November 2024 in returns

November 2024 produced the single broadest advance in this entire record, and it was crypto that made it extraordinary. 79 of 80 coins finished green — 99% participation, a figure no other month approaches. Bitcoin rose 37.1%, Ethereum 47.0% and Solana 40.9%, but the majors were the modest part of it: Stellar gained 468.2%, Algorand 288.3%, XRP 282.9%, Hedera 267.3%, Cardano 215.7% and Sandbox 174.5%. Equities joined without hesitation — the Russell 2000 up 10.8%, the Dow 7.5%, the Nasdaq 6.2% — with 620 of 866 stocks (72%) higher and the VIX collapsing 41.7%.

The equity leaders were the same high-beta complex October had been accumulating, now paid off in full: Rocket Lab +154.9%, AppLovin +98.8%, Coinbase +65.2%, Palantir +61.4%, Robinhood +59.8%, MicroStrategy +58.5%. Almost nothing fell, and what did was defensive or foreign — Monolithic Power -25.2%, Bayer -21.8%, Moderna -20.8%. Whatever the trigger, the response was uniform rather than selective, which is what separates a repricing of risk appetite itself from a rotation between sectors. Months like this are exhilarating and rarely repeat; the hangover arrived immediately, and the coins that led here would spend most of 2025 giving it back.