The market has been affected by Bitcoin’s collapse in the last week of April, but altcoins have been impacted the most. Small-Cap cryptocurrencies, in particular, have suffered as a result of this fall.
In April, all of the indexes had a terrible month, but the Small Cap Index took the worst of it. By at least a 12 percent margin, the index has outperformed the other indices this month in terms of losses. The other three indexes, all of which are far larger than this one, have done much better.
Following a strong month in March, this Small Cap Index took a huge plunge at the start of April and has remained in a downward trend since then. The losses in this index had climbed as high as -28 percent by the end of April.
This is a common occurrence, as the Small Cap Index has a history of underperforming during market downturns. The index’s performance in the month of May had been an aberration.
Some have done better than others in the other indexes, however, bitcoin did not come out on top this time. With a -10 percent loss for the month, the Mid Cap Index took the title of the best performer among the four indices. With a -13 percent loss, the Bitcoin Index landed in second place.
With a -16 percent loss, the Large Cap Index was the weakest performance of the three. Despite this, it still outperforms the Small Cap Index by a wide margin.
Given the current situation of the market, the performance of smaller cap cryptocurrencies is unsurprising. It had dropped pretty quickly in April after recovering back into the greed territory in March. The Fear & Greed Index has mostly moved between fear and intense fear zone during the last week.