In the crypto space, players typically focus on market cap and daily price movements. But for a fresh perspective, let’s instead look at the cumulative returns of some of the best altcoins this week.
Altcoins fight
Summary by Messari for the week ended March 3 revealed that LUNA was the week’s champion altcoin, up 40%.
“The Cosmos IBC chain has been in an uptrend for the past two weeks as the Cosmos ecosystem has received positive mass sentiment in recent weeks.”
In second place is DOT with a 13% yield compared to LUNA.
Naturally, investors are eagerly watching LUNA, the seventh largest coin by market cap at press time. They may also be wondering how it compares to DOT overall.
At the time of writing, DOT is trading at $17.04, down 5.4% over the past week. Meanwhile, LUNA was changing hands at $86.28, up 11.2% over the past week.
LUNA price (green) and DOT price (pink) | Source: mood
However, the weighted psychometric observations DOT and LUNA are not too different. While the weighted sentiment for the DOT is around -0.133, the LUNA is at 0.188. All in all, it looks like both DOT and LUNA investors are approaching the neutral zone.
Weighted tuning of DOT (blue) and LUNA (pink) | Source: mood
In terms of growth, DOT leads but is trending down while LUNA is trending up. However, there is still a large performance difference between the two networks, making it unlikely that LUNA DOT will outperform in this regard any time soon.
Development activities of LUNA (pink) and DOT (blue) | Source: mood
The demand is constantly increasing
While Polkadot gained market attention thanks to its parachain slot auctions, Terra also set its own milestone after surpassing Ethereum 2.0 in stake value.
The driving factor for this growth is the growing market demand for TerraUSD (UST).
Top 10 cryptocurrencies by stake value | Source: www.stakingrewards.com
After Polkadot founder Gavin Wood donated approximately $5.7 million in DOT to Ukraine’s official cryptocurrency address, how many different addresses will Ukrainian authorities need to create to get funds? As a result, Uniswap offered the opportunity to exchange its listed assets for ETH before donating.
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Minh Anh
According to AMBCrypto
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