Cryptocurrencies of all types and sizes are abundant in the booming cryptocurrency market, offering traders a variety of ways to profit from trading them. Some individuals might find it prudent to hold off on trading, at least for the time being. A list of three altcoins could be a good idea to steer clear of in May using indications such as ratings, historical price trends, and recent developments surrounding specific cryptocurrencies.
#1: ABBC (ABBC)
Despite encouraging advancements in recent years, like the introduction of the Aladdin Wallet and the crypto payment retail mall Buyaladdin, this token continues to build upon its disappointing outcomes.
The coin’s technology and adoption score currently stands at a low “E-,” which in terms of altcoins denotes “very weak”. In contrast, its market momentum has a “C” score, which is rated as “good,” thanks to the encouraging, albeit erratic, results over the past week (5.18%) and last month (37.95%), with the negligible daily gain of 1.85%, currently trading at the price of $0.09.
ABBC/ USD 4-hour chart | Source: TradingView
#2: Dero (DERO)
The Dero (DERO) project entered the cryptocurrency space with confidence and zeal, claiming to be “the most technologically advanced smart contract platform out there.” Still, its development appears to be stalling, earning it an “E-” for technology and acceptance.
Contrarily, the company’s market momentum, which at press time was trading at $7.19, is rated as “excellent” with a “B” score due to the monthly growth of its price of 21.66%. However, this momentum is restrained by the 4.32% loss on the company’s daily chart and the 10.84% fall over the previous week.
DERO/ USD 4-hour chart | Source: TradingView
#3: Kusama (KSM)
Another cryptocurrency from the list from last month is Kusama (KSM), which hasn’t changed much since then despite a brief bullish recovery in the previous week that saw the price of the Polkadot (DOT) ecosystem’s pre-production blockchain version rise by almost 16% at the time.
While the asset’s market performance has maintained the same “weak” score of “D+,” having declined 0.49% on the day and 8.33% over the week, but gained 0.41% over the month, and trading at $31.5, it’s adoption and technological development continue to have a “very weak” rating.
KSM/USD 4-hour chart | Source: TradingView
It’s crucial to remember that the crypto market frequently surprises observers with some unexpected turns. Given this, even the aforementioned crypto currencies, despite not appearing to be making a comeback, could.
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