Altcoins Surge in November as Bitcoin Consolidates, AVAX and Helium Double, NFT and DeFi Tokens Rally
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Avalanche's native token AVAX surged 97% in November, benefitting from increased adoption by finance giants and rising transaction volumes on its blockchain.
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Internet-of-things crypto Helium (HNT) rallied 110% last month amid the altcoin surge.
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NFT platform Blur's token (BLUR) and liquidity protocol THORchain's token (RUNE) doubled in price in November.
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Bitcoin consolidated between $34k-38k in November while smaller altcoins outperformed, signaling an "altcoin season" as profits rotated into riskier assets.
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CoinDesk market index data showed strong gains of 42% and 39% respectively for the NFT/metaverse and DeFi sectors last month amid the broadening crypto rally.