Cryptocurrencies attracted all the attention, seeing a capital value of 3 trillion dollars in November. In the last month's volatility, the total capital value remained stable at an average of $2.6 trillion.
How Was The Last Month For Bitcoin?
Crypto asset BTC, the flagship of the crypto money markets, reached a record price of $ 69,000 in November, but lost an average of 7.1 percent in November with its monthly closing at $ 56,950. Bitcoin started December just below $57,000 after a partial pullback in November. Bitcoin market dominance rate fell from 44 percent in November to 41.62 percent at the close of the month.
Looking at the monthly outlook for Bitcoin, it is noteworthy that the current price level fell below $ 30,000 in the April – May 2021 period, and started December at the $ 57,000 band. BTC/USD recovered from the impact of the collapse that continued until the beginning of the summer of 2021 and compensated for this sharp decline with its October performance. The recent outlook in Bitcoin reflects the importance of maintaining the $57,000 band in December.
How Was The Last Month For Ethereum?
The largest altcoin Ethereum started December with a price of $ 4,630, increasing its value by 8 percent, unlike BTC, in November. Closing November on a positive note was important for the Ethereum market. After breaking a record by seeing the price of $ 4,868 in November, Ethereum briefly slackened below $ 4,000, but the purchases in the last days of the month allowed it to approach the value of ATH again.
Ether, the native token of the Ethereum network, which is by far the leader among smart contracts platforms in the cryptocurrency industry, has gained significant traction this year with major updates to the network and catalysts for its successful continuation on the Ethereum 2.0 path. The Ethereum 2.0 process, which can be summarized as the transition process of the Ethereum network from proof of work to proof of stake, was an important factor in Ethereum's outperforming Bitcoin this year.
What is the Latest Situation for Other Altcoins?
The total altcoin market cap remained stable at an average of $1.5 trillion throughout November. Total capital value, which saw a decline in May and June during the bull season, reached a record $1.7 trillion in November after recovering as of July.
The rapid development of the cryptocurrency industry causes altcoin prices to rise significantly. Especially in 2021, the growth in the DeFi industry has been a catalyst for altcoins. The inclusion of the NFT sector in this stream and then the Metaverse stream towards the end of the year keeps the demand alive for the local tokens of the projects operating in these sectors.
Among the top 100 cryptoassets, November's return champion was the GALA token, which rose to 44th place with a 595 percent increase in value in the last 30 days. Then, SAND (302%), LRC (288%), CRO (250%) were among the crypto assets that attracted attention with their value increases in November.
While metaverse tokens and blockchain-based game tokens were mentioned frequently in November, Shiba was also a crypto asset that did not fall off the agenda, as its value increased by 800 percent in October. Although Shiba has seen a 30 percent depreciation in the last month, it can be said that its correction is limited compared to a tremendous 800 percent increase in value in the previous month.
As the general momentum in the crypto money markets slowed down relatively in November, it seems that the performance of crypto assets in the last month of the year will be followed with interest.