🎯Monthly Market - Insight🎯
🐤The cryptocurrency market maintained its upward trend during the month, with total market capitalization growth of up to 11% compared to the previous month. This month saw a unique dynamic rally in the first half of the month, after which the market entered a fluctuating phase.
Main developments:
1. SOL and LINK Are Outstanding Stars: SOL and LINK continue to be the best coins in the top 10 in terms of market capitalization, with month-on-month growth of 69% and 29%, respectively. This rise is supported by growing institutional interest, with GSOL and GLINK trading at 800% and 200% premium respectively.
2. Bitcoin Transaction Fees Surpass Ethereum: Transaction fees on Bitcoin have surpassed Ethereum, expanding to their highest level in more than two years. Renewed interest in the Ordinals protocol has increased trading activity on Bitcoin and created massive demand for block space.
3. Solana Boom: DEX trading volume on Solana increased by more than 166% between October and November, in line with the increase in daily activity and market capitalization of the SOL token. Special attention to Pyth Network, Jupiter Exchange, and Jito Network along with reward programs from major Solana DeFi protocols have fueled growth in DEX activity.
4. Polygon zkEVM Reaches Important Milestone: In November, Polygon zkEVM's TVL increased to 107.8 million USD, an impressive growth of 47.2% compared to the previous month. This increase was driven by key developments and Polygon's continued emphasis in the ZK space, generating positive interest in its ecosystem.
5. Telegram Bots Still Popular: Despite little media attention, Telegram bots have maintained steady activity and trading volume, pointing to stability in the sector.
Overall Comment:
The cryptocurrency market is experiencing notable volatility, with sharp increases in SOL and LINK, movements between Bitcoin and Ethereum transaction fees, and significant growth in Solana and Polygon zkEVM.
