ATOM and also SOL defeated BTC returns over the previous 2 weeks

Altcoins often mirror the price movements of Bitcoin (BTC), the largest cryptocurrency by market capitalization. However, Cosmos (ATOM) and Solana (SOL), over the past two weeks, managed to outperform BTC.Cosmos is up nearly 15% compared to BTC over the past two weeks, Glassnode data indicates. On the other hand, SOL beat BTC by almost 8%

Altcoins typically mirror the rate motions of Bitcoin(BTC), the biggest cryptocurrency by market capitalization. Universe (ATOM) and also Solana (SOL), over the previous 2 weeks, took care of to outmatch BTC.

Cosmos is up almost 15% contrasted to BTC over the previous 2 weeks, Glassnode information suggests. On the various other hand, SOL defeated BTC by virtually 8% over the past 14 days, in spite of seeing a considerable dip on Dec. 29, 2022.

Token returns vs BTC
Token returns vs. BTC. Resource: Glassnode

An evaluation of the Glassnode graph shows that Cosmos returns carefully complied with that of BTC up until 26 Dec. The adhering to day, ATOM returns started increasing contrasted to BTC and also experienced little volatility on its trip upwards. At the time of composing, ATOM was trading at around $1009– up 9.52% over the previous week, while BTC is down 0.23%.

SOL cost tanked substantially given that very early November, owing to its connections with FTX and also its creator Sam Bankman-Fried (SBF)– SBF and also his bush fund Alameda Research were very early backers of Solana. The token shed around 55% of its worth in November adhering to the personal bankruptcy declaring of FTX and also Alameda Research.

Solana proceeded its descent with a lot of December. The above Glassnode graph suggests that SOL rate decreased by greater than 30% contrasted to BTC on Dec. 29, striking a reduced of around $8.26

However, over the previous 5 days, the SOL rate leapt substantially to around $1302 at the time of composing, CryptoSlate information programs. Solana is up 1891% over the previous 7 days, according to CryptoSlate information.

Ethereum(ETH), the second-largest cryptocurrency by market cap, has actually carefully adhered to Bitcoin considering that Dec.21 Over the previous 2 weeks, ETH returns have actually been somewhat far better than Bitcoin’s. ETH was trading at around $1,20766 at the time of creating, down 0.11% over the previous week.

BNB(BNB), Polygon(MATIC), and also Polkadot(DOT) provided comparable returns– somewhat less than that of BTC over the previous 2 weeks.


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