BTC Spread Widens
In other news, recent market moves have paused L1 season. With that said, ATOM and AVAX are holding quite well, up 84% and 82%, respectively, since the low on Sep. 7th. SOL is, surprisingly, the worst performing L1 over that time horizon, which is unexpected given the strength it had well into Sept.
If this was indeed a dip and not a dead cat bounce, as most of us hope, then it wouldn’t be surprising to see ATOM and AVAX continue to lead the L1 sector. Typically, coins that held up strongest during a correction see a commensurate amount of strength as they bounce. If you’re interested in reading more about what’s happening with ATOM and AVAX, check out our recent Institutional posts here – Cosmos and Avalanche.