at the end of the month of May 2020 quite substantially, however so did most other projects during the same time. There was no real evidence that the news from TRON had much to do with the increase in prices, and it was likely more due to the overall market behaviour. This month, even though it doesn't look great at first sight, TRX was able to hold its ground quite well. The news at the end of last month might have had a positive effect on TRX after all, which was able to stay in the top portion of the pack the whole month, finishing as the only asset with positive returns in this report.

Around June 26th, Stellar and Tron were able to run in a positive direction against the main market and recoup some of their losses. The big players, ETH and BTC only continued losing value during the same time. Showing at least hints of the often spoken about AltSeason.

“AltSeason” has been mentioned quite a lot lately in the news, and a bit of euphoria came back after the last two months. However, BTC was the 3rd highest gainer in April 2020, the 2nd highest in May 2020 and the 2nd highest again in June 2020. It might be a stretch calling this Altcoin season already, however the Alts in this report were performing great until the second week of June. The big month of March definitely took most of the increase in a great bull month, the following two were more of a trading range with notable spikes at the end of May and beginning of June. If the much anticipated spike in prices towards the end of the summer happens, there might be clearer evidence of a potential AltSeason starting, but as of now BTC is still in the top of the pack in terms of percentage gains.

Ethereum and Bitcoin followed each other extremely closely this month, after ETH was able to outperform BTC in the prior two months by quite some margin. Throughout the month most spikes and troughs were felt by both assets. Bitcoin performed just slightly better this month, “beating” ETH for the first time in 3 months.

June 2020, Biggest Changes

10-Hour Rolling Volatility