Unpacking November 2020’s Top Cryptocurrency Sleeping Giants: A Deep Dive
Are you constantly searching for the next big opportunity in the fast-paced world of digital assets? As the accompanying video highlights, November 2020 presented some compelling developments for a selection of what many consider to be “sleeping giant cryptocurrencies.” This period was particularly dynamic, showcasing significant advancements and shifts within the blockchain landscape. Understanding these movements is crucial for anyone keen on staying ahead in the crypto market.
This supplementary article aims to expand upon the insights shared in the video, providing a more detailed analysis of the projects discussed. We will delve deeper into the technical implications, market potential, and broader industry context surrounding these top cryptocurrencies. By examining the data and events from that pivotal month, investors can better appreciate the evolving narratives that continue to shape the decentralized future.
Bitcoin: The Shifting Sands of Perception
Historically, prominent economists like Peter Schiff, Paul Krugman, and Nouriel Roubini have consistently expressed skepticism regarding Bitcoin’s long-term viability. These “Bitcoin bears” often argued against its classification as a legitimate currency or store of value. However, the narrative began to noticeably shift, especially during November 2020, as mainstream adoption continued its upward trajectory. This period marked a significant turning point in how leading figures viewed the digital asset.
Intriguingly, Nouriel Roubini, a long-time vocal critic, notably conceded that Bitcoin might indeed function as a “partial store of value.” This acknowledgment, captured in the video, represented a considerable capitulation from one of its most ardent detractors. Such shifts in expert opinion underscore Bitcoin’s growing resilience and its increasing acceptance within traditional financial discourse. The recognition of Bitcoin’s scarcity, governed by a pre-defined algorithm, distinguishes it from many other digital assets where supply mechanisms are less transparent. This fundamental difference contributed to Roubini’s revised perspective, despite his continued skepticism about other altcoins. The ongoing institutional interest in Bitcoin further solidifies its position as a digital alternative to traditional safe-haven assets like gold, even if it is not yet widely used as a direct medium of exchange.
Cardano (ADA): Binance’s Strategic Stake and Decentralization Debates
Cardano emerged as a significant player during November 2020, drawing attention due to the strategic involvement of major exchanges. The video specifically mentions that Binance, recognized as one of the world’s largest cryptocurrency exchanges by trading volume, appeared to be accumulating substantial influence within the Cardano network. Information gathered from Daedalus wallets indicated Binance’s likely control over approximately 18 stake pools on the Cardano blockchain. This move by such a dominant entity naturally sparked considerable discussion and analysis within the community.
The decision by Binance to operate numerous stake pools on Cardano raised a dual-edged sword of opinion. On one hand, some members of the Cardano community viewed this as a positive endorsement, signaling significant institutional confidence in the project’s future. The involvement of a major exchange like Binance can often lead to increased liquidity and visibility for a cryptocurrency. On the other hand, a substantial segment expressed concerns about the potential implications for decentralization, a core tenet of blockchain technology. The worry was that if a single entity controls a large number of stake pools, it could compromise the distributed nature of the network over time. Ensuring that a blockchain remains truly decentralized requires a broad distribution of staking power, preventing any one actor from gaining undue influence over network operations. This delicate balance between attracting large players and maintaining decentralization remains a critical challenge for growing blockchain ecosystems.
Ethereum (ETH): The Eth2 Staking Milestone
Ethereum, a colossal force in the cryptocurrency space, commanded significant attention during November 2020 with the impending launch of Eth2. This transformative upgrade, also known as Serenity, promised a monumental shift from a Proof-of-Work (PoW) consensus mechanism to a more energy-efficient Proof-of-Stake (PoS) system. The success of this transition hinged on meeting specific staking requirements within the Eth2 deposit contract. The community eagerly watched as the necessary Ether (ETH) flowed into this contract.
As of the update in November 2020, 48,864 ETH had been officially deposited into the Eth2 contract. This figure represented approximately 9.3% of the total 524,288 ETH required to trigger the launch of Eth2, initially scheduled for December 1st. Achieving this threshold was analogous to Bitcoin’s halving events in terms of its perceived impact and importance for the network. Staking ETH offers participants the opportunity to earn rewards for helping secure the network, while simultaneously supporting the transition to a more scalable and sustainable blockchain. The successful shift to Eth2 was expected to significantly enhance Ethereum’s capacity, reduce transaction fees, and cement its position as a leading platform for decentralized applications (dApps) and decentralized finance (DeFi). The ongoing progress towards Eth2 continues to be a central theme for Ethereum’s development and future trajectory.
