Because the gains earned in October are spilling over, November has been an interesting month for the crypto sector. After a big bullish rise on November 9, Bitcoin hit an all-time high of $68K, and these gains are spreading to other coins.
Altcoins are also gaining a lot of traction, which makes investors want to get in on the action. However, with so many altcoins on the market, determining which ones are the best to invest in can be difficult.
The top five altcoins experiencing significant gains in November 2021 are listed below.
1. Ripple Effect (XRP)
XRP is another coin that could be a solid investment in November. The US Securities and Exchange Commission (SEC) has charged Ripple with securities fraud, but this hasn’t stopped the coin from making profits, forming partnerships, and developing strategic alliances.
Because of the company’s announcement on November 9, Ripple will see significant increases in November. Ripple has announced the development of a new product that will allow financial institutions to provide consumers the opportunity to buy and sell bitcoins.
2. EOS
EOS is another coin that could be a solid investment in November. EOS was formerly the most popular cryptocurrency network and the seventh-largest blockchain by market capitalization. The network brags about its fast processing rates, but it hasn’t capitalized on its scalability.
Because the network is trying to reconstruct itself, EOS is currently gaining a lot of traction. BlockOne has brought the EOS network back to life by transferring $210 million in EOS tokens to the Helios network. These funds aim to increase the network’s viability, and if it develops traction, the altcoin might see significant profits.
3. Solana (SOL)
Solana is another coin that has seen significant growth in November (SOL). In fact, in recent months, Solana has been one of the best-performing currencies on the market, and its gains do not appear to be slowing down.
The value provided by Solana’s network is one of the reasons for its tremendous growth. Solana is thought to be the quickest blockchain on the market, which has attracted a large number of developers to join the network.
4. Polkadots (DOT)
Polkadot (DOT), another altcoin that is gaining a lot of traction, is one of the finest crypto investment options for November. DOT touched an all-time high of $54 last week, and it has been clinging to levels over $50 since then.
DOT has increased by more than 50% in the last month. The benefits have been attributed to the network’s currently available parachain auction slots. The parachain auction slots will begin on November 11 and will run through the end of the year, with 11 sets of parachains being auctioned each week.
5. Ethereum (ETH)
Ethereum is the most popular altcoin, and it’s one of the best cryptocurrencies to buy in November. According to data from CoinGecko, Ethereum is hitting new all-time highs, and on November 9 it made a significant bullish climb towards a record high of roughly $4850.
Analysts believe Ethereum has the ability to hit $5000 by the end of the year, and considering its recent increases, this might happen. The coin has risen almost 38% in a month, which coincides with the network’s massive upgrade in August, the benefits of which are beginning to show now.
Source: Nyscinfo