In November, standout cryptocurrencies SOL, AVAX, and DYDX have demonstrated remarkable performance, achieving double-digit gains and reaching new yearly highs.

The sustained bullish performance of these coins has led some analysts to proclaim the onset of an altcoin season.

The total market capitalisation of the altcoin sector has surged to $US659.5 billion for the year, with DYDX's success attributed, in part, to the launch of its layer-1 blockchain in October.

The decentralised exchange (DEX) offers futures contracts on Ethereum Virtual Machine (EVM) blockchains, facilitating on-chain distribution of fees to validators and stakers. This strategic move has spurred user activity, increased fees, and revenues, contributing to a remarkable 110% boost in DYDX token prices over the last 30 days.

Solana's SOL token has witnessed a 166% growth in its 30-day return profile, reaching its 2023 high on November 10.

The platform's burgeoning user base has brought revenue past $US1 million in 30 days, reflecting a 78.2% surge. Notably, the leading decentralised application (dApp) on the Solana blockchain, Jito, has played a significant role in this growth, driven by heightened user activity.

Avalanche's AVAX token has also shown strong performance in the recent period, with a 118% growth in 30 days.