Ripple (XRP): Global Expansion Amidst Regulatory Uncertainty
Ripple, the blockchain-based digital payment network, embarked on a strategic global restructuring during November 2020. This period saw the company actively seeking a more favorable regulatory environment outside the United States. The initial catalyst for this exploration was the perceived lack of regulatory clarity within the US, which created operational challenges for the San Francisco-based fintech firm. This uncertainty compelled Ripple to consider new global headquarters, signaling a proactive approach to managing regulatory landscapes.
As part of its international expansion, Ripple established a new regional office in the Dubai International Financial Centre (DIFC). This strategic move placed Ripple within a bustling financial hub known for its progressive regulatory framework and strong support for innovation. Navin Gupta, the Managing Director for South Asia at Ripple, explicitly stated that the firm’s extensive client base across the Middle East and North Africa (MENA) region made Dubai an ideal choice for this regional base. The DIFC hosts over 100 cafes, three hotels, and several art galleries, illustrating its vibrant ecosystem. While Dubai became a new regional hub, Ripple continued its search for a permanent global headquarters, underscoring its commitment to global operations and its agility in navigating diverse legal and economic conditions. This expansion was vital for Ripple’s mission to facilitate faster, more cost-effective cross-border payments.
Energy Web Token (EWT): Powering Sustainable Blockchain Initiatives
The Energy Web Token (EWT) made significant strides in November 2020 through a pivotal partnership with the InterWork Alliance (IWA). This collaboration marked a crucial step in advancing blockchain standards within the energy sector and beyond. The IWA functions as a platform-neutral, non-profit organization dedicated to developing standardized frameworks, which are essential for fostering innovation across token-enabled ecosystems. This partnership aimed to streamline the integration of blockchain technology into various industrial applications.
As a member of the IWA, Energy Web committed to collaborating with a global consortium of organizations. Their joint efforts focused on establishing standards for building robust distributed applications, including protocols for tokenizing various assets and executing contracts over those tokens. A key area of focus for Energy Web was its involvement in IWA’s Sustainability Business Working Group, which addresses critical issues like carbon emissions. Energy Web’s Decentralized Operating System (EW-DOS), powered by the Energy Web Chain and its native EWT utility token, plays a central role in this mission. Furthermore, its software development toolkits, such as EW Origin, facilitate multi-token approaches for managing fungible and non-fungible digital assets. These assets include Energy Attribute Certificates (EACs), which serve as verified proof of renewable energy purchase. Jesse Morris, CCO of Energy Web, emphasized that the energy sector interfaces with many adjacent industries, from telecom to finance. Therefore, membership in the InterWork Alliance provides a vital pathway for creating interoperable solutions that contribute to a larger, more integrated sustainable future. This synergy between blockchain and renewable energy presents a powerful solution for environmental challenges.
VeChain (VET): Enhancing Supply Chain Integrity in the US
VeChain continued to demonstrate its real-world utility in November 2020 with a notable adoption in the United States. Health Evolution, a US-based company, announced its implementation of a supplement safety solution, powered by Real Items and VeChain blockchain technology. This initiative directly addressed a pervasive problem within the dietary supplement industry: fraud and lack of transparency. With over 170 million Americans, or 71% of US adults, reporting regular consumption of dietary supplements, the issue of product authenticity is critically important. Reports from entities like the New York State Attorney General’s office highlight the widespread nature of supplement fraud.
VeChain’s blockchain-based solution, in conjunction with Real Items and the VeChain NFT (Non-Fungible Token) standard, offered a powerful remedy. Consumers gained the ability to verify the origin, authenticity, quantity, and even the effectiveness of their supplements through immutable blockchain records. The use of smart contracts within the VeChain ecosystem makes it virtually impossible for items to be fraudulently represented. This application of NFTs for physical product authentication represents a significant step forward in consumer protection and supply chain transparency. The adoption by a US company also underscored VeChain’s growing global reach and its ability to provide practical, verifiable solutions across diverse industries, moving beyond its traditional strongholds. The potential for similar applications in other sectors susceptible to counterfeiting, such as luxury goods and pharmaceuticals, remains immense.
