Memecoins And Altcoins On Fire: Discover The Incredible Figures Of The Crypto Market For The Month Of November

Long considered as fleeting trends, memecoins continue to surprise. These seemingly light cryptos are playing roller coasters, oscillating between euphoria and calm, captivating both enthusiasts and skeptics. November marked a turning point with impressive increases, led by memecoins and supported by other major altcoins. VanEck highlights this rapid rise, which reshapes the contours of the crypto market.

Solana and meme cryptos at the top

The month of November was triumphant for the price of Solana, which recorded a rise of 42 %, reaching a historic peak of $262. But the spotlight returns to memecoins, whose on-chain activity exploded by 95 %, boosting the volumes of decentralized exchanges. Solana generated $177 million in revenue, thus doubling its previous monthly record.

Notable revenues:

• Jito: $185 million from arbitrage;
• Pump.fun: $92 million via memecoins.

Solana did not stop there: the Phantom wallet became the number 1 app for free utilities on Apple, and Robinhood has relaunched SOL trading. The imminent airdrop of the NFT marketplace Magic Eden promises to further intensify activity.

What strengthens Solana’s position as a flagship ecosystem for meme cryptos.

Cardano, Polkadot, and the revival of altcoins

Cardano, with a 201 % increase, shone among altcoins. Behind this rise, major announcements, such as the creation of a crypto policy office in Washington by Charles Hoskinson, galvanized investors.

The on-chain governance and a total value locked (TVL) up by 180 % bear witness to the renewed appeal of Cardano, although there is still a long way to go to compete with Ethereum.

Polkadot, often underestimated, surprised by rebounding through initiatives like Mythos Chain, dedicated to gaming. Gavin Wood, its founder, is betting on a more agile architecture to improve interoperability. Despite ongoing technical challenges, Polkadot could become a serious alternative to other crypto market giants.

Memecoins, although popular, do not have only fans. Changpeng Zhao (CZ) from Binance has not minced his words in criticizing their lack of seriousness, while Dan Finlay from MetaMask sees them as a hindrance to Web3. So, jewels or burdens? The debate remains open.