TLDR; crypto having another major glow up. Outerlands Capital giving me my #tidbits The data below means the role players on your team outperformed the star player (Bitcoin) by 40% the last month of games. It's like the rest of the team playing better than the MVP. Rare and a big deal. Why you ask? 🫵 Clearer Rules: Governments and regulators started to make things less confusing about how cryptocurrencies should be handled. 👩💻 Better Tech: Cryptocurrencies are getting better at doing what they promise, like faster transactions or cooler uses. 💰 Big Investors: More big companies and investors are buying into crypto, which adds trust and money to the system.
November was a big month for crypto. An equal-weight index* of the Top 100 cryptocurrencies by market cap posted a nearly 80% gain in November, just narrowly missing the top spot for a month's performance in the last 5 years. Notably, this broader universe of projects outperformed Bitcoin on its own by over 40% (the 4th best level of outperformance in a month in the last 5 years). Impressively, this performance for Bitcoin and alts resulted in record increases in market capitalization, with Bitcoin’s market cap growing over $500bn, and the other 99 projects growing by a combined $434bn, for a total market cap increase of nearly $1trn. We continue to see a positive setup for crypto over the short and long term, with an unprecedented combination of potential regulatory clarity, improving fundamentals, and growing institutional ownership. *Past performance is not necessarily indicative of future results. Any forward looking statements are not guarantees of future performance and are subject to certain risks, uncertainties, and assumptions that are difficult to predict. *This content is educational in nature and should not be considered to be a recommendation to invest. Investing in digital assets or cryptocurrency is highly speculative and volatile, and are only suitable for investors who are willing to bear the risk of loss and experience sharp drawdown.
