November's Crypto Market Review: High Flyers and Key Stats
John Barry | Sat Dec 02 2023
November Performance Statistics: Top 64 Cryptocurrencies
Average November Gain: 24.25%, Higher: 57, Lower: 7
November’s Stars: In the top 64 there were 28 cryptos that had gains of over 20%: The top 5 gainers were: Kaspa ($KAS) +162%, Thor Chain ($RUNE) +120%, Immutable X ($IMX) +104%, Avalanche +95% and Solana ($SOL) + 59%.
For the 3rd month in a row Chainlink was up over 29%.
For the 2nd month in a row Solana was up over 59%, Cronos up over 20%, Render Token +39%.
Accurate Rank and Timeliness: For the second consecutive month, the Crypto Market exhibited a bullish trend, with an average gain of 24.25% across the top 64 cryptocurrencies. The Quantify Crypto Ranking and Timeliness ratings demonstrated high accuracy during this period.
In November, cryptocurrencies with the highest rank (1) experienced a 30% increase, while those with an above-average rank (2) saw a rise of 30.75%. In contrast, cryptocurrencies with lower rankings underperformed relative to the average cryptocurrency gain of 24.25%: Average (3) increased by 23%, Below Average (4) by 23.25%, and the lowest-ranked (5) by only 13%.
Cryptocurrencies with a bullish Timeliness score significantly outperformed others, increasing by 36.6%. However, those ranked as very bullish (+18.5%), Neutral (+23%), Bearish (+23.25%), and Very Bearish (+13.25%) all underperformed compared to the average.
The past month has reinforced the effectiveness of the Quantify Crypto Ranking and Timeliness system, aligning closely with market trends. High-ranking cryptocurrencies consistently outperformed the market average, while lower-ranked ones lagged. This pattern was further evidenced in the Timeliness scores, where bullish-rated cryptocurrencies markedly exceeded the performance of their bearish counterparts.
Significant News (all covered in more detail in the research report for that cryptocurrency):
- Cronos (Nov 14th): Crypto.com announces its Dubai entity, CRO DAX Middle East FZE, has been granted a Virtual Assets Service Provider (VASP) License.
- Avalanche (Nov 15th & 16th): JP Morgan and Citibank announce testing of the use of Avalanche subnet Evergreen.
- THORChain: Its DEX is now ranked 3rd for trading volume.
Performance Grid:
Quantify Crypto Research Reports
Unlock exclusive insights and gain a competitive edge in the dynamic world of cryptocurrency with a Quantify Crypto Gold Subscription. Subscribers access in-depth research reports, up-to-the-minute crypto rankings, and critical timeliness positions, designed to empower your investment decisions.
Stay ahead of the market trends with our expert analysis and comprehensive data. Don't miss out on the opportunity to transform your crypto strategy with the cutting-edge tools and resources available exclusively to our Quantify Crypto Gold members.
Use this link to subscribe: https://quantifycrypto.com/plans
Have a questions? E-mail us at admin@quantifycrypto.net
Disclaimer
Quantify Crypto is an informational website that provides market data, technical analytics and links to news and commentary sources. Information published on Quantify Crypto platform should not be taken as investment advice in any way.
Quantify Crypto is not an investment adviser and you agree to not site the Quantify Crypto platform or content as the reason or cause for making any trading decisions.
Quantify Crypto is not accountable, directly or indirectly, for any damage or loss incurred, alleged or otherwise, in connection to the use or reliance of any content you read on the site. You agree not to consider the information on Quantify Crypto platform as a solicitation to invest in any cryptocurrencies, initial coin offerings, or other financial instruments.