Chainlink (LINK): Empowering Smart Contracts with Real-World Data
Chainlink, a foundational oracle network, continued to expand its ecosystem through strategic integrations in November 2020. A significant development was the partnership with PARSIQ, a cryptocurrency project that enabled the use of Chainlink Price Feeds as “Smart-Triggers.” This integration greatly enhanced the functionality of both platforms, bringing real-world data directly onto blockchain smart contracts. Oracles are essential middleware, connecting blockchains to off-chain data and systems, thereby expanding the capabilities of decentralized applications.
The PARSIQ platform operates as an off-chain automation solution, allowing users and enterprises to monitor blockchain data and automate workflows within their personal off-chain applications. For instance, users can configure PARSIQ to receive alerts via Telegram when specific blockchain activities occur or to log notable events for record-keeping purposes. By integrating Chainlink’s reliable and tamper-proof price feed oracles, PARSIQ users gained access to high-quality, real-time market data. This capability allows for the creation of more sophisticated and responsive automated triggers, essential for a myriad of DeFi and enterprise applications. For example, a smart contract could automatically execute a trade if the price of a certain asset, verified by Chainlink, crosses a predefined threshold. This symbiotic relationship between Chainlink’s robust data infrastructure and PARSIQ’s automation capabilities exemplifies the increasing sophistication and interconnectedness of the blockchain ecosystem.
TrustSwap carved out a niche in the burgeoning decentralized finance (DeFi) landscape, and November 2020 highlighted its role as a key launchpad for new projects. The video specifically mentioned a significant event: Coin, a US-based FinTech startup founded by former Microsoft alumni, chose TrustSwap for its November Liquidity Token Offering (LTO). This collaboration brought considerable attention to TrustSwap’s platform and its capabilities in supporting new token launches. The LTO was scheduled for November 19th, 2020, at 9:00 AM PST, generating anticipation among investors.
The decision by experienced professionals, particularly those with high-level backgrounds at Microsoft, to launch their project on TrustSwap was a strong endorsement of the platform’s reliability and appeal. Coin positioned itself as a decentralized exchange (DEX), drawing comparisons to established platforms like Uniswap and Kyber Network. What set Coin apart, however, was its incorporation of artificial intelligence (AI) and atomic swaps, aiming to provide a more advanced trading experience. Coin’s offerings, including non-custodial operations and anonymous trading without Know Your Customer (KYC) requirements, highlighted its commitment to user autonomy and privacy. TrustSwap’s role in facilitating such innovative projects underscores its growing importance in enabling secure and efficient decentralized fundraising, providing a launchpad for the next generation of crypto ventures. This focus on cutting-edge features positions Coin as a potential disruptor in the DEX market.
Enjin (ENJ): The Ascendance of NFTs
Enjin continued to solidify its position at the forefront of the Non-Fungible Token (NFT) revolution during November 2020. The impending close of nominations for the 2020 NFT Awards on November 13th brought significant attention to the burgeoning NFT ecosystem and the platforms supporting its growth. NFTs were clearly emerging as a hot trend, poised for even greater mainstream adoption in the subsequent year. These unique digital assets represent ownership of specific items, whether they are art, collectibles, in-game items, or other forms of digital media, and are recorded on a blockchain.
The video highlighted several popular NFT nominations, including Crypto Stamp and Pop Star from Job Tribes, showcasing the diverse applications and appeal of non-fungible tokens. These examples demonstrated the growing public interest in digital ownership and verifiable scarcity. Enjin’s robust platform and tools were instrumental in allowing creators and developers to mint, manage, and integrate NFTs into various applications, particularly within the gaming sector. The discussion surrounding “which platforms are being used to launch these NFTs” underscored the critical infrastructure Enjin provides. From educational NFTs like “Mastering EOS NFT” to various digital collectibles, Enjin’s ecosystem facilitated the creation and exchange of these unique digital assets. The mainstream potential of NFTs, often referred to as a “sleeping giant” in their own right, was becoming increasingly evident during this period, promising to reshape how we perceive and interact with digital property.
