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% over the past 14 days, despite seeing a significant dip on Dec. 29, 2022.
Token returns vs. BTC. Source: Glassnode
An analysis of the Glassnode chart indicates that Cosmos returns closely followed that of BTC until 26 Dec. The following day, ATOM returns began rising compared to BTC and experienced little volatility on its journey upwards. At the time of writing, ATOM was trading at around $10.09 — up 9.52% over the past week, while BTC is down 0.23%.
SOL price tanked significantly since early November, owing to its ties with FTX and its founder Sam Bankman-Fried (SBF) — SBF and his hedge fund Alameda Research were early backers of Solana. The to
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