The global cryptocurrency market saw a slight downturn during the week of November 13–19, 2023, with total market capitalization falling by approximately 1.78%, according to data compiled by ChainDD Research Institute. As of noon on November 19, the combined value of all digital assets stood at **$1.435 trillion**, down around $26 billion from the previous week. Despite heightened regulatory activity and ongoing project developments, investor sentiment remained cautious, contributing to a broad-based price correction across major cryptocurrencies.
This article provides an in-depth analysis of market movements, top cryptocurrency performance, sector distribution within the Top 30 coins, Bitcoin mining trends, key industry updates, funding rounds, regulatory developments, and upcoming events shaping the crypto landscape.
📉 Major Cryptocurrencies Experience Price Corrections
The week concluded with most leading digital assets posting losses, reflecting reduced market confidence and macroeconomic headwinds.
- Bitcoin (BTC) dipped from $37,114 to $36,533 — a decline of 1.57%
- Ethereum (ETH) fell more sharply, dropping from $2,054 to $1,957 — down 4.71%
- BNB decreased from $249.55 to $244.37 — a 2.08% loss
- Litecoin (LTC) dropped from $74.67 to $69.79 — shedding 6.54%
- Polkadot (DOT) declined from $5.53 to $5.29 — down 4.34%
- Solana (SOL) showed minimal movement, slipping just 0.24% from $58.39 to $58.25
👉 Discover how market volatility creates strategic entry opportunities for smart investors.
While Bitcoin maintained relative stability, altcoins were notably weaker, suggesting that speculative capital may be retreating ahead of critical regulatory decisions and macroeconomic data releases.
🔢 Top 30 Cryptocurrencies: Market Share and Sector Breakdown
Despite the broader market dip, the Top 30 cryptocurrencies by market cap demonstrated resilience, with their combined valuation decreasing only 0.25% week-on-week. These assets now represent 89.54% of the total crypto market cap — underscoring increasing centralization in the digital asset space.
Top 3 Market Leaders
- Bitcoin (BTC) – Market cap: ~$714.1 billion | Share of Top 30: 55.59% (+0.30% WoW)
- Ethereum (ETH) – Market cap: ~$235.4 billion | Share of Top 30: 18.32% (-0.09% WoW)
- Tether (USDT) – Market cap: ~$87.7 billion | Share of Top 30: 6.83% (-0.12% WoW)
Bitcoin’s dominance continued to strengthen, indicating a flight to safety amid uncertainty — a trend often observed during periods of market stress.
Sector Distribution in Top 30
- Public Blockchains: 76.17%
- Stablecoins: 9.18%
- Remaining sectors include platform tokens, DeFi protocols, and utility tokens
Public blockchains remain the backbone of the ecosystem, driven by innovation in scalability, interoperability, and decentralized applications (dApps). Ethereum's foundational role supports much of this growth, particularly in DeFi and NFTs.
⛏️ Bitcoin Mining Activity Remains Stable
Bitcoin mining dynamics showed little change during the reporting period:
- Total blocks mined: 1,028
- Empty blocks: 5 (0.49%)
- Average miner fee as percentage of block reward: 21.17%
- Top 10 mining pools controlled 97.48% of total hash rate
The stability in pool concentration suggests a mature and consolidated mining landscape, where efficiency and scale dominate operations. The relatively high fee ratio indicates consistent transaction demand on the network, even without major price spikes.
📰 Weekly Industry Highlights
Project Updates
- Starknet plans to launch version 0.13.0 on mainnet by January 22, 2024, enabling STRK token usage for transaction fees — a pivotal step toward full ecosystem integration.
- Aave Guardian reopened Aave V3 markets after resolving security concerns; Ethereum-based Aave V2 is also set to resume.
- Google search interest for terms like “Bitcoin” and “crypto” peaked in late October but has gradually declined into November — potentially signaling cooling retail interest.
Other notable developments:
- Tether CEO confirmed five new projects will join its ecosystem in 2024.
- a16z opened a new office in London, reinforcing its global Web3 expansion strategy.
- Raft protocol announced collaboration with law enforcement and centralized exchanges to identify attackers following a recent exploit.
👉 Stay ahead of protocol upgrades and ecosystem shifts with real-time analytics tools.
