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Sol, Memes, BTC: Digital Assets That Currently Outperform the Market
While the overall crypto market remains down from its highs during the bull run of 2021 and 2022, there are several bright spots. Here, according to CoinDesk Indices, are the ones to watch.
Updated Nov 7, 2023, 4:15 p.m. Published Nov 7, 2023, 2:55 p.m.
In the wake of FTX and other scandals, crypto has been suffering through a winter of legendary coldness. But many traders now say the worst is over and that a new period of upward momentum is upon us.
Where might traders think of putting their money at the moment?
This post is part of Consensus Magazine's Trading Week, which is sponsored by CME.
For CoinDesk’s Trading Week, we asked our sister company, CoinDesk Indices, to do some analysis. Here are three areas that are currently seeing strong growth, compared to the CoinDesk Market Index (CMI), which measures performance across the entire market (or very close to it).
Solana Surges
Solana has experienced disproportionate gains compared to other major cryptocurrencies. Registering a 64% increase over the past month, SOL has outperformed Bitcoin's 25% rise and Ethereum's 8.4% gain. This latest rally brings SOL’s year-to-date gain to nearly 300%. However, Solana's position in the market remains complicated by the fact that a substantial chunk of SOL supply is locked in the FTX bankruptcy estate.
Awesome Oracles
Although the recent rally is felt across the asset class, with 156 of the 189 assets in the CoinDesk Market Index returning positively over the past month, some kinds of assets have outperformed others. The Computing Index, which contains protocols dedicated to decentralizing data sharing, storage, and transmission, stands out. This can be partially attributed to the outsized return of oracle networks, including ChainLink (up 47% month-on-month), Band Protocol (up 21% month-on-month), and Tellor (up more than 2x month-on-month). The surge in oracle platforms coincides with growing enthusiasm surrounding the tokenization of real-world assets.
Momentous Memes
Meme coins, which have been on a general downtrend for the past several months, saw a resurgence. On October 23, as optimism around the launch of a spot Bitcoin ETF, Bitcoin saw its highest returning day in 2023. Over the same time period, ELON and PEPE were among the top performing assets overall, gaining 23% and 20% respectively. That by far surpasses BTC’s 10% gain.
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What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
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