[비즈한국] We summarize and deliver the market status and trends of the top 100 major cryptocurrencies over the past week. We provide key information, including major developments in Bitcoin, Ethereum, and the altcoin market, as well as global policy variables. You can understand the volatile cryptocurrency market as easily and interestingly as watching Netflix.
According to CoinMarketCap, a global cryptocurrency market tracking site, Starknet (STRK) ranked first in the cryptocurrency market with a weekly gain of 64.39% from 7:00 on November 14 to 7:00 on November 21. Starknet is currently priced at 344 KRW, with a market capitalization of 1.5706 trillion KRW. Starknet is showing a remarkable upward trend, fueled by recent positive staking performance and the market's frenzy for privacy coins.
In second place is Zcash (ZEC), which recorded a weekly gain of 40.36%. Its current price is 1,031,613 KRW, and its market capitalization stands at 16.8368 trillion KRW. Zcash is a blockchain platform that emphasizes privacy features, and its recent rise is interpreted as being driven by increased interest in privacy and security.
Third place is Dash (DASH), which recorded a weekly gain of 20.89%. Its current price is 110,567 KRW, and its market capitalization is 1.3808 trillion KRW. Dash is also a major player in the privacy coin sector.
Pi Network (PI) took the fourth spot. It recorded a weekly gain of 14.34%, with a current price of 364 KRW and a market capitalization of 3.0321 trillion KRW. Pi Network is a platform that started with mobile mining and is gradually expanding its ecosystem.
Fifth place is MYX Finance (MYX), which recorded a weekly gain of 12.86%. The current price of MYX Finance is 3,750 KRW, and its market capitalization is 829.35207 billion KRW. It is gaining attention for providing user-friendly DeFi services.
During the same period, Fetch.ai (FET) recorded a weekly gain of 12.64%. It maintains a current price of 465 KRW and a market capitalization of 1.0982 trillion KRW. Next is Astar (ASTR), which recorded a weekly gain of 12.47%, with a current price of 1,768 KRW and a market capitalization of 4.1959 trillion KRW. Telcoin (TEL) saw a weekly gain of 4.61%, with a current price of 8.47 KRW and a market capitalization of 770.62585 billion KRW. UNUS SED LEO (LEO) recorded a weekly gain of 3.33%, with a current price of 13,964 KRW and a market capitalization of 12.8767 trillion KRW, while Hyperliquid (HYPE) rose 0.59%, with a current price of 56,037 KRW and a market capitalization of 18.8669 trillion KRW.
Even while the overall market was fluctuating, Starknet's rise was directly fueled by capital shifting into 'proven L2/ZK infrastructure' and a reduction in circulating supply due to large-scale lockups from the expansion of Bitcoin-based staking (BTCFi) programs. In addition, the upgrade of the S-two prover in early November significantly improved proof generation speed and fee efficiency, boosting expectations for network scalability. This, combined with technological narratives, joint buying by whales and retail investors, and the breakthrough of major resistance levels, led to a surge in price.
Zcash and Dash are recent beneficiaries of a clear rotation into the 'privacy coin sector.' For Zcash, the anticipation of a halving (reduction in issuance) scheduled for November created a supply shock narrative. Thanks to its regulation-friendly 'selective privacy' structure, it is evaluated as attracting more institutional demand compared to Monero. Features like Zashi and CrossPay, which enhance privacy payments and cross-chain capabilities, alongside public optimism from prominent traders, further pushed the rise. DASH also experienced accelerated price growth in the form of a 'short squeeze' as technical breakthroughs occurred amidst sector-wide momentum, triggering the liquidation of short positions and a surge in open interest (OI) in the derivatives market, ultimately highlighting it as a representative leader of the privacy coin rally.
The current atmosphere in the cryptocurrency market can be summarized as a typical 'risk-off + selective sector strength.' Since the October highs, Bitcoin and major altcoins have undergone a joint correction due to macroeconomic uncertainty, weakened expectations for Federal Reserve interest rate cuts, and concerns over a tech/AI bubble, driving the Fear & Greed Index down to a yearly low of 15 (Extreme Fear) and triggering large-scale leverage liquidations. However, even in this bearish market, 'theme rotation' is occurring, with capital rapidly moving into themes with clear fundamentals and events, such as privacy coins or ZK/L2. As a result, the market continues to show a trend where only sectors with confirmed narratives and performance are rebounding rather than a broad-based rally.
※ This article was written by BizHankook and MetaVX's generative AI.