Author: Frank, PANews
Since the dust settled on the US election, the crypto market seems to have entered a money-making mode. On the one hand, Bitcoin is advancing rapidly towards the $100,000 mark, and on the other hand, the heat first focused on MEME, and then with the strong market of mainstream altcoins such as XRP, people seem to realize that the long-awaited altcoin season seems to have really arrived.
What is the real situation of market data after Trump's victory? Which tracks are the most popular? PANews analyzed the spot transactions on 289 mainstream exchanges since November 2 to analyze the real market dynamics 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 increased by more than 100% within a month
Judging from the overall data, the market has indeed entered a collective rise in the past month. The average maximum increase of all tokens reached 166%, which means that almost all tokens have increased by more than double. In the analysis sample, there are 4 tokens with an increase of more than ten times, and 11 tokens with an increase of more than 5 times. There are 53 tokens with an increase of more than 2 times, accounting for 18.3%. The number of tokens with an increase of more than 1 times reached 171, accounting for 59%. That is, nearly 60% of the mainstream tokens have increased by more than 1 times in the past month.
Top 20 Gaining Tokens
Among them, the token with the largest increase was the Web3 gaming platform token OL, which increased by 2784.99%. However, considering that this token was only launched on OKX on November 18, the subsequent trend of this token remains to be seen.
PNUT, the hottest MEME coin in November, ranked second with a 2,400% increase, but if we look at the data on the PNUT chain, its increase should be the first in the entire network and far exceeds this value. (Related reading: Data interpretation of PNUT's on-chain chips )
Among the tokens that have been issued for a long time, the token with the largest increase is X. Thanks to Musk's comprehensive victory in the election, X, which has a name advantage, has seen the largest increase of 1746% in one month, and once became the most popular token after the election. However, after the popularity declined, X also ushered in a maximum correction of 71%. For investors who are keen on speculating on this token, it can be said to be a roller coaster ride.
Among the top five tokens with the highest increase, there is also a DORA token, which has the largest increase of 1386%, and such an amazing increase was basically completed within one day. On November 14, the DORA token rose 13 times in a short period of time, but soon fell back by 92%. The overall increase is currently about 130% compared with November 2. The current market value of the token is about 96 million US dollars, which is not high. And there seems to be no news in the market to explain the reason for this sudden surge.
Looking at the top 20 tokens by growth, mainstream public chains are still the most popular investment targets in the market, accounting for 28.6%, followed by MEME coins and DeFi projects, each 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 market? From the summary results, the average maximum increase of game-related tokens reached 273.4%, becoming the hottest copycat track at the moment. The second is MEME coin, with an average maximum increase of 225%, followed by the metaverse, Layer1, social and other sectors. The smallest increase is the fan economy sector (tokens based on various football teams or clubs), which is only 85%.
However, in the analysis, PANews found that the leading growth of the gaming sector does not seem to be due to the real popularity of the gaming sector, but because the newly launched OL and the recently popular X both belong to this sector. Excluding these two projects, the actual average value of the gaming sector is about 148%, which is not as large as the overall growth of Layer1.
Layer1 projects account for a high proportion in the mainstream market. Among the 289 spot trading pairs on OKX, there are 66 Layer1-related projects, and 46 of them have increased by more than 1 times. In the past month, the average maximum increase of these Layer1 projects has reached 154%. Among them, the top five with the largest increase are: HBAR, XLM, XRP, ALGO, and CSPR. Among them, HBAR's maximum increase reached 679.76%, and the recent popular XLM and XRP also increased by 613.59% and 484.31% respectively. If factors such as market value are taken into account, Layer1 is undoubtedly the track most chosen by major funds in this round.
The market popularity of MEME coin naturally needs no introduction. This year, when the mainstream altcoins were mostly silent, MEME has been on the track of flying side by side with Bitcoin. However, the overall correction of the MEME sector after the peak was the largest, with an average of more than 40%. This once again reminds people to pay more attention to volatility while rushing to the dog.
Among this set of data, it may be surprising that the performance of the Metaverse is particularly outstanding. Apart from MEME coins, the overall real increase of the Metaverse should be the largest, reaching an average of 165.2%. Among them, several well-known Metaverse projects SAND, VRA, and MANA have increased by more than 200% in one month. Moreover, judging from the properties of these projects, because they belong to both games and the Metaverse, they seem to be driven by the rise of related concepts.
The market performance of RWA, DePIN and AI, which are relatively popular this year, seems to be average in the near future. In addition, NFT and fan economy projects have performed at the bottom in this round of growth. It seems that it is difficult for NFT to reproduce the glory of the last bull market.
MEME, social networking, and fan economy saw the largest pullbacks
Finally, let's take a look at the overall market's pullback strength. Although the overall market is improving, it often means greater volatility. PANews counted the pullbacks of these tokens after they reached their highs. From the overall data, 25 projects have experienced a pullback of more than 50% after reaching their highs. Among them, the tokens with the largest pullbacks are: DORA (92%), MORPHO (88%), MEMEFI (83%), RADAR (78%), and DEP (77%).
Among the 25 tokens with the largest pullbacks, MEME coins, DeFi and game-related tokens have the highest proportion, all accounting for 20%.
From the overall situation of the sector, MEME, social networking, and fan economy ranked in the top three in terms of callback amplitude. They reached 40%, 38%, and 36% respectively. From this perspective, the performance of fan economy tokens is hard to describe, with the smallest increase and the callback amplitude ranking among the top. Relatively speaking, in terms of the callback amplitude, Layer2, RWA, and Layer1 have the smallest callback amplitude, averaging less than 20%, and the trend is relatively stable.
Has the copycat season really arrived? Perhaps this question can already be answered with a relatively positive answer. PANews found that although the market dynamics of BTC, SOL, and ETH have always attracted attention in the past month, from the perspective of real data performance, BTC's largest increase ranks 273rd among all tokens, ETH ranks 260th, and SOL ranks 242nd, which is the smallest increase in the market. And those former copycat stars who no longer dominate the public opinion market seem to be quietly returning in another way.
