The article provides an in-depth overview of the cryptocurrency market as of November 2025, analyzing the top 10 cryptocurrencies by market cap. It explores Bitcoin's dominance in the ecosystem, surpassing $108,000 per BTC, and Ethereum's significant position with $3,900 per ETH. The stablecoin sector highlights Tether's stronghold, while Horizen (ZEN) shows remarkable growth in trading activity. The piece addresses liquidity trends in decentralized exchanges, particularly ZenDEX, with institutions increasingly participating. It is tailored for investors seeking insights into market shifts and opportunities in the crypto sector. Key terms include Bitcoin, Ethereum, and decentralized exchange liquidity.
Top 10 cryptocurrencies by market cap in November 2025
The cryptocurrency market continues to evolve rapidly, with November 2025 showing significant shifts in market capitalization rankings. Bitcoin maintains its dominant position with a price exceeding $108,000 and commanding approximately 58.7% of the total market. Ethereum holds firmly in second place, trading near $3,900 with a market share of around 12.8%.
| Rank |
Cryptocurrency |
Market Cap (USD) |
Market Dominance |
Price (USD) |
| 1 |
Bitcoin (BTC) |
2.16T |
58.72% |
108,574 |
| 2 |
Ethereum (ETH) |
471.76B |
12.80% |
3,908 |
| 3 |
Tether (USDT) |
~183B |
~5% |
~1.00 |
| 4 |
BNB |
~120B |
~3.2% |
Variable |
| 5 |
Solana (SOL) |
103.55B |
2.81% |
189.36 |
The stablecoin market remains strong with Tether controlling approximately 60% of the stablecoin sector. USDC has gained institutional trust through compliance with the GENIUS Act regulatory framework, positioning itself firmly in the top ten. Notable movements include Solana's continued strength as a major Layer 1 alternative and increased institutional investment driving market sentiment. The cumulative net inflows into U.S. spot Bitcoin ETFs now exceed $61 billion, demonstrating growing institutional adoption. Horizen (ZEN) has shown remarkable growth with a 23% increase in 24 hours and over 103% in the past month, though it remains outside the top 100 by market capitalization.
24-hour trading volume exceeds $100 billion across major exchanges
Horizen (ZEN) has achieved an extraordinary milestone in the cryptocurrency trading ecosystem, with its 24-hour trading volume surpassing the $100 billion mark across major exchanges. This unprecedented volume surge represents a significant departure from typical trading patterns for mid-cap cryptocurrencies. The latest market data reveals that ZEN's trading activity has increased by approximately 118.44% within a single day, demonstrating exceptional market interest.
This trading volume phenomenon can be contextualized when examining ZEN's market metrics:
| Metric |
Value |
Change |
| Current Price |
$20.81 |
+23.16% (24h) |
| Market Cap |
$365.59 million |
Rank #124 |
| Volume/Market Cap Ratio |
1.72 |
Exceptional liquidity |
| 30-Day Price Change |
+103.17% |
Strong uptrend |
The substantial trading activity coincides with Horizen's migration to Base as an ERC-20 token, marking a strategic evolution in its ecosystem. This transition appears to have catalyzed institutional and retail interest alike. For context, the entire cryptocurrency market typically sees around $100 billion in daily trading volume across all assets combined, making ZEN's individual volume particularly remarkable.
The volume surge further validates Horizen's positioning as a privacy-focused blockchain solution with regulatory compliance features, attracting traders interested in the emerging confidential DeFi segment. Historical trading data suggests that such volume spikes often precede extended market movements and increased mainstream adoption.
Bitcoin dominance remains above 50% as altcoins struggle for market share
Bitcoin's market dominance has remained remarkably resilient throughout 2025, consistently staying above the crucial 50% threshold while altcoins struggle to capture significant market share. In July 2025, Bitcoin dominance peaked at an impressive 59.3%, demonstrating its continued strength as the cornerstone of the cryptocurrency ecosystem. This trend has persisted despite various market fluctuations, with dominance hovering around these high levels.
The market dynamics between Bitcoin and altcoins can be clearly observed in the following data:
| Period |
BTC Dominance |
Altcoin Market Share |
Key Movement |
| July 2025 |
59.3% |
40.7% |
Peak dominance |
| Aug 2025 |
Below 60% |
~28.6% (ETH-led) |
Strategic shift |
| Oct 2025 |
59% |
41% |
Continued strength |
| Late 2025 |
57.9% |
42.1% |
Slight altcoin recovery |
The persistence of Bitcoin's strong market position reflects both investor confidence and its role as a "safe haven" within the cryptocurrency space. When market uncertainty rises, capital naturally flows toward Bitcoin, reinforcing its dominance. Evidence of this pattern emerged when the altcoin market experienced significant volatility, prompting investors to seek refuge in Bitcoin's relative stability. This behavior mirrors traditional financial markets where investors retreat to established assets during turbulent periods.
DEX liquidity reaches new all-time high of $50 billion total value locked
The decentralized finance sector has witnessed an unprecedented surge in liquidity, with ZenDEX achieving a remarkable milestone in total value locked (TVL). According to recent data from DefiLlama, ZenDEX has accumulated $588.95 million in TVL, reflecting growing investor confidence in decentralized exchange platforms.
This significant achievement comes amid broader DeFi market growth, where the industry has expanded substantially compared to previous years:
| Year |
Total DeFi TVL |
Growth Rate |
| 2023 |
$54.4 billion |
Baseline |
| 2024 |
$129 billion |
137% YoY |
| 2025 |
$237 billion |
83.7% YoY |
ZenDEX's robust performance can be attributed to several key factors. The platform's integration with the Manta network has enhanced its technical capabilities, providing users with improved transaction speeds and lower fees. Additionally, the rising value of ZEN tokens, which saw a 70% daily increase to over $20, has further bolstered investor interest.
Institutional participation has emerged as a major driver behind this liquidity surge. As regulatory frameworks become clearer, traditional finance entities are increasingly allocating capital to decentralized exchanges. This trend is evidenced by the sharp rise in DeFi TVL from $86 billion in April to over $126 billion by July 2025, representing a 46% increase in just three months.
The platform's security features and innovative approach to decentralized trading have positioned it as a compelling alternative in the cryptocurrency marketplace, particularly for traders seeking privacy-oriented digital assets.
FAQ
What is the zen coin?
Zen coin (ZEN) is a privacy-focused cryptocurrency and L3 appchain built on Ethereum's infrastructure. It offers enhanced scalability and privacy features for blockchain applications, leveraging Base's technology as of 2025.
What is the future of zen coin?
Zen coin's future looks promising, with forecasts predicting a price increase to $27.49 by December 2025. Market analysis suggests a neutral outlook, based on various technical indicators.
What is the Donald Trump crypto coin?
The Donald Trump crypto coin, also known as $MAGA, is an Ethereum-based token that combines meme culture with Trump's brand. Created by anonymous developers, it predates the official TRUMP token launched in 2025.
Which coin will give 1000x?
Maxi Doge ($MAXI) is projected to offer 1000x potential. Litecoin and Cardano also show promise for significant value increase.
* The information is not intended to be and does not constitute financial advice or any other recommendation of any sort offered or endorsed by Gate.
