November was an exceptionally positive month in many aspects, including the crypto market performance. After a slow start in the first two weeks, the market shot straight up in the third week, generating a 51.1% return until 24 November. This was followed by a sharp two-day pullback (-20%) and a strong rebound (+19.2%) in the last four days of the month. The market ended the month with an exceptional performance of 38.13%.

After two months of Bitcoin outperformance, altcoins took the lead in November. In fact, 23 of the top 25 crypto assets by market capitalization posted gains in November, and the surprising top three performers of the month were the large caps XRP (+177%), Stellar (+160%) and NEM (+96%). Bitcoin dominance decreased slightly and ended the month at 62.4%.

The Solidum Crypto Quant Strategy underperformed the market in November. Nevertheless, the portfolio recorded a positive monthly performance of 13.57%.

Chart 1 - Solidum Crypto Quant Performance (2020-11)

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DISCLAIMER: This article is for informational and discussion purposes only and does not constitute a marketing message, an investment survey, an investment recommendation, or investment advice. The article was prepared exclusively for a better understanding of market dynamics.

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