Solana soars 43% against Bitcoin so far in 2023

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)

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