Author: Frank, PANews
Since the US election dust settled, the crypto market seems to have entered a "pick up money" mode. On the one hand, Bitcoin is making rapid progress towards the $100,000 mark, while on the other hand, the heat has first concentrated on MEME, and then with the strong performance of mainstream Altcoins such as XRP, people seem to realize that the long-awaited Altcoin season may have really arrived.
How is the market performance after Trump's victory? Which tracks are the most popular? PANews analyzed the spot trading data of 289 mainstream exchanges since November 2, to decode the real dynamics of the market in the past month.
Data description: This study uses the data of 289 spot trading pairs listed on the OKX exchange for analysis. The time range is from November 2 to December 2.
Nearly 60% of tokens have doubled in value within a month
From the overall data, the market has indeed entered a collective upward trend in the past month. The average maximum increase of all tokens reached 166%, meaning that almost all tokens have risen by more than 100%. In the sample analyzed, there are 4 tokens with an increase of more than 10 times, 11 tokens with an increase of more than 5 times, and 53 tokens with an increase of more than 2 times, accounting for 18.3%. The number of tokens with an increase of more than 100% reached 171, accounting for 59%. That is, nearly 60% of the mainstream tokens have risen by more than 100% in the past month.
Top 20 tokens by increase
Among them, the token with the largest increase is OL, the token of the Web3 gaming platform, with an increase of 2784.99%, but considering that this token was only listed on OKX on November 18, its subsequent trend remains to be observed.
PNUT, as the hottest MEME coin in November, ranked second with an increase of 2400%, but if we look at the on-chain data of PNUT, its increase should be the highest in the entire network, and far exceeds this value. (Related reading: Data interpretation of PNUT's on-chain chips)
Among the long-issued tokens, the one with the largest increase is X, benefiting from Musk's comprehensive victory in the election, the token with the name advantage X has a maximum increase of 1746% in a month, and has also become the hottest token after the election. However, after the heat subsided, X also ushered in a maximum 71% correction. For investors who are keen on speculating on this token, it has been a roller coaster ride.
Among the top five increases, there is also a token called DORA, with a maximum increase of 1386%, and such an amazing increase was basically completed within 1 day. On November 14, the DORA token surged 13 times in a short period of time, but quickly corrected by 92%, and the overall increase is currently about 130% compared to November 2. The current market value of this token is about $96 million, which is not high. And the market seems to have no news to explain 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 accounting for 19%. In addition, 14.3% of the top 20 are game concepts and 9.5% are AI concepts.
Games, MEME, and metaverse lead the market
Which sectors are the hottest tracks in the current market? From the summarized results, the tokens related to the game concept have an average maximum increase of 273.4%, becoming the hottest Altcoin track at the moment. MEME coins are second, with an average maximum increase of 225%, followed closely by metaverse, Layer1, social and other sectors. The sector with the smallest increase is the fan economy sector (tokens themed on various football teams or clubs), which is only 85%.
However, in the analysis, PANews found that the leading increase in the game sector does not seem to be due to the real heat of the game sector, but because the newly launched OL and the previously successful X both belong to this sector. Excluding these two projects, the real average value of the game sector is about 148%, which is not as high as the overall increase of Layer1.
Layer1 projects have a high proportion in the mainstream market, and there are 66 Layer1-related projects among the 289 spot trading pairs on OKX, with 46 of them having an increase of more than 100%. In the past month, the average maximum increase of these Layer1 projects has reached 154%. The top five with the largest increases are: HBAR, XLM, XRP, ALGO, and CSPR. Among them, HBAR's maximum increase reached 679.76%, while the recent hot XLM and XRP also increased by 613.59% and 484.31% respectively. Considering factors such as market value, Layer1 is undoubtedly the most chosen track for mainstream capital in this round.
The market heat of MEME coins naturally does not need much introduction, as MEME has been soaring with Bitcoin throughout the year when most mainstream Altcoins were dormant. However, the overall correction amplitude of the MEME sector after the peak is the largest, with an average of more than 40%. This once again reminds people to pay more attention to volatility while chasing dog coins.
In this set of data, the outstanding performance of the metaverse may be surprising. Excluding MEME coins, the real overall increase of the metaverse should be the largest, with an average of 165.2%, and several well-known metaverse projects such as SAND, VRA, and MANA have increased by more than 200% within a month. Moreover, from the attributes of these projects, since they belong to both games and metaverse, they seem to be driven by the rise of related concepts.
However, several tracks that were relatively hot this year, such as RWA, DePIN, and AI, have performed generally in the recent period. In addition, NFT and fan economy projects have performed at the bottom in this round of increases, and it seems that NFT will find it difficult to replicate the glory of the previous bull market.
