Public chains and MEME coins are very popular.
Written by: Frank, PANews.
Since the dust of the U.S. election has settled, the crypto market seems to have entered a money-making mode. On one side, Bitcoin is surging towards the $100,000 mark, while the heat has first concentrated on MEME coins, and then emerged strongly with mainstream altcoins like XRP. People seem to realize that the long-awaited altcoin season really seems to have arrived.
What is the real situation of market trends after Trump's victory, and which tracks are the most sought after? PANews conducted data analysis on spot trading from 289 mainstream exchanges since November 2 to analyze the real dynamics of the market in the past month.
Data explanation: This study analyzed data from 289 spot trading pairs launched on the OKX exchange. The time frame was from November 2 to December 2.
Nearly sixty percent of tokens increased by over 100% within the month.
From the overall data, the market has indeed entered a collective upward trend in the past month. The average maximum increase of all tokens reached 166%, meaning almost all tokens have doubled in value. In the analyzed sample, there are 4 tokens with increases over ten times, 11 tokens with increases over five times, 53 tokens with increases over two times, accounting for 18.3%. The number of tokens with increases over one time reached 171, accounting for 59%. This means nearly six out of ten mainstream tokens have increased by more than 100% in the past month.
Top 20 tokens by increase.
Among them, the token with the largest increase is OL, a token from a Web3 gaming platform, which reached an increase of 2784.99%. However, considering that this token was only listed on OKX on November 18, its subsequent trend still needs to be observed.
PNUT, as the hottest MEME coin in November, ranks second with a 2400% increase. However, based on the data from the PNUT chain, its increase should rank first across the network and far exceed this value. (Related reading: Data interpretation of PNUT's on-chain chips)
Among the long-released tokens, the one with the largest increase is X, benefiting from Musk's comprehensive victory in the election. With its name advantage, X saw a maximum increase of 1746% within a month and briefly became the hottest token after the election. However, after the heat subsided, X also faced a maximum correction of 71%. For investors enthusiastic about speculating on this token, it has been quite a roller coaster ride.
Among the top five tokens by increase, there is also a token DORA, which achieved the largest increase of 1386%, and such an astonishing increase was basically completed within one day. On November 14, DORA token surged 13 times in a short period, but quickly corrected by 92%. Overall, it has increased by about 130% compared to November 2. The current market value of this token is about $96 million, which is not considered high. There also seems to be no news in the market explaining the cause of this sudden surge.
In the classification of the top 20 tokens by increase, mainstream public chains are still the market's most favored investment targets, accounting for 28.6%. Next are MEME coins and DeFi projects, both holding a 19% share. Additionally, among the top 20, 14.3% are gaming concepts and 9.5% are AI concepts.
Gaming, MEME, and the metaverse lead the market.
Which sectors are currently the hottest in the market? From the summarized results, tokens related to gaming concepts have an average maximum increase of 273.4%, making them the hottest altcoin track at present. Next are MEME coins, with an average maximum increase of 225%, followed by the metaverse, Layer 1, and social sectors. The smallest increase is in the fan economy sector (tokens themed around various football teams or clubs) at only 85%.
However, PANews found in its analysis that the leading growth of the gaming sector does not seem to stem from its genuine popularity, but rather because the newly launched OL and the recently trending X both belong to this sector. Excluding these two projects, the real average growth of the gaming sector is about 148%, which is less than the overall growth of Layer 1.
Layer 1 projects have a high market share, with 66 Layer 1-related projects among the 289 spot trading pairs on OKX, of which 46 have exceeded a 100% increase. In the past month, the average maximum increase of these Layer 1 projects reached 154%. The top five with the largest increases are: HBAR, XLM, XRP, ALGO, CSPR. Among them, HBAR's maximum increase reached 679.76%, while the recently popular XLM and XRP increased by 613.59% and 484.31%, respectively. Considering factors like market capitalization, Layer 1 is undoubtedly the most chosen track for this round of major funds.
The market popularity of MEME coins certainly needs no further introduction. This year, while most mainstream altcoins have been quiet, MEME has consistently soared alongside Bitcoin. However, the overall correction of the MEME sector after its peak has been the largest, averaging over 40%. This again reminds people to pay more attention to volatility while chasing gains.
Among this data set, what might be surprising is the exceptionally bright performance of the metaverse. Excluding MEME coins, the overall real growth of the metaverse should be the largest, averaging 165.2%, with several well-known metaverse projects like SAND, VRA, and MANA seeing increases of over 200% within a month. Moreover, from the attributes of these projects, it seems that because they belong to both gaming and the metaverse, they can benefit from the related concept's rise.
However, the performance of several hot tracks this year, such as RWA, DePIN, and AI, seems average recently. Additionally, NFT and fan economy projects performed poorly in this round of increase, and it seems that NFT is finding it difficult to replicate the brilliance of the previous bull market.
