November Outlook for the Cryptocurrency Market Which Projects are Worth Investing in?

Determining the Best Cryptocurrency Investment Opportunities for November A Comprehensive Market Outlook

Author: Crazy Sleeping in the Rain

The November outlook is here. Let’s briefly discuss my bullish or holding positions.

1. Cancun series

It seems unlikely for Cancun to happen this year, so don’t expect a big explosion in Layer2 this year. From November 13th to 19th, the Ethereum Foundation will hold the “Devconnect Istanbul” summit in Istanbul, Turkey. You can observe the conference situation at that time. However, the price tends to drop during conferences, so be aware of the risks.

Nevertheless, I still hold $ARB spot and have been accumulating it.

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2. Arbitrum ecosystem

ARB GRANT ended last month, and incentives will be given in January next year. Therefore, although the Arbitrum chain is currently in a recovery phase, it still needs to wait until a large influx of liquidity, which will happen next year. Recently, the most attention should be given to the proposal to start ARB staking, initiated by the $PLS project-the main reason for this proposal is that the $PLS project did something stupid before, seriously derailing $plsARB. The current operation is essentially seeking the generosity of others, using the money from the $ABR treasury to anchor $plsARB. It is unknown whether this proposal will eventually be approved. If approved, it will be a short-term benefit for $ARB. However, the various governance disasters also indirectly indicate that Arbitrum has significant governance issues, which will affect the overall development of Arbitrum as a Layer2 solution in the long run.

Speculation possibilities: $plsARB $ARB

If staking is approved, it will be a short-term advantage for both $plsARB and $ARB.

3. Cosmos series

The four best performers in the Cosmos series should be Thorchain, Injective, Kujira, and Canto. Thorchain’s price rise comes from fundamental driving factors-you can check the data board provided by the official, and Thorchain’s recent data is very good. Since the price of $RUNE is closely related to its fundamentals, it is also the Cosmos series token that I am most optimistic about.

The rise of Kujira $KUJI and Injective $INJ seems somewhat absurd, indicating someone is causing trouble in the secondary market. However, although the price is not driven by fundamentals, the fundamentals of these two application chains are still good-Cosmos series outliers.

Let me briefly explain my understanding of $RUNE.

To understand the rise of $RUNE, you need to understand its mechanism. RUNE itself is a token that leverages volatility, and the more market volatility (mainly $BTC and $ETH), the more people go to arbitrage in Thorchain (which requires balancing BTC-RUNE and ETH-RUNE 1:1). As more people arbitrage, they support Thorchain’s trading volume, resulting in higher transaction fees and higher LP income (half of which is RUNE, and as RUNE rises, LP’s funds increase). LP TVL growth also means stronger buying pressure for RUNE (doing 1:1 LP and node buying of RUNE to protect LP), resulting in an upward movement of RUNE and higher volatility. This creates a cycle. In other words, as long as the volatility of BTC, ETH, and RUNE increases, RUNE will rise. Therefore, people in the market call it little $LUNA.

Canto has created enough anticipation in the market (Polygon migration and RWA), which is why it has been on an upward trend. However, its LP earnings are supported by $CANTO inflation, which is a risk.

Aside from that, TIA, in my personal opinion, is a good buy opportunity at a low point. I have staked my coins in different wallets.

Four, $FRONT

The reason I bought $FRONT is because they have developed a SelfChain. SelfChain has implemented many features such as modularity, no private keys, and Intent Layer1. Front is planning to switch to a new token, swapping FRONT for SELF, and there will be additional issuance. For me, $FRONT is a promising investment. The token swap is expected to happen this year.

Five, $DYDX

There are many discussions about staking $DYDX in the market, and some people have calculated the earnings. So, I will briefly talk about it here.

After v4, DYDX transformed from a pure governance token (mining token) into a real income token. DYDX v4 transaction fees will be entirely given to the Validators. Users can stake DYDX in Validators and receive a share of the transaction fees (100%) just like with ETH. Previously, DYDX was the largest decentralized derivatives exchange in the market. Let’s think about it and do the math: what could be the annualized gain from staking DYDX?

A guess: if it reaches a 30% annualized gain, will the unlocked DYDX in December be sold off?

DYDX is one of my favored potential investments, and I will consider increasing my position after the unlocking.

Six, BRC20

I hold positions in $SATS and $ORDI (short-term trading). Simply put, I’m bullish on them without any specific or complex logic. As leaders of the BTC ecosystem, with BTC ETFs and halving narratives becoming mainstream in the future, why not have optimism and hold these investments?

Seven, Gaming

For gaming-related content, I will discuss it on the @0xPixelPenguin account. Currently, I am deeply involved in LianGuairallel $PRIME and Pixels Online (previously detailed on that account). Pixels is a farming game, and I have bought NFTs. $PRIME continues to increase its spot positions. LianGuairallel, as a blockchain game strongly supported by LianGuairadigm and Coinbase, is currently in the testing phase and migrating to Base. There’s no reason not to be optimistic, it’s just not the right time for $PRIME yet.

As for $GHST, let’s not talk about it. It is a small position that has been stagnant.

Here are some other investments I am currently looking into:

One, Tableland Rigs

I started buying Tableland Rigs NFTs in mid-year. Additionally, the team will be attending and speaking at Istanbul — expecting the Tableland Rigs TGE, but the exact time is unknown. However, it’s bound to be soon, either this year or next year. It’s worth buying some Rigs to earn some FT reputation through flying and potentially receive airdrops in the future. This NFT is similar to Gala’s nodes, which were early funding methods.

I myself own Rigs NFTs.

2. $STG

The speculation surrounding $STG is that it will be listed on Upbit for trading in Korean won (someone said this before, keyword UDC), possibly between the 20th and 30th of this month. Additionally, there is the LayerZero airdrop, but personally, I believe that these things cannot be predicted, and relying solely on an empty promise for STG hype is not advisable. Upbit expectations are more reliable.

3. $LBR

I still have a bit of Lybra. It’s the only LSDFi Token I still hold. As for other LSDFi, I think it’s still worth participating (store E), but be cautious when buying tokens.

4. Solana

$SOL has been performing very strongly, and it has boosted the Solana ecosystem. I personally think that Jito, this Solana LSD, is worth participating in to earn some points.

5. Sui & Aptos

Sui’s TVL has already surpassed $100 million. There are many mining opportunities in the ecosystem, such as Cetus and NAVI. However, the driving force behind this TVL increase is actually the $SUI liquidity incentive provided by Sui. If you want to buy SUI, you should also pay attention to this selling pressure and not solely rely on the fundamentals. What’s more important is to watch the development of the Sui ecosystem.

Aptos TVL has also risen a lot. From my own conclusion, it is the people who unlocked their $APT and put it into the ecosystem. Perhaps they know something —APT may have a unlocking narrative.

6. Blur

An important event for Blur this month is November 20th, and the price has performed well. It is possible that the rebound of $BLUR is related to the recovery of the NFT market, oversold bounce, and unlocking expectations. Similar to APT, it is worth paying more attention to.

Finally, there are quite a few summits in November, and everyone is saying “buy the dip” during these events. So what I’m planning to do this month is to take profits diligently and buy on the pullbacks. The bull market has arrived, and I wish you all good fortune.

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