Since the dust of the US election has settled, the crypto market seems to have entered a money-making mode. On one side, Bitcoin is skyrocketing towards the $100,000 mark, while on the other, the heat initially concentrated on MEME, then with the strong performance of mainstream altcoins like XRP, people seem to realize that the long-lost altcoin season may have truly arrived.
What is the real situation of the market trends after Trump's victory, and which sectors are the most sought after? PANews has analyzed the data of spot trades on 289 mainstream exchanges since November 2 to decipher the real dynamics of the market in the past month.
Data description: This study analyzes the data from 289 spot trading pairs listed on the OKX exchange. The time frame is from November 2 to December 2.
Nearly 60% of tokens have doubled in value within the month.
From the overall data, the market has indeed entered a collective rising trend in the past month. The average maximum increase of all tokens has reached 166%, meaning that almost all tokens have increased by more than double. In the analysis sample, there are 4 tokens that have increased by more than ten times, and 11 tokens that have increased by more than five times.
Tokens that have increased by more than 2 times number 53, accounting for 18.3%. The number of tokens that have increased by more than 1 time reaches 171, accounting for 59%. This means that nearly 60% of mainstream tokens have increased by more than 1 time in the past month.
Among them, the token with the largest increase is OL, the token of the Web3 gaming platform, with an increase of 2784.99%. However, considering that this token was only launched on OKX on November 18, the subsequent trend of the token remains to be observed.
PNUT, as the hottest MEME coin in November, ranks second with an increase of 2400%. However, from the data on the PNUT chain, its increase should be the highest in the entire network and far exceed this figure.
Among the tokens that have been issued for a long time, the one with the largest increase is X, benefiting from Musk's comprehensive victory in the election. The well-known X saw its maximum increase reach 1746% in a month, even becoming the hottest token after the election. However, after the heat subsided, X also experienced a maximum pullback of 71%. For investors who are keen on speculating this token, it can be said they have been on a roller coaster ride.
Among the top five increases, there is also the DORA token, which has achieved a maximum increase of 1386%, and such an astonishing increase was mostly completed within one day. On November 14, the DORA token surged 13 times in a short period, but quickly pulled back 92%, currently showing an overall increase of about 130% since November 2. The current market capitalization of the token is about $96 million, which is not high. Furthermore, there seems to be no information in the market explaining the sudden surge in price.
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%. Next are MEME coins and DeFi projects, each holding a 19% share. Additionally, there are 14.3% in the top 20 that are related to gaming concepts and 9.5% that are related to 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 it the hottest altcoin sector at the moment. Following are MEME coins, with an average maximum increase of 225%, while the metaverse, Layer 1, and social sectors follow closely. The smallest increase is from the fan economy sector (tokens themed around various football teams or clubs), which is only 85%.
However, in the analysis, PANews found that the lead in the gaming sector's increase does not seem to stem from the actual popularity of the gaming sector, but rather because the newly launched OL and the recently popular X both belong to this sector. Excluding these two projects, the actual average of the gaming sector is about 148%, which is less than the overall increase of Layer 1.
Moreover, the proportion of Layer 1 projects in the mainstream market is relatively high. Among the 289 spot trading pairs on OKX, there are 66 Layer 1 related projects, of which 46 have increases exceeding 1 time. In the past month, the average maximum increase of these Layer 1 projects has reached 154%.
The five tokens 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 also saw maximum increases of 613.59% and 484.31%, respectively. Considering factors like market capitalization, Layer 1 is undoubtedly the sector chosen by most capital in this round.
The market heat of MEME coins naturally needs no further introduction. This year, while most mainstream altcoins have spent much time in silence, MEME has consistently flown alongside Bitcoin. However, the overall pullback of the MEME sector after reaching its peak is the largest, with an average of over 40%. This also serves as a reminder that while chasing after dogs, one should also pay attention to volatility.
In this set of data, it may be surprising that the performance of the metaverse is exceptionally bright. 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 maximum increases exceeding 200% within a month.
Moreover, from the attributes of these projects, since they belong to both gaming and the metaverse, they seem to benefit from the upward momentum of related concepts.
This year, several hot sectors, RWA, DePIN, and AI, appear to be performing rather mediocre in the recent market. Additionally, NFT and fan economy projects have performed poorly in this round of increases, suggesting that it is quite difficult for NFTs to recreate the glory of the last bull market.
MEME, social, and fan economy have the largest pullback.
Finally, let's pay attention to the overall market's pullback strength. Although the overall market is looking better, it often means greater volatility. PANews has compiled the pullback ranges of these tokens after reaching their peaks. From the overall data, 25 projects have experienced pullbacks of over 50% after hitting 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 have the highest proportions, each accounting for 20%.
From the overall situation of the sectors, MEME, social, and fan economy have the largest pullback rates, reaching 40%, 38%, and 36%, respectively. From this perspective, the performance of fan economy tokens can be described as less than satisfactory, with the smallest increase and a high pullback rate. In contrast, in terms of pullback rates, Layer 2, RWA, and Layer 1 have the smallest pullback rates, averaging less than 20%, showing relatively stable trends.
Has the altcoin 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, from the actual data performance, BTC's maximum increase ranks 273rd among all tokens, ETH ranks 260th, and SOL ranks 242nd, making them one of the smallest increases in the market.
Meanwhile, those once-popular altcoin stars that no longer dominate public opinion seem to be quietly returning in another way.
