7 November 2026 edition — Halloween is over. The red remains.
The pumpkins have been put away, but the Crypto Race has yet to regain its colour. November opens under cold rain: of the fourteen assets tracked, ten fall this week, one stands still and only three advance. Long faces dominate the field.
After providing some of the action in recent editions, Osmosis suffers the sharpest reversal. Akash regains some momentum and strengthens its lead in Category 1. In the second category, LAVA delivers the strongest weekly rebound, while Gnosis uses its resilience to reclaim first place in the staking-inclusive standings.
Welcome to Red November.
Category 1: Osmosis slips, Akash keeps running
Last week, Osmosis was still standing out amid the red. This time, the slide is severe: −24.86% in seven days, with its price falling from $0.0519 to $0.039.
The decline wipes out the gains accumulated since the 17 October snapshot, when OSMO traded at $0.0419. It is a stark reminder of how fragile rebounds can be: several weeks of progress can disappear in just a few days. Since the start of the race, Osmosis is back to −25.98% without staking and −22.98% with staking.
At the other end of the standings, Akash gains 3.47% over the week. That rebound is modest compared with the declines suffered by some competitors, but it is enough to strengthen an already comfortable lead. AKT now stands at +52.85% since 3 January without staking, and +67.04% with staking. It remains the only asset in this category in positive territory under both scenarios.
Between these two trajectories, the field is struggling. Cosmos Hub loses 10.63%, Bittensor 6.49% and Avalanche 2.46%. Bitcoin falls 1.97%, while Ethereum limits its decline to 0.31%. Algorand finishes at exactly the same price as the previous week in our snapshots.
| Asset | Weekly change | Since inception, without staking | Since inception, with staking |
|---|---|---|---|
| Akash — AKT | +3.47% | +52.85% | +67.04% |
| Bittensor — TAO | −6.49% | −10.26% | −6.85% |
| Bitcoin — BTC | −1.97% | −15.92% | −15.25% |
| Algorand — ALGO | 0.00% | −24.91% | −21.36% |
| Osmosis — OSMO | −24.86% | −25.98% | −22.98% |
| Ethereum — ETH | −0.31% | −28.59% | −26.78% |
| Cosmos Hub — ATOM | −10.63% | −35.75% | −27.62% |
| Avalanche — AVAX | −2.46% | −39.68% | −37.13% |
Table ranked by performance since inception without staking.
Bitcoin remains the benchmark
Despite its weekly decline, Bitcoin retains third place in the category under both scenarios. Only Akash and Bittensor have outperformed it since the start.
That matters just as much as the colour of this week's price changes. Limiting losses for a few days is not enough to make up for the ground lost since January. Ethereum illustrates the point: almost unchanged this week, ETH remains at −28.59% without staking, compared with −15.92% for BTC.
Bittensor holds on to second place, but its performance remains negative: −10.26% without staking and −6.85% with staking. Its position in the standings therefore reflects relative resilience, rather than necessarily a gain for the simulated portfolio.
Category 2: LAVA rebounds, Gnosis reshuffles the standings
With a gain of 13.18%, LAVA delivers the strongest weekly performance across the entire Crypto Race. It is one of the few bright spots in this edition, but there is still a long way to go: its return since January remains at −89.50% without staking.
A double-digit rebound can catch the eye without changing the standings. LAVA remains last in its category under both scenarios.
The most decisive move takes place between Gnosis and Nolus. GNO rises 5.89%, while NLS falls 13.63%. The gap narrows dramatically: without staking, Nolus narrowly retains first place at −16.45%, compared with −16.75% for Gnosis.
Once simulated yields are included, the order reverses: Gnosis takes the lead at −13.23%, ahead of Nolus at −13.63%. The category therefore has two different leaders depending on the scenario.
| Asset | Weekly change | Since inception, without staking | Since inception, with staking |
|---|---|---|---|
| Nolus — NLS | −13.63% | −16.45% | −13.63% |
| Gnosis — GNO | +5.89% | −16.75% | −13.23% |
| Band — BAND | −8.00% | −47.77% | −38.96% |
| Flux — FLUX | −7.92% | −47.80% | −39.43% |
| Shentu — CTK | −8.29% | −68.71% | −60.00% |
| Lava — LAVA | +13.18% | −89.50% | −89.15% |
Table ranked by performance since inception without staking.
Behind this contest, BAND and FLUX post almost identical returns without staking, close to −48%. Shentu loses another 8.29% over the week, taking its decline since inception to 68.71% without staking.
No asset in this category reaches break-even, even after simulated yields are included.
Staking softens the drawdown without clearing the red
This edition once again shows why we track both scenarios.
For ATOM, simulated rewards reduce the loss from 35.75% to 27.62%. For BAND, it falls from 47.77% to 38.96%. The difference is substantial, but both positions remain well below their initial value.
For Akash, meanwhile, yield adds to the gains: the $1,000 invested at the start is now worth approximately $1,529 without staking, compared with $1,670 with staking.
Rewards increase the number of tokens held. Their final value, however, still depends on the price of those tokens. When prices fall sharply, that protection remains partial.
Red November: a few bright spots in a rain-soaked field
This week's three gainers tell three different stories. Akash strengthens its lead, Gnosis takes first place in its category with staking, and LAVA rebounds from a still deeply depressed level.
For the rest of the field, November begins on difficult ground. Osmosis's sharp decline dominates this edition, while the losses in Nolus and ATOM deepen the gloomy mood.
Halloween is over. The Crypto Race is still running through red rain.
Methodology
A simulated investment of USD 1,000 per asset on 3 January 2026, with no rebalancing. This edition uses snapshots dated 7 November 2026, compared with those from 31 October. Returns since inception cover 308 days.
The scenario without staking tracks prices only. The staking-inclusive scenario applies the simulation's reference APRs, prorated over the elapsed period without compounding: BTC 0.95%, ETH 3%, AVAX 5%, ALGO 5.6%, TAO 4.5%, ATOM 15%, OSMO 4.8%, AKT 11%, LAVA 4%, BAND 20%, FLUX 19%, CTK 33%, NLS 4% and GNO 5%. This shared label covers the yield assumptions used for the race; it does not imply that every asset uses the same native staking mechanism. The FLUX yield used here is not a node profitability calculation.
