| THE WORLD AS WE SAW IT IN NOVEMBER 2024 |
| The World of Cryptocurrencies |
Bitcoin (BTC) and Ethereum (ETH) rallied as Trump’s election victory fueled the largest monthly gains since February. We might have seen the start of ‘alt-season‘ which has occurred every time Bitcoin’s dominance got weaker. During alt-season Bitcoin loses some of its dominance while other Level-1, Level-2, or DeFi, GameFi, RWAs, etc. projects gain. Especially Decentralized Finance (DeFi) projects seem to experience a major comeback while stablecoins continue their rise, too.
On November 15, the daily on-chain volume of ETH rose to $7.13 billion, marking the highest daily volume of the year and highlighting the resurgence of Ethereum network activity. Ethereum ETFs, meanwhile, are riding a wave of post-election buoyancy, reversing the billions of dollars of outflows that dampened investor enthusiasm when they were launched in the summer. When the first spot Ethereu