After a series of losses, the global crypto market has changed direction. Market cap increased to $1.78 billion as a result of new acquisitions. Bitcoin and Ethereum are seeing slight gains, but major altcoin projects are showing mixed results. According to a March 3 report by renowned crypto research firm Messari, two altcoins could be considered for investment based on cumulative returns. As Kriptokoin.com, we are citing the highlights of the report..
Messari evaluated altcoin projects suitable for investment
Messari’s summary of the week ended March 3, the week’s altcoin champion Terra with 40% gain (LUNA) revealed. Part of the report states the following about the Cosmos ecosystem:
Cosmos-based IBC Blockchain has been trending upwards for the past two weeks
, as the Cosmos ecosystem has seen positive crowd sentiment in recent weeks, in second place with 13% reference to LUNA Returning Polkadot (DOT) took place.
Polkadot (DOT) is in second place with a 13% return over LUNA. Naturally, investors are keeping a close eye on LUNA, which is currently the sixth most valuable cryptocurrency by market cap. However, when we look at the weighted investor sentiment, it is seen that DOT and LUNA are not that far away. The DOT had a weighted sensitivity of -0.133, while the LUNA had a weighted sensitivity of 0.188. All in all, both DOT and LUNA traders appear to be neutral.
DOT is trading at $16.95, down 8.13% in the previous week. On the other hand, LUNA is hovering in the 85 region, up 11.41% last week.
Developer efficiencies of projects
When it comes to development activities, we can see that DOT is leading but declining while LUNA is on the rise. However, LUNA is not expected to pass the DOT on this matter anytime soon, as there is still significant disparity in activity between the two networks.
Polkadot made headlines for its parachain slot auctions, while Terra made its own history by surpassing Ethereum 2.0 for staking value. The market’s increasing demand for TerraUSD (UST) could be a factor driving the trend. In recent developments around Polkadot, after founder Gavin Wood donated approximately $5.8 million in DOT to Ukraine’s official crypto address, the question arose of how many different cryptocurrency addresses the Ukrainian government had to create to receive funding. To this end, Uniswap provided the ability to exchange listed cryptocurrencies for ETH before donation
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