Kraken Intelligence, our team of in-house research experts, has released its Market Recap & Outlook Report for November 2020. The report is designed to provide a comprehensive overview of the top crypto assets’s monthly performance, identify emerging trends shaping our industry and lend insight into what to expect in the months ahead.
This latest report examines month-over-month changes for BTC, ETH, XRP, LTC and BCH, events that shaped the month and identifies emerging trends that can explain the market’s latest move higher. Additionally, we cover how institutional adoption is moving in lock-step with bitcoin’s climb higher, a sign that adoption is alive and well.
More broadly, we show how news of a COVID-19 vaccine drove optimism higher in traditional markets, causing bitcoin to move with “risk-on” assets and against “risk-off” assets. We also touch on the latest developments surrounding Ethereum, XRP, and Bitcoin Cash, while also providing a comprehensive month-over-month review of key performance metrics.
By downloading our report, you’ll gain new insights and receive our latest data on the fundamentals that are driving growth in the industry.
- Coming Together – Favorable technicals, fundamentals and outspoken support from institutional investors pushed bitcoin’s price to a new all-time high of $19,850 in November and trading volume reached $86 billion, also a new high.
- Risk-On – Wallets holding more than 100 BTC accumulated over 56,000 BTC over the course of the month’s trading. This suggests that “smart money” may see more upside ahead. Elsewhere, altcoins such as ETH, LTC and XRP outperformed BTC amid surging demand across the market.
- Fresh Faces – An increase in stablecoin usage appears as if it’s…