Here's how the crypto-market fared in November

Title: November 2023: A Month of Growth for the Crypto Market

November 2023: A Month of Growth for the Crypto Market

The Significance of bitcoin’s Rally

bitcoin [BTC] surged by over 10% in November, leading to speculation of a new crypto bull market. Reaching levels not seen since before the bear market, bitcoin was exchanging at $38,016 at the time of writing.

Institutional Interest in Cryptos on the Rise

Institutional investors took notice of the bullish momentum, as the total assets under management (AUM) for institutional crypto products climbed by 14.1% to $43.3 billion. This marks a significant increase since the start of 2023, with the AUM more than doubling.

Leading Investment Products Witness Rise in AUM

bitcoin-based investment products saw a 12.5% rise in AUM to $31.8 billion during November, while ethereum-based products saw an increase of 17.8% to over $8.55 billion. The growth in AUM for altcoin-linked products was also notable, with Solana [SOL] products nearly doubling to $424 million.

Grayscale Leads the Change

Grayscale Investments observed a 10.3% increase in its AUM to more than $30 billion, with market dominance reaching over 70%. Its most popular products, Grayscale bitcoin Trust (GBTC) and Grayscale ethereum Trust (ETHE), also experienced significant growth.

The Impact on Crypto Stocks

The positive momentum extended to crypto-related stocks, with Coinbase [COIN] leading the surge with a more than 55% increase in November.

The month of November 2023 saw substantial growth and resurgence in the crypto market, hinting at a potentially bullish future. As institutional interest continues to rise and leading investment products witness significant increases in AUM, the crypto market is poised for continued growth and development.

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