Best performing cryptocurrencies in November 2021

Blockchain / 5 Min Read
Axi Team / 01 Dec 2021

It was a mixed month in the global crypto markets, with bitcoin (BTC) reaching a new all-time high at the beginning of the month but going on to close the month lower following concerns around the spread of a new COVID-19 variant.

The rest of the crypto markets also started the month strong but was rattled by Omicron towards month-end.

Nonetheless, there were still several impressive performers this month that bought triple-digit price gains.

Let’s dive into our list of the best performing cryptocurrencies of November to see who has outperformed the market.

Best performing cryptocurrencies in November

Below, you will find a list of the top ten performing digital assets in November with a market capitalisation of over $1 billion.

1. Gala (GALA)

2. The Sandbox (SAND)

3. Loopring (LRC)

4. Crypto.com (CRO)

5. Decentraland (MANA)

6. Kadena (KDA)

7. IoTeX (IOTX)

8. Livepeer (LPT)

9. Wax (WAXP)

10. Basic Attention Token (BAT)

 

1. Gala (GALA)

Market capitalisation: $4,874,623,632

MoM %: 630%

YoY %: 245,621%

Gala Games offers an array of different blockchain games that give players control over their games. The price of its in-game currency GALA has rallied wildly in November, ignoring corrections across the wider crypto market.

The price has been driven by strong interest across a majority of gaming and metaverse crypto assets. GALA soared to a record high of $0.70 amid the metaverse craze, and the project is currently valued at almost $5 billion.

 

2. The Sandbox (SAND)

The sandbox game

View from inside The Sandbox virtual world from a player's avatar.

Source: The Sandbox

Market capitalisation: $6,757,596,230

MoM %: 558%

YoY %: 15,446%

Another metaverse token had a swell month. The Sandbox, which is a blockchain-based virtual world that allows users to create, build, buy and sell digital assets as a game, announced Adidas had reserved land in its virtual world. This drove the asset’s price to a new high this month.

SAND was only trading for less than a dollar back in September and October but has since been on a tear after Facebook rebranded to Meta, igniting investor interest for anything metaverse. The SAND token is trading at $7.37 at the time of writing. 

Starting November 29, the project is allowing curious crypto fans and gamers to test its game for the next three weeks. Depending on what people think about the game quality, we could see an impact on the price.

 

3. Loopring (LRC)

Market capitalisation: $3,887,713,309

MoM %: 377%

YoY %: 1,437%

Loopring is benefiting from the ZkRollup hype in the crypto space. Also, there were rumours at the end of October of a GameStop merger, which led the coin to climb from $0.41 on October 27, 2021 (prior to the speculation) to $1.57 on November 2, 2021. Since then, the price has almost doubled to $2.90.

The project aims to build a modular protocol for building decentralised exchanges on multiple blockchains, combining centralised order matching with decentralised on-chain order settlement.

 

4. Crypto.com (CRO)

Bird eye view of crypto.com arena logo

Market capitalisation: $18,740,260,459

MoM %: 246%

YoY %: 955%

A week after the cryptocurrency exchange Crypto.com announced a massive $700 million 20-year agreement on the naming rights of the Staples Center in Los Angeles, the Crypto.com CRO token price doubled in value from $0.43 on Nov.17 to $0.76 on November 25.

The exchange also had the beta launch of its own blockchain, Cronos Chain. Within three weeks of launch, it had surpassed $1 billion in total value locked.

 

5. Decentraland (MANA)

Market capitalisation: $8,987,653,107

MoM %: 237%

YoY %: 5,533%

Over the month, a portion of virtual real estate in the Decentraland metaverse was sold for a record $2.4 million. After the sale, the MANA token reached an all-time high.

Decentraland has over 90,000 parcels of virtual land, and users can buy and sell land to create their own unique structures, from shops to entire villages. The sale shows the price of virtual land mirrors that of real-world real estate. Decentraland has also benefited from the current appetite for anything metaverse in the world.

 

6. Kadena (KDA)

Market capitalisation: $2,678,218,597

MoM %: 145%

YoY %: 9,596%

KDA reached a new all-time high of $18.38 in the early days of the month. Though most people aren’t familiar with Kadena, it is a blockchain project - planning to rival Ethereum, Solana, and other smart contract platforms - that was launched in January 2020. 

The price of the token gained momentum after it announced a partnership with Immutable Records, which will bring a fully-built non-fungible token (NFT) marketplace to the Kadena ecosystem.

It’s currently the 64th largest cryptocurrency by market capitalisation and has high ambitions to process more transactions per second than Ethereum, Solana, and Cardano.

 

7. IoTeX (IOTX)

Market capitalisation: $1,463,110,540

MoM %: 138%

YoY %: 1,816%

The IOTX token’s price hit a new all-time high after the project rebranded to focus on “MachineFi”, NFTs, and decentralised finance. MachineFi follows the trend of DeFi and GameFi, intending to connect smart devices, machines and finance via blockchain technology.

The project’s token rose more than 200% after announcing the rebrand but went through a correction after a few days.

 

8. Livepeer (LPT)

Market capitalisation: $1,173,763,095

MoM %: 145%

YoY %: 4,268%

The Livepeer token appreciated rapidly after the project co-hosted the COLLIDE event with the Glass streaming platform. COLLIDE was the first-ever live concert to have live minting of video non-fungible tokens (NFTs). 

The attendees of the live event were allowed to capture the performance of musicians, DJs and dancers as video NFTs. Then, they were minted and up for immediate sale on OpenSea.

 

9. Wax (WAXP)

Market capitalisation: $1,386,653,248

MoM %: 145%

YoY %: 1,914%

Wax has also benefited from the rise of the metaverse and digital collectibles. Its price has risen dramatically based on a new Hot Wheels NFT series that was revealed earlier in the month and launched on November 16.

The project stayed put in the billion-dollar market cap mark this month and entered the top 100 coins. It’s currently valued at $1.4 billion dollars.

 

10. Basic Attention Token (BAT)

Market capitalisation: $2,399,101,715

MoM %: 98%

YoY %: 560%

While the crypto market was losing billions of dollars after fears of the new COVID-19 variant broke the news, Basic Attention Token (BAT) rallied to a new record high rising by over 30% in the same period. BAT reached $1.88 for the first time, with a market capitalisation of $2.74 billion.

Though nothing particularly newsworthy drove the latest price surge of the Internet browser’s, earlier in the month, it launched an integration with the Solana network.

*Market capitalisation and price percentage as of Nov. 30th, 2021.

Recommended reading: What is tokenomics?

 

Major crypto announcements in November

Arguably the two biggest news announcements in the crypto markets this month were the implementation of Bitcoin’s Taproot software update and Crypto.com’s move to purchase the naming rights to the Staples Center in LA.

Bitcoin Taproot Upgrade

This new Bitcoin upgrade is the biggest upgrade of the Bitcoin software since 2017. This upgrade introduces an encryption algorithm called Schnorr signatures, which will enable bitcoin transactions to become more private, efficient, and secure.

Crypto.com Arena

Crypto.com secured the naming rights for 20 years to Staples Center in Los Angeles. This prominent venue will be renamed Crypto.com Arena on December 25. The deal cost about $700 million, making it one of the largest amounts ever paid for a sporting venue’s naming rights.

 

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The information is not to be construed as a recommendation; or an offer to buy or sell; or the solicitation of an offer to buy or sell any security, financial product, or instrument; or to participate in any trading strategy. Readers should seek their own advice. Reproduction or redistribution of this information is not permitted.

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