The global cryptocurrency market had increased by $80 billion in October, with most of the top 100 cryptocurrencies by market capitalization experiencing a rise in price. Bitcoin (BTC)led the way, managing to seal its first green monthly candle since July, with the “Uptober” meme exceeding expectations.
In October, Bitcoin was the leading project on CoinMarketCap with the most search and interest activity. Shiba Inu (SHIB) came in second, while Cardano (ADA) took the third spot on the list of the top 15 cryptocurrencies by popularity, according to statistics published by CryptoDiffer on November 2.
However, ADA was one of the four tokens out of the top 15 that saw its price fall by as much as 7%. The price of Bitcoin increased by 6.49% during the last 30 days, while the price of Shiba Inu increased by almost 8%, profiting from the price rally of Dogecoin (DOGE).
Elsewhere, PancakeSwap (CAKE), Ethereum (ETH), and Dogecoin were placed fourth, fifth, and sixth correspondingly in terms of market capitalization. Revealed: Top 15 most popular cryptocurrencies in October. Source: CoinMarketCap Related Bitcoin’s continuation upward could be ‘triggered’ by sweeping the lows at this level BIS and multiple central banks to explore CBDC trading and settlement MetaMask adds NFTBank’s pricing engine to power NFT portfolio tracking
Notably, Dogecoins price changed in 30 days by 117.1%, the biggest increase out of all the coins across October. Interestingly, Phala, which has a market cap of just $110 million climbed 78.39% across the same period.
At the same time, GMX (GMX) and Gala (GALA), notably two other crypto tokens ranked in the top 15 most popular coins although they were not in the top 100 cryptocurrencies ranked by market capitalization. Analysis of the rankings
Given that Bitcoin is the flagship cryptocurrency with the largest market at $391.8 billion and a current price of $20,411, it comes as no surprise this was the most popular coin across the month.
Meanwhile, Dogecoins price was in the midst of a downward trend until Elon Musk backtracked and definitively announced that he would purchase Twitter (NYSE: TWTR). Thus many consider that the recent surge in the price of DOGE may be ascribed to the tokens potential use case on Twitter as a payment system, with the dog token reaching 1,000 DOGE-made millionaires after its price skyrocketed.
Other cryptocurrencies such as interoperability-based crypto project Quant (QNT) had been among the stand-out digital assets gaining significantly on a bullish run while also PancakeSwaps token has also seen CAKEs price rise at various points across the month.
Now in November, it will be interesting to see how much the popularity of the tokens changes over the course of the month. With Musk’s Twitter takeover still making headlines and Dogecoin’s price remaining volatile (currently down 7% on the day), while also being the most trending asset on the CoinMarketCap platform, it is expected that meme coins are expected toremain in the public eye for the short term.
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