Both traditional and crypto markets had negative movements in May, with the exception of the S&P500 which remained flat. All crypto moved sharply downward this month with the hardest hit being SOL, ETH and XRP which returned -46.0%, -28.8%, and -28.0% respectively.

May Highlights

• SOL fell 46.0% to $45.74 in May, its worst performing month since the token launched in 2020. The Solana network suffered its fifth outage of the year on June 1st when the network was inactive for over four hours.
• Cardano's developer activity has been growing steadily over the past few months, according to data from Github. The project’s main repository has seen 12% more contributors since the start of the year as the Cardano team prepares to launch the Vasil hard fork on the 29th of June.
• After seven months of controlling the largest portion of Ethereum’s hashrate, the Ethermine mining pool was surpassed by unknown miners. Since the start of 2021, Ethermine and Spark Pool have historically been the dominant players in the mining of ETH.