ALTCOINS outperformed!!!
November brought explosive gains for altcoins as a wide range of smaller cryptocurrencies outperformed bitcoin BTC, prompting calls for an altcoin season.
The native token of Avalanche AVAX surged 97% over the past month, the most among large-cap digital assets, benefitting from news that finance giants JPMorgan and Apollo are using the network to test real-world-asset tokenization.
Transaction volumes on Avalanche's blockchain also experienced an uptick over the month, recording its highest weekly traffic of $2 billion in transactions in a year, a report by blockchain analytics firm IntoTheBlock pointed out.
The report also noted a sizable increase in inflows to Avalanche over the last two quarters of the year, with $79 million in net inflows in Q3 and $56 million in Q4 through late November, helping rejuvenate the ecosystem.
Bitcoin BTC meanwhile, booked a 10% monthly gain, spending most of the month between $43,000 and $44,000. After multiple previous breakout attempts being sold quickly, the largest crypto by market cap apparently jumped above the range on the last day of November, hitting a fresh yearly high of $38,800.
The second-largest crypto, ether (ETH), increased 13% in November, stabilizing above the $2,000 level for the first time since April and consolidating there.
