Historical Snapshot - 21 November 2021

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The cryptocurrency market on 21 November 2021 offered a compelling glimpse into the digital asset landscape during a period of intense volatility and rapid innovation. Bitcoin had just crossed $58,000, Ethereum hovered near $4,300, and emerging layer-1 blockchains like Solana and Avalanche were gaining serious traction. This article dives deep into the top 20 cryptocurrencies by market capitalization on that date, analyzes performance trends, and explores what these figures reveal about investor sentiment and blockchain adoption at the time.

Top Cryptocurrencies by Market Cap: A Closer Look

1. Bitcoin (BTC) – The Digital Gold Standard

With a market cap of $1.11 trillion**, Bitcoin maintained its undisputed position as the leading cryptocurrency. Priced at **$58,730.48, BTC saw a slight dip of -1.62% over 24 hours and -10.29% over the past week. Despite short-term corrections, Bitcoin continued to be viewed as a long-term store of value amid growing institutional interest.

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2. Ethereum (ETH) – Powering the Decentralized Future

Ethereum followed with a market cap of $506 billion**, trading at **$4,269.73. It experienced a -3.18% drop in 24 hours but remained central to the DeFi and NFT ecosystems. Developers were actively preparing for the transition to Ethereum 2.0, fueling long-term optimism.

3. Binance Coin (BNB) – Utility Meets Growth

BNB held third place with a $97.6 billion** valuation. Its price stood at **$585.29, down -3.07% in one day. As the native token of Binance—one of the world’s largest exchanges—BNB powered trading fee discounts, staking rewards, and launchpad participation.

4. Tether (USDT) – Stability in Turbulent Times

As a stablecoin pegged to the U.S. dollar, USDT played a crucial role in liquidity provision across exchanges. With a market cap of $73.2 billion** and nearly **$69 billion in 24-hour volume, it was one of the most actively traded assets, offering traders a safe haven during market swings.

5. Solana (SOL) – The High-Performance Challenger

Solana surged with a +6.09% gain in 24 hours and a market cap of $70.3 billion. Despite recent network congestion concerns, its high throughput and low fees attracted developers building decentralized applications (dApps), NFT platforms, and DeFi protocols.

6–10: Mid-Tier Giants Holding Strong

Cardano (ADA) at $61.3 billion, XRP (**XRP**) at $50 billion, Polkadot (DOT) at $41.5 billion, USD Coin (**USDC**) at $38.4 billion, and Dogecoin (DOGE) at $29.9 billion rounded out the top 10. While most posted losses over the week, their strong fundamentals kept them firmly in investor portfolios.

Emerging Stars: AVAX, SHIB, and CRO Shine

Avalanche (AVAX) – Scaling New Heights

Avalanche ranked 11th with a $28.8 billion market cap and an impressive +34.80% weekly gain. Known for sub-second finality and custom blockchain creation via subnets, AVAX became a favorite among institutional-grade DeFi projects.

Shiba Inu (SHIB) – The Meme Token Phenomenon

Despite a -7.22% daily drop, SHIB maintained a staggering $24.3 billion market cap, driven by its massive community and upcoming ecosystem expansions like ShibaSwap and Shibarium.

Crypto.com Coin (CRO) – Rallying Amid Expansion

CRO stood out with a remarkable +25.92% daily increase and +66.34% weekly surge, reflecting growing adoption of Crypto.com’s card program, exchange services, and NFT marketplace.

Terra (LUNA), Litecoin (LTC), and WBTC: Mixed Signals

Terra (LUNA) held strong at $17.1 billion despite a weekly decline of -14.62%, backed by its algorithmic stablecoin UST and expanding DeFi ecosystem—though questions about sustainability were already emerging.

Litecoin (LTC) dropped -20.23% weekly, trading at $15.3 billion market cap, while Wrapped Bitcoin (**WBTC**) remained a key bridge between Bitcoin and Ethereum-based DeFi, valued at **$14.8 billion**.

Uniswap (UNI) and Chainlink (LINK) continued powering decentralized exchanges and oracle networks respectively, while Binance USD (BUSD) solidified its place among top stablecoins.

Algorand (ALGO) closed the top 20 with an $11.5 billion valuation, emphasizing scalability and carbon-neutral blockchain solutions.

Market Trends and Investor Sentiment

On 21 November 2021:

Despite pullbacks in major assets, innovation in DeFi, NFTs, and cross-chain interoperability drove long-term bullish sentiment.

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Frequently Asked Questions

What was the total cryptocurrency market capitalization on 21 November 2021?

The combined market cap of all cryptocurrencies was approximately $2.5 trillion, with Bitcoin and Ethereum accounting for over 60% of the total.

Why did Solana (SOL) perform well despite market declines?

Solana’s high-speed blockchain and growing ecosystem—including NFT mints and DeFi launches—fueled demand even during broader corrections.

Was Tether (USDT) really worth $73 billion if it's pegged to $1?

Yes—market cap reflects circulating supply multiplied by price. With over 73 billion USDT in circulation, each valued at ~$1, the total reaches ~$73 billion.

How is CRO up so much while other coins fall?

Crypto.com Coin’s rally was driven by product launches, exchange growth, and marketing campaigns that boosted utility and staking demand.

What role did stablecoins play in this market?

Stablecoins like USDT, USDC, and BUSD provided liquidity, enabled trading pairs, and served as safe havens during volatility—critical infrastructure for crypto markets.

Why are some supply figures marked with an asterisk (*)?

An asterisk typically indicates that the circulating supply is approximate or subject to change due to vesting schedules, token burns, or minting mechanisms.

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