Since the dust settled on the U.S. elections, the crypto market seems to have entered a money-grabbing mode. On one side, Bitcoin is rapidly approaching the $100,000 mark, while on the other, the heat first concentrated on MEME, then surged with the strong performance of mainstream altcoins like XRP, leading people to realize that the long-awaited altcoin season seems to have truly arrived.
What is the real market situation after Trump's victory, and which sectors are the most sought after? PANews conducted a data analysis of spot trading on 289 mainstream exchanges since November 2, analyzing the real dynamics of the market in the past month.
Data Explanation: This study analyzed the data of 289 spot trading pairs listed on the OKX exchange. The time frame is from November 2 to December 2.
Nearly 60% of tokens have increased by more than 100% within the month.
From the overall data, it is indeed observed that the market has entered a collective uptrend in the past month. The average maximum increase of all tokens reached 166%, meaning almost all tokens have increased by more than 100%. In the analyzed sample, there are 4 tokens with increases over 1000% and 11 tokens with increases over 500%.
Tokens with increases over 100% number 53, accounting for 18.3%. The number of tokens with increases over 100% reaches 171, accounting for 59%. This means nearly 60% of mainstream tokens have risen over 100% in the past month.
Among them, the token with the largest increase is OL, a token from the Web3 gaming platform, with an increase of 2784.99%. However, considering this token was only listed on OKX on November 18, its future trend still needs to be observed.
PNUT, as the hottest MEME coin in November, ranks second with a 2400% increase. However, looking at the on-chain data of PNUT, its increase should be the highest across the network, far exceeding this value.
Among the long-issued tokens, the token with the largest increase is X, benefiting from Musk's comprehensive victory in the election, and with its name advantage, X reached a maximum increase of 1746% within a month, becoming the hottest token after the election. However, after the heat subsided, X also faced a maximum pullback of 71%. For investors keen on speculating on this token, it was truly a roller coaster ride.
Among the top five increases, there is also the DORA token, with the largest increase of 1386%, and such a remarkable increase was essentially completed within one day. On November 14, the DORA token surged 13 times in a short period but quickly pulled back 92%. Overall, it has increased by about 130% since November 2. The current market capitalization of this token is about $96 million, which is not considered high. Moreover, there seems to be no information in the market explaining the sudden surge.
In terms of the classification of the top 20 tokens by increase, mainstream public chains are still the most favored investment targets, accounting for 28.6%, followed by MEME coins and DeFi projects, both holding 19% shares. 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 tracks 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 sector at present. Following that are MEME coins, with an average maximum increase of 225%, and the metaverse, Layer1, and social sectors closely behind. 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 might not stem from its real popularity, but rather due to the new launch of OL and the recently successful hype of X, both belonging to this sector. Excluding these two projects, the real average of the gaming sector is about 148%, which is lower than the overall increase of Layer1.
Layer1 projects have a high market share among mainstream markets. Among the 289 spot trading pairs on OKX, there are 66 Layer1-related projects, with 46 having increases exceeding 100%. In the past month, the average maximum increase of these Layer1 projects reached 154%.
The top five tokens with the largest increases are: HBAR, XLM, XRP, ALGO, CSPR. Among them, HBAR reached a maximum increase of 679.76%, while recently popular XLM and XRP also saw maximum increases of 613.59% and 484.31%, respectively. Considering factors like market capitalization, Layer1 is undoubtedly the sector with the most significant choice of main funds in this round.
The market enthusiasm for MEME coins does not need much introduction. This year, while mainstream altcoins have been largely quiet, MEME has been soaring alongside Bitcoin. However, the MEME sector has had the largest pullback after reaching its peak, with an average pullback of over 40%. This again reminds people to pay attention to volatility while chasing trends.
In this set of data, the surprisingly outstanding performance of the metaverse stands out. Excluding MEME coins, the overall real increase of the metaverse should be the largest, averaging 165.2%, with several well-known metaverse projects like SAND, VRA, and MANA seeing increases exceeding 200% in a month.
Moreover, from the attributes of these projects, since they belong to both gaming and the metaverse, they seem to benefit from related concept surges.
This year, several hot sectors, such as RWA, DePIN, and AI, have shown rather average market performance recently. Additionally, projects related to NFTs and fan economies have performed poorly in this round of increases, making it seem difficult for NFTs to recreate the glory of the last bull market.
MEME, social, and fan economies have the largest pullback.
Finally, let's pay attention to the overall market's pullback strength. While the overall market is improving, it often means greater volatility. PANews has compiled data on these tokens' pullback magnitude after reaching their peaks. From the overall data, 25 projects experienced a pullback of over 50% after reaching their highs. The tokens with the largest pullbacks include: DORA (92%), MORPHO (88%), MEMEFI (83%), RADAR (78%), DEP (77%).
In terms of the proportion of the 25 tokens with the largest pullbacks, MEME coins, DeFi, and gaming-related tokens account for the highest proportion, each representing 20%.
From the overall situation of the sectors, the pullback magnitude of MEME, social, and fan economies occupies the top three positions, reaching 40%, 38%, and 36%, respectively. From this perspective, the performance of fan economy tokens can be described as difficult to explain, with the smallest increases and still ranking high in pullback magnitude. In contrast, in terms of pullback magnitude, Layer2, RWA, and Layer1 have the smallest pullbacks, averaging less than 20%, showing relatively stable trends.
Has the altcoin season truly arrived? Perhaps this question can now receive a relatively affirmative answer. PANews discovered that although the market dynamics of BTC, SOL, and ETH have always attracted attention in the past month, based on real 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.
And those once-popular altcoin stars that no longer dominate the public discourse seem to be quietly returning in another way.
