ATOM and SOL beat BTC returns over the past 2 weeks

Altcoins often reflector the terms movements of Bitcoin (BTC), the largest cryptocurrency by marketplace capitalization. However, Cosmos (ATOM) and Solana (SOL), implicit the past 2 weeks, managed to outperform BTC.

Cosmos is up astir 15% compared to BTC implicit the past 2 weeks, Glassnode information indicates. On the different hand, SOL bushed BTC by astir 8% implicit the past 14 days, contempt seeing a important dip connected Dec. 29, 2022.

Token returns vs. BTC. Source: Glassnode

An investigation of the Glassnode illustration indicates that Cosmos returns intimately followed that of BTC until 26 Dec. The pursuing day, ATOM returns began rising compared to BTC and experienced small volatility connected its travel upwards. At the clip of writing, ATOM was trading astatine astir $10.09 — up 9.52% implicit the past week, portion BTC is down 0.23%.

SOL terms tanked importantly since aboriginal November, owing to its ties with FTX and its laminitis Sam Bankman-Fried (SBF) — SBF and his hedge money Alameda Research were aboriginal backers of Solana. The token lost astir 55% of its value successful November pursuing the bankruptcy filing of FTX and Alameda Research.

Solana continued its descent done astir of December. The supra Glassnode illustration indicates that SOL terms declined by much than 30% compared to BTC connected Dec. 29, hitting a debased of astir $8.26.

However, implicit the past 5 days, the SOL terms jumped considerably to astir $13.02 astatine the clip of writing, CryptoSlate information shows. Solana is up 18.91% implicit the past 7 days, according to CryptoSlate data.

Ethereum (ETH), the second-largest cryptocurrency by marketplace cap, has intimately followed Bitcoin since Dec. 21. Over the past 2 weeks, ETH returns person been somewhat amended than Bitcoin’s. ETH was trading astatine astir $1,207.66 astatine the clip of writing, down 0.11% implicit the past week.

BNB (BNB), Polygon (MATIC), and Polkadot (DOT) gave akin returns — somewhat little than that of BTC implicit the past 2 weeks.

The station ATOM and SOL bushed BTC returns implicit the past 2 weeks appeared archetypal connected CryptoSlate.