Exchange Tokens

Coin Race of November: Exchange Tokens Up, Bitcoin, Meme Coins Down

It’s December 1, and this monthly coin race shows that November was a mixed bag for the crypto market. Compared to October, the entire market lost last month due to the loss of smart contract platform tokens such as Bitcoin (BTC),Polkadot (DOT), Cardano (ADA), and the two most essential meme coins. Performance has deteriorated much. Bitcoin saw a noticeable fix during the month. Some investors also ended the month far from the closing price of $ 98,000 predicted for November  by a renowned Bitcoin analyst, Plan B.

Top 10 coins in November

Some coins worked much better than others. The top 10 coins by market capitalization showed different performances in November. Bitcoin reached a record high of about $ 69,000 on November 10. However, it has fallen by more than 20% since then, reducing some of its recent losses. For now, BTC is just under 18% below its highs and is trading at around $ 57,000.

As for the other significant coins that suffered last month, the recent trend meme coin Dogecoin (DOGE) was hit hardest by selling pressure. The original meme coin was competing with the Shiba Inu (SHIB) for meme coin dominance. It dropped 21% a month after failing to reach record highs in August and October. Following DOGE, Cardano’s ADA token lost almost 20%, the second-lowest performing this month on the top 10 list. Tokens have been steadily declining since reaching a record high of $ 3.1 on September 2, almost 50% below that level. The coins that performed well in November, Binance coins (BNB), stand out among the excellent cryptography. Binance’s stock exchange tokens rose more than 20% during the month to a price of $ 633, not far from the consistently high of just over $ 690 on May 10.

Best from the top 50 in November

Expanding the range to cover the most valuable 50 coins by market capitalization, many of November’s best performances were small-cap coins that weren’t the largest. The best of the group was GALA, a token issued by the blockchain gaming company Gala Games. Tokens experienced a significant recovery in the second half of November, increasing by almost 700% in two weeks. The rally took place amid rising bullish movements in the cryptocurrency game and Metaverse sector. In the same broad category as GALA, the Metaverse Token was the great Sandbox (SAND) with a monthly profit of over $ 300% and $ 6.75. Nevertheless, the current price is still below the record high of $ 8.49 for the token hit on November 25. MANA, the token used in Decentraland’s virtual world, rose nearly 69% to trade at $ 4.58.

Worst from the top 50 in November

Moving to the worst-performing of the top 50 coins ranked by market capitalization we should note that this month the numbers were more green than red. However, many coins suffered in November. The top three coins with the best performance in the top 50 rose 553%, 303%, and 238%, respectively, while the three worst-performing coins lost 34%, 26%, and 21%. The group of coins Cosmos (ATOM) lost nearly 26% in a month. The currency has fallen almost 40% from its record high of $ 44.80 on the 20th of September, trading at $ 27.63. Among the other notable coins that suffered losses, Fantom (FTM) could also be mentioned, with the currency dropping more than 21% in a month to a price of $ 2.17. However, it is worth noting that FTM saw significant increases in August, September, and October before November. In addition, the Decentralized Application Platform (Dapp) Near Protocol’s NEAR token stood out as one of the major losers in November after a record high of $ 13.2 in October. Currently, tokes are about 35% below this level. On the other hand, as mentioned above, meme coins such as DOGE and SHIB also stood out as part of the biggest losers in November.

Winners & losers from the top 100 & 200

If you zoom in further and look at the 100 most valuable coins by market capitalization, you can see that some coins more than doubled in price last month, further boosting the best performing GALA. For other coins that have not yet been discussed, the Decentralized Exchange (DEX) Token Loop (LRC) stood out with an increase of almost 336%, while the coin (CRO) was well above 200%. In addition, AVAX tokens from Avalanche, a smart contracting platform that attracted attention to Ethereum at a high price this year, rose almost 100% last month.

 Finally, let’s look at the movement of small, little-known coins in the top 200 ranked by market capitalization. Here, CEEK, the token used in the virtual reality platform of the same name, has risen to a whopping 722nd place, moving from a record high to another high on a nearly vertical line. The worst-performing one of the top 200 coins in November was SafeMoon, a coin that ironically promises to “take the owner safely to the moon.” Now, the currency is trading at $ 0.000002, lower by about 55% than it was in November.