Author: Frank, PANews
Since the dust of the U.S. election has settled, the cryptocurrency market seems to have entered a money-making mode. On one side, Bitcoin is surging close to the 100,000 USD mark, while on the other side, the heat was first concentrated on MEME coins and then shifted with the strong performance of mainstream competitive coins like XRP. People seem to realize that the long-awaited competitive coin season has truly arrived.
What is the real situation of the cryptocurrency market data after Trump's victory? Which sectors are the most sought after? PANews conducted data analysis of spot trading on 289 major exchanges since November 2 to clarify the real dynamics of the market over the past month.
Data explanation: This study analyzes the data of 289 spot trading pairs listed on OKX. The time frame is from November 2 to December 2.
Nearly 60% of tokens doubled within a month
From the overall data, the market has indeed entered a collective upward trend over the past month. The average maximum increase of all tokens reached 166%, meaning almost all tokens increased by more than double. In the analyzed sample, there are 4 tokens with increases of over ten times, 11 tokens with increases of over five times, 53 tokens with increases of over two times, accounting for 18.3%. The number of tokens with increases of over one time reached 171, accounting for 59%. This means nearly 60% of mainstream tokens have increased by over one time in the past month.
Top 20 tokens by increase
Among them, the token with the largest increase is OL, the token of a Web3 gaming platform, which saw an increase of 2784.99%. However, considering that this token only went live on OKX on November 18, its subsequent trend remains to be seen.
PNUT, as the hottest MEME coin in November, ranks second with a 2400% increase, but from the data on the PNUT chain, its increase should belong to the top of the entire network, far exceeding this value.
Among the long-established tokens, the one with the largest increase is X, which benefited from Musk's comprehensive victory in the election. With its name advantage, X saw a maximum increase of 1746% within a month and became the hottest token after the election. However, after the heat subsided, X also faced a maximum retracement of 71%. For investors keen on speculating on this token, it has been quite a roller coaster ride.
Among the top five tokens with the largest price increase, there is also the DORA token, which saw the largest increase of 1386%, and this astonishing rise was basically achieved within one day. On November 14, the DORA token surged 13 times in a short period but quickly retraced by 92%. Overall, it has increased by about 130% compared to November 2. The current market cap of this token is about 96 million USD, which is not considered high. There seems to be no news in the market explaining the reason for this sudden surge.
In terms of the top 20 tokens by increase, mainstream public chains remain the most favored investment targets, accounting for 28.6%, followed by MEME coins and DeFi projects, each accounting for 19%. Additionally, among the top 20, 14.3% are gaming concepts and 9.5% are AI concepts.
Gaming, MEME coins, and the metaverse lead the market increase.
Which sectors are currently the most popular? From the summarized results, tokens related to gaming concepts have an average maximum increase of 273.4%, making it the hottest competitive coin sector at the moment. Following closely are MEME coins, with an average maximum increase of 225%, and sectors like the metaverse, Layer 1, and social media. The sector with the smallest increase is the fan economy sector (tokens themed around various football teams or clubs) at only 85%.
However, in the analysis, PANews found that the leading increase in the gaming sector does not seem to stem from the true popularity of the gaming sector but rather due to the newly launched OL and the previously successful X that capitalized on the hype. Excluding these two projects, the real average increase in the gaming sector is around 148%, which is less than the overall increase of Layer 1.
Layer 1 projects have a relatively high market share. Among the 289 spot trading pairs on OKX, there are 66 Layer 1-related projects, with 46 of them having increased by more than 100%. Over the past month, the average maximum increase of these Layer 1 projects has 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 recently popular XLM and XRP also saw maximum increases of 613.59% and 484.31%, respectively. Considering factors like market cap, Layer 1 is undoubtedly the sector with the most choices for leading capital in this round.
The market popularity of MEME coins does not need much introduction. This year, during the majority of the time when mainstream competitive coins were relatively quiet, MEME coins have been flying alongside Bitcoin. However, the overall retracement of the MEME coin sector after the peak is the largest, with an average of over 40%. This once again reminds people to pay more attention to volatility while chasing gains.
Among this set of data, what may be surprising is the outstanding performance of the metaverse. Excluding MEME coins, the overall real increase of the metaverse should be the largest, averaging at 165.2%, with several well-known metaverse projects like SAND, VRA, and MANA seeing maximum increases of over 200% within a month. Moreover, due to their dual identity as gaming and metaverse projects, they seem to benefit from a boosting effect when related concepts rise.
Among the several hot sectors this year, RWA, DePIN, and AI's market performance has recently appeared quite ordinary. In addition, NFT and fan economy projects performed poorly in this round of increase, indicating that it seems difficult for NFT to recreate the brilliance of the previous bull market.
MEME coins, community, and fan economy have the largest retracement
Finally, let's pay attention to the overall market's retracement intensity. Although the overall market is looking good, it often also means greater volatility. PANews has compiled the retracement levels of these tokens after reaching their peaks. From the overall data, 25 projects have experienced retracements of over 50% after hitting their highs. The tokens with the largest retracements include: DORA (92%), MORPHO (88%), MEMEFI (83%), RADAR (78%), DEP (77%).
Among the 25 tokens with the largest retracements, MEME coins, DeFi, and gaming-related tokens account for the highest proportion, each accounting for 20%.
From the overall situation of the sectors, the retracement of MEME coins, social, and fan economy ranks in the top three. They reached 40%, 38%, and 36% respectively. From this perspective, the performance of fan economy tokens is quite unsatisfactory, with the smallest increase and a high retracement. In comparison, Layer 2, RWA, and Layer 1 tokens have the smallest retracement, averaging less than 20%, showing relatively stable trends.
Has the competitive coin season really arrived? Perhaps this question can already be answered relatively affirmatively. PANews found that although the market dynamics of BTC, SOL, and ETH have always attracted attention in the past month, in terms of actual data performance, BTC's maximum increase ranks 273rd among all tokens, ETH ranks 260th, and SOL ranks 242nd, making them the group with the smallest increases in the market. Meanwhile, those former competitive coin stars that no longer dominate public opinion seem to be quietly returning in another way.
(The above content is excerpted and reprinted with the authorization of our partner PANews, original link)
Disclaimer: The article only represents the author's personal views and opinions, and does not represent the views and positions of Block. All content and opinions are for reference only and do not constitute investment advice. Investors should make their own decisions and trades, and the author and Block will not bear any responsibility for any direct or indirect losses incurred by investors' trades.
"The competitive coin season has arrived! Analysis of the performance of 289 tokens: 60% increased by over 100%, high popularity of public chains and meme coins" was first published on (Block).
