ATOM and SOL beat BTC returns over the past 2 weeks ATOM and SOL beat BTC returns over the past 2 weeks
Cosmos outperformed BTC by around 15% while Solana, which tanked by 55% in November, managed to beat BTC returns by around 8%.
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Updated: Apr. 28, 2023 at 5:55 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
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.
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 token lost around 55% of its value in November following the bankruptcy filing of FTX and Alameda Research.
Solana continued its descent through most of December. The above Glassnode chart indicates that SOL price declined by more than 30% compared to BTC on Dec. 29, hitting a low of around $8.26.
However, over the past five days, the SOL price jumped considerably to around $13.02 at the time of writing, CryptoSlate data shows. Solana is up 18.91% over the past seven days, according to CryptoSlate data.
Ethereum (ETH), the second-largest cryptocurrency by market cap, has closely followed Bitcoin since Dec. 21. Over the past two weeks, ETH returns have been slightly better than Bitcoin’s. ETH was trading at around $1,207.66 at the time of writing, down 0.11% over the past week.
BNB (BNB), Polygon (MATIC), and Polkadot (DOT) gave similar returns — slightly lower than that of BTC over the past two weeks.
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Author 
Monika Ghosh
In 2020, Monika immersed herself in crypto, maintaining skepticism yet firmly believing blockchain could address key issues like financial disparity and transparency. A book-lover, she's also a passionate food enthusiast.
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In this article
Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
Ethereum
$3,329.13
Ethereum is a decentralized, open-source blockchain platform that enables the creation of smart contracts and decentralized applications (DApps).
Cosmos
$8.51498
Cosmos is a blockchain ecosystem where thousands of dApps interoperate to create the foundation for a new token economy.
Solana
$244.839
Solana is a high-performance blockchain platform that utilizes a unique consensus algorithm called “Proof of History” to achieve fast transaction speeds and low fees.
Polygon
$0.53826
Polygon, a prominent layer 2 scaling solution on Ethereum, has emerged as a multifaceted and scalable platform, enhancing the Ethereum ecosystem’s capabilities.
Polkadot
$8.28065
Polkadot development is on track to deliver the most robust platform for security, scalability, and innovation.
FTX
FTX is a defunct cryptocurrency exchange, currently in bankruptcy proceedings, that was founded by Sam Bankman-Fried and Zixiao “Gary” Wang in May 2019.
Alameda Research
Alameda Research was once a principal trading firm, operating as an arm of the failed crypto exchange, FTX.