ATOM and SOL beat BTC returns over the past 2 weeks
Alternative coins usually reflect the market price of BTC, the largest digital currency by market capitalization. However, in the past half month, Cosmos (ATOM) and Solana (SOL) have outperformed BTC very well.
Compared with BTC, Cosmos has risen nearly 15 per cent in the past two weeks, according to Glassnode. On the other hand, although there was a sharp decline on December 29, 2022, SOL beat BTC by nearly 8 per cent in the past 14 years.
The analysis of the Glassnode chart shows that the return of Cosmos follows that of BTC, and until the next day, December 26, the return of ATOM is higher than that of BTC, and there are basically no ups and downs in the process of rising. At the time of writing, Atom traded at about $10.09, up 9.52% over the past week, while Bitcoin fell 0.23%.
SOL prices have fallen sharply since the beginning of November, mainly because of the company's relationship with FTX, and its founder Sam Bankman-Fry,SBF-SBF and derivatives Alameda Research were early proponents of Solana. Tokens lost about 55 per cent of their value in November after FTX and Alameda Research declared bankruptcy.
Solana fell again for most of December. The above Glassnode chart shows that SOL prices fell by more than 30% compared with BTC on December 29th, hitting a bottom point of about $8.26.
However, in the past five days, Sol's price has jumped sharply to around $13.02 at the time of writing, according to CryptoSlate. According to CryptoSlate, Solana has risen 18.91% in the past seven days.
ETH, the second largest digital currency by market capitalization, has been following Bitcoin since Dec. 21. Over the past two weeks, ETH has made slightly better returns than Bitcoin. At the time of writing, ETH traded at about $1207.66, down 0.11% in the past week.
BNB (BNB), Polygon (Ma Jiqi) and Polkadot (DOT) offer similar returns-slightly lower than BTC's returns over the past two weeks.
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