November 2024 Crypto Round-Up by TDMMIn a month that saw #Bitcoin nearing $100,000 and memecoins stealing the spotlight, the crypto market came alive in November 2024. This period will be remembered as a breakthrough month for the cryptocurrency market. Political power shifts, regulatory optimism, record-breaking market metrics, and institutional momentum redefined how traders, investors, and institutions perceive digital assets. From Bitcoin nearing $100K to memecoins’ unexpected dominance, the crypto ecosystem proved its resilience, adaptability, and unrelenting ability to capture global attention.Here’s the inside track on what happened, why it mattered, and what it means for the crypto market.The Trump Effect on CryptoWhen Donald Trump returned to the White House, the crypto world responded with a roar. His electoral victory signaled the start of a crypto-friendly framework, encouraging exchanges and institutions to lean into expansion. Platforms that had tread cautiously saw the opportunity to double down on innovation.The moment the election results became clear, Bitcoin's price, which had already been climbing, got an additional boost. From around $75,000, it quickly shot past $99,000, breaking all-time highs and today trading at $97,000. It’s a clear signal of the market’s faith in the asset amid evolving policies.Memecoins Take Centre StageWhat started as a niche for internet humor exploded into the spotlight. In November, memecoins became serious contenders.https://t.co/1JY0OSVIB5: The token recorded its highest monthly revenue in history. Its launchpad generated a revenue of $82.78 million in November, marking a 207% increase from the previous month.The GMMEME Index: Tokens like $PEPE, $SHIB, and $DOGE drove the GMMEME index up by a jaw-dropping 90%, far outpacing the broader market’s 36% growth.The Rise of PNUT: What started as a joke turned into financial fireworks. Elon Musk’s viral squirrel tweets catapulted PNUT to a 1,500% gain in just one week, adding $1.68 billion to its market cap. Binance’s timely listing turned this internet meme into a market heavyweight.Boom of Just a Chill Guy : In November 2024, the Solana-based CHILLGUY token experienced significant growth, driven by its viral success on TikTok. This popularity among Gen Z audiences led to a remarkable surge in its market performance. The token's price increased by over 6,000% within weeks of its launch, reaching an all-time high of $0.48 before stabilizing at around $0.44. This growth propelled its market capitalization from an initial $10 million to approximately $500 million.The Listing-Ranking CorrelationPhantom wallet’s meteoric rise in the Apple App Store—from 377th to 9th—was no coincidence. Offering support across Solana, Ethereum, Bitcoin, Base, and Polygon, Phantom positioned itself as more than a wallet—it became a financial gateway for the decentralized era.The TakeawayPhantom’s success reflects the market’s demand for flexibility, user autonomy, and access to diverse tokens. CEO Brandon Millman notes that traditional exchanges are being outpaced by more agile, user-centric technologies. Phantom's strategic positioning reflects a broader transformation in how users approach digital assets, emphasizing flexibility, accessibility, and direct control.Ethereum's Quiet Ascent Amidst Bitcoin's HeadlineWhile Bitcoin's meteoric rise to nearly $100,000 stole the headlines in November 2024, Ethereum quietly reinforced its position as the foundational backbone of the crypto ecosystem.Record on-chain volume: On November 15th, Ethereum hit $7.13 billion in daily on-chain volume, its highest mark of the year.The network effect: Bitcoin’s price surge to an all-time high above $90,000 pulled Ethereum into a broader wave of enthusiasm, reigniting DeFi activity, NFT trades, and layer-2 innovations.November by the NumbersLet’s take a look at some market metrics that matter:Total Market Cap: Surpassed $3 trillion, exhibiting the market’s capacity for massive capital absorption.Bitcoin Market Dominance: 57% (a year-to-date high)Hit a 12-month high of $117 billion, reflecting unparalleled liquidity flows.Numbers like these confirm that crypto is no longer speculative fringe finance. It’s a maturing market with the depth and liquidity to rival traditional asset classes.Institutional ConfidenceThe institutional pivot from skepticism to conviction was on full display in November.• Spot ETFs as catalysts: The approval of Bitcoin spot ETFs unlocked a flood of institutional capital, creating a foundation of stability and trust. • Strategic portfolio allocation: Hedge funds, pension funds, and asset managers are no longer just dabbling in crypto—they’re integrating it as a strategic asset to hedge against inflation and diversify portfolios.• Emerging ETF Opportunities: The crypto ecosystem saw heightened interest in expanding ETF offerings beyond Bitcoin & Ethereum. Four institutions are racing to apply for @solana (SOL) ETFs through the Cboe BZX Exchange, signaling growing interest in altcoins as viable institutional assets.Breaking Historical PatternsIf there was any doubt about the power of cultural narratives, November erased it.Institutional Infrastructure: Unlike previous cycles, there's now a stronger financial infrastructure supporting crypto investments.Social Media as a Market Driver: Platforms like X (formerly Twitter) and Robinhood are no longer just communication channels - they're direct market drivers.What’s Next?November’s momentum signals something bigger than a bullish month. It marks the start of a new phase for crypto: one driven by regulatory clarity, institutional confidence, and cultural relevance. The $3 trillion market cap - achieved potentially early in this cycle - hints at room for further expansion.Closing thoughtNovember 2024 cemented crypto as a permanent fixture in global finance, culture, and technology.For traders, investors, and market enthusiasts, the lesson is clear: this is a time for bold strategies and informed decisions. Whether you’re trading memecoins, staking @ethereum, or holding Bitcoin, the path forward is paved with opportunities and the rewards belong to those who are prepared.P.S. This isn’t financial advice. Please do your own research before making any financial decisions.
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