In November 2025, the cryptocurrency market experienced one of the most nervous months in the entire post-ETF era. After Bitcoin hit a historic high of around $126,000 in October, November saw a sharp correction: over the last 30 days, BTC has fallen by approximately 20-22% and rolled back more than 30% from its peak, according to data from Coinglass and market reports.
Against this backdrop, most altcoins experienced a real “bubble compression” — many lost more than 50% in a month. But even in such a market, there were assets that either grew or fell significantly less than others.
Below is an overview of who were the conditional “winners” of November and who ended up at the top of the anti-rating. These are not investment recommendations, but an analysis of trends and risks.
The market as a whole: correction after overheating
Bitcoin – a monthly decline of about 20–22%, more than 30% down from its historic high of approximately $126,000.
Ether and large altcoins fell even more sharply, in the range of 25–40% per month.
According to analysts’ estimates, hundreds of billions of dollars in market capitalization evaporated in November after a very aggressive rally in 2024–early 2025.
Triggers for the correction: profit-taking after record highs, forced liquidation of leveraged positions, cooling interest in high-risk altcoins, and weak macro statistics.
Important: when the entire market is falling, “the best” in most cases means either real growth or minimal losses amid an overall decline.
1. Zcash (ZEC) – explosive growth amid demand for privacy
One of the most striking episodes of November was the surge in the price of Zcash. According to industry reviews, ZEC jumped by approximately 200–250% in November as hype surrounding privacy and anonymous transactions grew.
At the same time, the CoinLore aggregator shows Zcash as one of the best assets of 2025 in terms of total return: the ROI of the L1 sector is estimated at an average of +164% for 2025, and ZEC is among the leaders in this segment.
2. “Defensive” tokens and gold on the blockchain
In times of turbulence, part of the capital traditionally goes to more “solid” stories. Among them, tokens pegged to gold stand out in 2025:
• Tether Gold (XAUT)
• PAX Gold (PAXG)
According to CoinLore, their combined ROI for 2025 exceeds 50% (about +57% since the beginning of the year), reflecting the trend toward the tokenization of real assets (RWA).
In November, these instruments behaved significantly more stable than most altcoins, serving as a “parking lot” for capital for some investors amid volatility.
3. Large infrastructure coins: falling, but holding up better than small ones
According to CoinLore’s table of the best coins of 2025, large infrastructure tokens are still showing positive results for the year, despite the November slump:
• BNB – about +26% ROI for 2025,
• Bitcoin Cash (BCH) – about +23%,
• TRON (TRX) – almost +9%,
• XRP – about +1%.
In November, they all correlated with the market and declined, but the volume of liquidity and the fundamental load of the networks (exchange business, stablecoins, payment transactions) allowed them to survive the month much more smoothly than micro-cap projects.
November 2025 once again highlighted several simple but unpleasant facts about the cryptocurrency market:
– coins outside the top ten by capitalization can lose 60-97% in a single month even without high-profile hacks,
– the high returns of 2025 for a number of assets are accompanied by terrible intraday volatility,
– DeFi, NFT, and GameFi remain the segments most sensitive to liquidity outflows.
– Tokens with real business models and high usage (exchange coins, L1 infrastructure, tokenized gold) weathered the storm better on average, although they did not escape the downturn either.
For those who follow the market, November can be seen as a stress test for the current cycle. For those who view crypto assets as investments, it is a reminder: without diversification, understanding of risks, and readiness for sharp declines, there is nothing to be done here.
Source: https://www.fixygen.ua/news/20251201/krashchi-kriptovalyuti-listopada-vid-fixygen.html
