Bitcoin remains on track to finish the week flat near $8700, eyes on NEO and Cardano
|Bitcoin rose an impressive 62% in dollar terms in the month of May to post its largest monthly increase since 2017 and extended its winning streak to four months following January's 7.5% drop. After peaking above the $9000 mark earlier this week, however, the BTC/USD pair eased from its highs and now remains on track to finish the week virtually unchanged near $8700. During the May-rally, a large part of which took place in the first half of the month ahead of the New York Blockchain event, Bitcoin's market cap rose above $150 billion from $95 billion.
Bitcoin Price Top Forecast: $9,000 remains a hard nut to crack
Bitcoin SV outperforms rivals
Looking at the top performers of May, Bitcoin SV, which is currently the 8th largest cryptocurrency with a market capitalization of $3.37 billion according to coinmarketcap.com, lead the rally with a 231% increase and didn't look back after breaking above the critical $100 psychological threshold.
What's coming up?
Earlier this week, NEO announced that it will be executing a major upgrade to its MainNet on Monday, June 3. "In order to improve network stability, the Network Fee mechanism will also be adjusted. The main change is the addition of an Oversize Fee that will be charged relative to size on transactions larger than 1024 bytes," the developers wrote in the project's official blog.
On May 7, Cardano announced that it will be updating its roadmap website and said that it would go live within 2-4 weeks, suggesting that we could see the update in the next couple of days. "Aligned with the keynote speech from CEO Charles Hoskinson at the recent IOHK Summit, the new roadmap site will provide a clear definition of delivery phases, how they fit together, and what we’ll deliver when," David Esser, Cardano's senior product manager said.
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