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ATOM and SOL beat BTC returns over the past 2 weeks
- Monika Ghosh
- 2023-01-05
- 2383
- ETH
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Summary:Cosmos outperformed BTC by around 15% while Solana, which tanked by 55% in November, managed to beat BTC returns by around 8%.
Altcoin generally reflects the market price of Bitcoin (BTC), which is a digital currency with the largest total market value. However, Cosmos (ATOM) and Solana (SOL) have outperformed BTC in the past two weeks.
Glasssnode data shows that in the past two weeks, Cosmos has increased by nearly 15% compared with BTC. On the other hand, although there will be a sharp decline on December 29, 2022, SOL has defeated BTC by nearly 8% in the past 14 days.
The analysis of Glassnode chart shows that as of December 26, the return rate of Cosmos has been closely followed by the return rate of BTC. The next day, the return rate of ATOM gradually increased compared with BTC, and there was basically no fluctuation in the continuous increase. At the time of writing, the ATOM trading price was about US $10.09, up 9.52% in the previous week, and BTC fell 0.23%.
The price of SOL has dropped significantly since the beginning of November, mainly because of its relationship with FTX and its founder Sam Bankman Fried (SBF) - SBF and Alameda Research are the initial advocates of Solana. After FTX and Alameda Research declared bankruptcy, tokens lost about 55% of their value in November.
Solana Day fell again for most of December. The above Glassnode chart shows that, compared with BTC on December 29, the SOL price fell by more than 30%, to the bottom of about 8.26 dollars.
However, in the past five days, the SOL price has jumped to about$When writing this article, the CryptoSlate data was displayed in 13.02. Solana, get upeighteen point nine one%CryptoSlate data shows that in the past seven days.
ETH is the second largest digital currency calculated by market value, and has been closely followed by Bitcoin since December 21. In the past half month, ETH's return was slightly better than Bitcoin's. At the time of writing, the ETH trading price was about 1207.66 US dollars, down 0.11% last week.
BNB (BNB), Polygon (MATIC) and Polkadot (DOT) proposed similar returns - slightly lower than the returns of BTC in the past two weeks.
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