- 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 being driven by an outflow of bitcoin from major exchanges. The increase in stablecoin activity likely indicates that new demand is entering the crypto asset market. This could be another sign adoption is set to continue in 2021.
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