Solana News: Research firm Messari has released a report on the performance of 5 sectors in the crypto industry following the recent crash. The report, written by Roberto Talamas, determined that smart contracts (Solana, Cosmos, Polkadot, Kusama, and others) were among the least affected by this event.
The relentless selling pressure caused major cryptocurrencies to correct more than 50% down in mid-May. As Talamas points out, the smart contract industry has posted an overall 3.11% return on assets like Solana, DOT, ATOM, KSM, CKB.
Who was affected by the high volatility?
During the week, Talamas says a V-shaped pattern of the sectors examined indicates a potential recovery. However, DeFi and Web3 started to underperform at the end of the week and saw moderate losses.
Chainlink (LINK), Uniswap (UNI), and Aave (AAVE) were the worst performing assets in the Web3 and DeFi sectors, respectively. UNI and AAVE lost approximately 3.5% and 4.7%, and LINK 6% over the same period.
This indicates an increase in volatility. Talamas said:
“Volatility remains high across all industry portfolios after a surge triggered by the mid-May market crash. Before the crash, volatility across sectors was roughly the same, ranging from 3-6%. After the crash, industry volatility was widely dispersed and differentiated.”
Solana (SOL) is trading at $38.83 at the time of writing, with minor losses on the daily chart and 15.4% profit on the 7-narrow chart. The recovery of the SOL seems to indicate the highest belief and could quickly return to previous highs if the trend continues.
Along with the volatility, the correlation between Solana and all assets also increased. This metric means reaching 85% and 95% for certain pairs.