The global crypto market has turned around after a continuous loss. The new gains have brought significant value to it as its market capitalization has reached $1.78 trillion. Bitcoin and Ethereum see lower growth and major altcoins show mixed signals.
Altcoin traders need to be vigilant
Land [LUNA] was the altcoin champion of the week, according to Messari's report for the week ending March 3, with a 40 percent gain. According to Messari Insights,
"The Cosmos-based IBC chain has been trending upwards for the past two weeks as the Cosmos ecosystem has seen positive crowd sentiment for the past few weeks."
Moles [DOT] ranked second with a 13 percent return with reference to LUNA. Investors are naturally paying close attention to LUNA, which is currently the sixth most valuable cryptocurrency by market cap. They might also be curious about how it compares to DOT in terms of overall performance.
However, when we look at weighted sentiment, we can see that DOT and LUNA are not that far off. DOT had a weighted sentiment of -0.133, while LUNA had a weighted sentiment of 0.188.
In conclusion, it appears that both DOT and LUNA investors remain close to neutral.
DOT was trading at $17.40 at press time, down 7.18 percent from the previous week. LUNA, on the other hand, was changing hands at $86.21, up 16.41% in the last week.
DOT & LUNA development activity
When it comes to development activities, we can see that DOT is leading but on the decline, while LUNA is on the rise. However, because there is still a significant disparity in activity between the two networks, LUNA is unlikely to overtake DOT in this regard any time soon.
While Polkadot is making headlines for its parachain slot auctions, Terra has made its own history by outperforming Ethereum 2.0 in terms of value bet. Rising Market Demand for TerraUSD [UST] could be an aspect that drives the trend.
