Solana soars 43% against Bitcoin so far in 2023

exchange68September 13, 2024

0 2 1 minute read

The L1 Native Token Returns vs. BTC highlights the relative price performance of large L1 native tokens versus bitcoin since Jan. 4.

Quick Take

Solana: +42.4% against BTC
BNB: -3.0% against BTC
DOT: +4.8% against BTC
ETH: +2.2% against BTC
Matic: +2.8% against BTC

Native Token Returns vs. BTC: (Source: Glassnode)

Definition: Market Capitalization Grouping vs. BTC

The Market Capitalization Grouping vs. BTC highlights the relative price performance of market capitalization size-based clusters versus bitcoin. Market capitalization groupings are defined as, Large Cap: >1B $, Mid Cap: 1B-100M $, Small Cap: 100M-50M $.

Quick Take

While in the last week since Jan. 10, large, mid, and small caps are all posting negative returns against Bitcoin.

Large Caps: -5.5%
Mid Cap: -0.27%
Small Cap: -4.36%

Marketcap grouping returns vs. BTC: (Source: Glassnode)

Analyst

James Van Straten

Former Lead Analyst at CryptoSlate

James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century’s paramount invention.

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