It is true that the cryptocurrency market is an unpredictable space. When altcoins like LUNA, which are barely 2 years old, perform better than 4-7 year coins, it just underscores the aforementioned aspect of the markets. In fact, many of these altcoins have grown exponentially rather than incrementally.
LUNA beats ETC and BCH
LUNA is one of those cryptos. In the past month alone, LUNA has grown 375% from $ 5.8 to $ 27.8 at time of publication. Since its launch, altcoin has gained a solid 2.167%
Interestingly, in comparison, Ethereum Classic and Bitcoin Cash did not keep up with the alt market. Their rallies have not yet covered the losses observed over the past 2 months. While BCH won only 71%, ETC was up 73%.
Metrics tell the same story
The Sharpe Ratio emphasizes the degree of solid returns from an asset in relation to market movements. Currently, LUNA is skyrocketing with the indicator touching 10.0 today.
ETC and BCH are lagging behind, however, at 6 and 8 respectively.
Second, LUNA’s outstanding market capitalization is also greater than that of BCH and barely $ 1 billion behind ETC.
Additionally, the actual volumes of this new altcoin were $ 194 million higher than Bitcoin Cash’s $ 50 million and Ethereum Classic’s $ 60 million.
Another aspect where LUNA trumps these bigger altcoins is that LUNA is a trader’s coin. When traders mine a crypto market, prices can rise faster.
The opposite of this is reflected in BCH as it is primarily a HODLer coin. In fact, the average length of his detention was 3.3 years at the time of writing.
Finally, when it comes to the network, the news of Terra beating Polygon to become the third highest TVL blockchain (locked in worth $ 6.2 billion) also may have had an impact on the rally. by LUNA.
Even so, investors should remain vigilant before investing as the fear of DeFi hacks still hangs over Terra. This year alone, more than $ 361 million has been stolen from DeFi projects.