How did the different sectors in the crypto market develop and which coins stand out in each sector? The detailed sector analysis on a monthly basis.
In early to mid-month, we saw bitcoin outperform the indices. From mid-November, a race to catch up began, which led to a month-to-month outperformance of ALT (+60%) against Bitcoin (+42%), MID (37%), and SHIT (+40%).
The underperformers in the ALT index (10 coins) were BNB (-0.86%), BCH (+8.4%), and EOS (10.15%). The largest performance drivers were XRP (+154%), ADA (+63%), and LTC (+54.5%). The MID index (30 coins) generally saw prices rise. The only exceptions were CRO (-26%) and HT (-6%). As usual, the performance range was striking in the MID index between the underperformer HT and the outperformer AAVE (193%).
Below, you will find the performance chart of our sectors relative to the total overall index:
Platform
The DeFi coins are still in vogue and some of them are dominating the market. After a hard correction of 25% on Thanksgiving, the DeFi Index recovered within mere days and started trading at the same levels as before the heavy market correction. The total value locked is steadily increasing, and is currently $14.5bn.
Privacy
ZEN (Horizen) is a privacy-oriented cryptocurrency with sidechains enabling anyone to build a privacy-based application. The genesis block launched in November 2016, with a capped supply of 21m coins.
IoT
The IOTA Foundation has announced that it will be launching a new wallet called Firefly. The update should come with an upgrade as well, e.g., introduction of profiles, reusable addresses, and improved network performance. Firefly will be the new wallet for IOTA 1.5, also known as the Chrysalis upgrade.
Payment
XRP showed an impressive performance, and outperformed all coins in our universe. The trading range of approx. $0.32 is almost unreal, but those market moves have been accompanied with very high market volume. CBDCs are still a hot topic around the globe, and Ripple (XRP) could play an important role in this.
Entertainment
For once, the Entertainment sector was under the radar this month.
Exchange
In general, the exchanges went through a high volume phase during November as the market opened up for many traditional sources, such as PayPal, and the overall increasing acceptance of cryptocurrencies globally.
File Storage
Interoperability
DOT (Polkadot) is one of the highflyers in 2020. The project was launched in May 2020, and currently ranks eighth (within the top 10!), with a market capitalisation of $5bn. Polkadot is a blockchain network designed to support various interconnected, application-specific sub-chains called parachains.
SoV
After the PayPal announcement, LTC (Litecoin) became extremely popular and market volume increased greatly. The CEO of PayPal has called on the crypto industry to work hand in hand with regulators.
DCR (Decred) is a hybrid proof-of-work and proof-of-stake (PoW/PoS) cryptocurrency with a strong focus on community input, open governance, and sustainable funding for development.
Others
Copyright © 2020 | Crypto Broker AG | All rights reserved.
All intellectual property, proprietary and other rights and interests in this publication and the subject matter hereof are owned by Crypto Broker AG including, without limitation, all registered design, copyright, trademark and service mark rights.
Disclaimer
This publication provided by Crypto Broker AG, a corporate entity registered under Swiss law, is published for information purposes only. This publication shall not constitute any investment advice respectively does not constitute an offer, solicitation or recommendation to acquire or dispose of any investment or to engage in any other transaction. This publication is not intended for solicitation purposes but only for use as general information. All descriptions, examples and calculations contained in this publication are for illustrative purposes only. While reasonable care has been taken in the preparation of this publication to provide details that are accurate and not misleading at the time of publication, Crypto Broker AG (a) does not make any representations or warranties regarding the information contained herein, whether express or implied, including without limitation any implied warranty of merchantability or fitness for a particular purpose or any warranty with respect to the accuracy, correctness, quality, completeness or timeliness of such information, and (b) shall not be responsible or liable for any third party’s use of any information contained herein under any circumstances, including, without limitation, in connection with actual trading or otherwise or for any errors or omissions contained in this publication.
Risk disclosure
Investments in virtual currencies are high-risk investments with the risk of total loss of the investment and you should not invest in virtual currencies unless you understand and can bear the risks involved with such investments. No information provided in this publication shall constitute investment advice. Crypto Broker AG excludes its liability for any losses arising from the use of, or reliance on, information provided in this publication.