💼 Funding & Investment Trends
The Web3 and fintech sectors continued to attract institutional capital:
- Napier Finance, a yield management protocol in the Curve ecosystem, raised $1 million in a pre-seed round.
- Foresight Ventures acquired majority ownership of The Block at a $70 million valuation.
- Modhaus, a K-Pop Web3 company, secured $8 million in Series A funding led by Sfermion.
- Fnality, a tokenized financial infrastructure firm, closed a $95 million Series B round co-led by Goldman Sachs and BNP Paribas.
- Blockchain.com raised $110 million in an extended Series E round led by Kingsway Capital.
- Civitai, an AI-generated content platform, raised $5.1 million at a $20 million valuation with backing from a16z.
- Sora Ventures participated in Fhenix’s $7 million seed round focused on fully homomorphic encryption for blockchain privacy.
These investments highlight growing confidence in blockchain’s long-term utility beyond speculation — especially in finance, identity, entertainment, and privacy-preserving technologies.
🏛️ Regulatory Developments Worldwide
Regulatory scrutiny intensified globally:
- Australia: Mandatory cyber incident reporting will soon be required for regulated entities.
- Brazil: Unlicensed crypto exchanges can continue operating until formal regulations are published.
- Hong Kong: BitgetX.hk withdrew its Virtual Asset Service Provider (VASP) license application.
- Spain: Securities regulator hinted at investigating X (formerly Twitter) over unauthorized crypto ads.
- OECD: 48 member countries agreed to share cryptocurrency tax data to combat evasion.
- South Korea: Financial Supervisory Service formed a working group to establish listing/delisting guidelines for virtual assets by next year.
- European Central Bank: Its supervisory board chair called for stricter oversight of crypto assets.
These moves reflect a broader trend toward harmonized global regulation aimed at protecting consumers and ensuring financial stability.
🗓️ Upcoming Events: Investment Calendar (Nov 13–19)
Key dates that influenced market activity:
- Nov 13 (Mon): Bitcoin mining difficulty increased by 3.55% to 64.68T — the fifth consecutive rise since September 19.
- Nov 15 (Wed): China’s Ministry of Public Security warned against illegal trading or leasing of digital RMB wallets, emphasizing financial penalties.
- Nov 16 (Thu): New York Department of Financial Services released stricter rules for crypto listing and delisting procedures.
- Nov 17 (Fri): EigenLayer launched Phase 2 of its testnet, allowing rollups to use EigenDA as a data availability layer — a milestone for modular blockchain architecture.
- Nov 18 (Sat): Fidelity filed an application for a spot Ethereum ETF — reigniting hopes for regulatory approval in the U.S.
👉 Monitor live filings and on-chain signals before major market-moving events.
❓ Frequently Asked Questions (FAQ)
Q: Why did the crypto market fall despite positive developments?
A: While there were several bullish catalysts — including Fidelity’s ETH ETF filing and EigenLayer’s testnet upgrade — broader macro factors such as rising bond yields and strong U.S. economic data may have pressured risk assets, including cryptocurrencies.
Q: Is Bitcoin still dominant in the current market?
A: Yes. BTC’s share of the Top 30 market cap rose to 55.59%, showing increased investor preference for large-cap, low-volatility assets during uncertain times.
Q: What does the rise in miner fees indicate?
A: Higher miner fees relative to block rewards (21.17%) suggest sustained on-chain activity — whether from transactions, NFT mints, or smart contract interactions — indicating underlying network health.
Q: Are stablecoins losing relevance?
A: Not significantly. Though USDT’s share dipped slightly, stablecoins remain crucial for liquidity provision, trading pairs, and cross-border transfers — especially in emerging markets.
Q: How might upcoming regulations affect crypto prices?
A: Clearer regulations can boost institutional adoption by reducing legal ambiguity, but short-term compliance burdens may pressure smaller projects and exchanges.
Q: Was the drop in Google search volume significant?
A: A decline in search interest may signal reduced retail participation, which could limit near-term price momentum unless replaced by institutional inflows.
Core Keywords
cryptocurrency market cap, Bitcoin price analysis, Ethereum ETF application, crypto regulation 2025, blockchain funding news, Top 30 cryptocurrencies, Bitcoin mining difficulty, DeFi ecosystem updates