Shiba Inu, Ethereum Classic, Polygon — May's Best Performing Cryptos

Another trend that emerged was the appreciation in the prices of Ethereum and Bitcoin look-alikes that struck massive gains at the beginning of the month. Chief among them was ETC, but others that gained included Bitcoin Diamond (BCD) and Bitcoin Gold (BTG).

The high network or gas fees on Ethereum blockchain coupled with congestion propelled Polygon (MATIC), a network that hopes to resolve both issues

ADA saw traction in May after Musk said he was looking at other environmentally-friendly cryptocurrencies to replace Bitcoin for payments. Cardano pitched its case directly to Musk via Twitter.

TEL ripped through the roof in early May as it was listed on a decentralized exchange operating on MATIC. The remittance-oriented project linked with TEL also announced a new funds transfer service between Canada and the Philippines.

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