Glassnode data showed that Cosmos gained almost 15% against BTC in the past two weeks. SOL, on the other hand, beat BTC by nearly 8% within the last 14 days, despite dropping significantly on December 29, 2022.
An analysis of the Glassnode chart indicated that Cosmos returns closely followed BTC until December 26. The next day, ATOM profits started to increase against BTC and there was little volatility on its ascent. At the time of writing, ATOM is trading at around $10.09 — up 9.52% over the past week, while BTC is down 0.23%.
The price of SOL has dropped significantly since early November, due to its relationship with the collapsed exchange FTX. The token lost about 55% of its value in November after FTX and Alameda Research filed for bankruptcy.
Solana continued to decline for most of December. The Glassnode chart indicated that SOL price fell more than 30% against BTC on December 29, hitting a low of around $8.26.
However, over the past five days, SOL price increased significantly, reaching highs of around $14, soaring nearly 19% on the day. On the weekly timeframe, the altcoin recorded a 21% return.
Ethereum (ETH), the second biggest cryptocurrency by market capitalization, has been closely trailing Bitcoin since December 21. Over the past two weeks, ETH’s returns have been slightly better than those of Bitcoin. ETH is trading at around $1,251 at press time, up 3% over the past week.
BNB (BNB), Polygon (MATIC), and Polkadot (DOT) have recorded similar returns — slightly below BTC in the past two weeks.
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