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%.

Leading Cryptocurrencies by Performance

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): 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: 

Performance Grid of top performing cryptocurrencies by rank and timeliness

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