The Great Moon Experiment: June 5th update. 10,000 in Moons - $500 USD - 10 Coins on Binance, Redditors pick the Coins.

What's shakin, /r/cryptocurrency.

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Back in November 2020, I did a contest where I sold $500 in moons and picked 10 coins off Binance. Next November, I'm donating the proceeds to the people who picked them.

Last month, when DOGE was going insane, I gave the person who picked it the option of selling it at the very top - They accepted and wanted to donate some proceeds to charity.

The community helped choose the nonprofits to donate to, and all proceeds have been distributed.

As well, a new name went onto the list (Though not too many people read the challenge..) in XLM.

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Well, that's different!

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#10 - XLM - $27.33

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Unfortunate timing.

With the recent market pullback, XLM has the unfortunate timing of actually almost halving its value since the post was made. It's ok newcomer, you'll catch back up eventually. Maybe. Hopefully!

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#9 - XMR - $124.53

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Down the value slide.

I'm sure that XMR is happy another coin is taking its place at the bottom of the value charts, but it continues to follow Bitcoin in almost all ways, and that includes down. Nothing special with the charts on this one in the last month.

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#8 - LTO - $158.71

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Looking a bit grim here.

In one of the major slides of the month, LTO is down 65% from its former glory days. It briefly dipped at almost -75% but has recovered slightly in the interim. If you're someone who buys the dip in a project, might not be a bad buy range.

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#7 - XRP - $198.09

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Good if you like rollercoaster rides!

XRP was really popping before the recent drop so it makes sense for it to correct harder than most things. Down over 40% in the last month means XRP's shed some of its recent valuation, more than a lot of other coins out there.

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#6 - IOTA - $254.19

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You'll probably see a few of these.

IOTA is another that was poppin', but now it's droppin' types of coins, so it had a huge pullback followed by a reraise. Pretty close to Bitcoin's charts, though it had a few larger rises due to its dev testnet coming out.

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#5 - ETH - $316.29

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Follow the leader, though, not as much.

Even though its chart looks like the rest, ETH has had a gentler fall than most alts, getting hit by about 25% of a drop, which is crazy if you think of the insane fomo buying over 4k at the earlier end of the month. It's actually stabilized quite well.

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#4 - NANO - $553.45

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A fun ride, at least.

NANO had a blistering fomo induced ride to start the month, followed by a 70% cratering followed by a return to the mean. The coin has barely lost value in terms of the overall market pullback and looks to be fairly strong after implementing their newest security patch.

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#3 - VET - $632.67

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All good things must come to an end.

After a crazy wild ride in May, VET has cooled off with the market and looks to be more riding with Bitcoin like a lot of other coins. Nothing new or particularly interesting with its charting and all time highs are just a number for now.

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#2 - ADA - $844.74

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Wheeeeeee!

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One of the few coins to GAIN market share in last month's pullback, ADA both went through crazy fomo and a pullback into recording net upticks over the month of May. Sentiment is pretty high and so is the portfolio value of the people holding ADA.

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#1 - SOL - $1,072.32

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Can this really be counted as down?

SOL is down slightly from its dizzying heights of almost $60 ($2ish original price when starting this challenge) but has largely recovered most of its market value, despite Bitcoin remaining down almost 50%. I'd say SOL holders made it out relatively unscathed this month.

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Our portfolio ended last month at $18,553.32, giving a total loss of $14370.68 in May. (This number is affected by selling the DOGE as a 1 time thing)

If the $500 (10,000 moons) had been left in moons, they would currently be worth $765.

If the $500 had been left in BTC (0.0353 * $36,238), it would be worth $1279.20

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Congrats to u/CalculatedLuck for the VET pick, u/Madfires for ADA, and u/arika2411 for SOL.

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See you in July!