• Solana has seen a 43% increase against Bitcoin since the start of 2023.
• Glassnode’s Native Token Returns vs. BTC highlights the relative price performance of large L1 native tokens versus bitcoin.
• Market capitalization groupings are defined as, Large Cap: >1B $, Mid Cap: 1B-100M $, Small Cap: 100M-50M $.
As 2021 continues to wrap up and we move into the new year, the cryptocurrency market has been enjoying a surge in growth and activity. This is particularly true for the large L1 native tokens like Solana, Binance Coin (BNB), Polkadot (DOT), Ethereum (ETH), and Matic Network (MATIC).
Solana is a high-performance blockchain network that provides quick and secure transactions. Since the start of 2023, Solana has seen a 43% increase against Bitcoin, and is continuing to soar. This makes it an attractive option for investors looking to diversify their portfolio.
Glassnode’s Native Token Returns vs. BTC highlights the relative price performance of large L1 native tokens versus bitcoin. According to their data, BNB is currently down 3% against Bitcoin since Jan. 4, while DOT and ETH are both up 4.8% and 2.2%, respectively. Matic Network has also seen an increase of 2.8%.
Market capitalization groupings are divided into three categories: Large Cap: >1B $, Mid Cap: 1B-100M $, and Small Cap: 100M-50M $. While in the last week since Jan. 10, all three of these groups have posted negative returns against Bitcoin. Large caps are down 5.5%, mid caps are down 0.27%, and small caps are down 4.36%.
Overall, the cryptocurrency market is continuing to grow and expand, with an increasing interest from both institutional and individual investors. This has led to a surge in the price of native tokens like Solana, which is up 43% against Bitcoin since the start of 2023. While other tokens like BNB, DOT, ETH, and Matic have also seen price increases, the market capitalization groupings have seen a slight decrease in the last week. Nevertheless, the overall trend of the market has been positive, and the future is looking bright for these native tokens.