Dogecoin ($DOGE) was the top performer in October among the 150 digital assets in the CoinDesk Market Index, with over a return over 100% for the month. _jocelynyang_ reports
. The cryptocurrency has benefited from fresh speculation following the Ethereum blockchain’s Merge last month, which shifted the network to a more energy-efficient “proof-of-stake” network. The change also drastically reduced the pace at which the blockchain is producing new tokens – implyingBitcoin’s return during the month was more muted, but bulls were enthused by its price jump above $20,000 for the first time in 18 days.
Talati attributed ETH’s outperformance over BTC to “market structure,” given that more traders had been betting against ETH than BTC – and not an indication of“anything fundamentally shifting.” “Bitcoin doesn't really have a strong narrative right now, whereas ETH still does have the Merge narrative,” she said.The insolvent crypto lending platform Celsius Network’s native token CEL lost 27%, amid reports that its former CEO, Alex MashinskyAnother big loser was Terra Luna Classic’s LUNC token, which also lost 31% during the month – potentially dashing hopes among traders who had hoped for a recovery following the network’s collapse in May.
LUNA, the native coin of the Terra 2.0 blockchain, the fork that emerged from Terra Classic, slid around 1% during the month. Its controversial co-founder, Do Kwon,
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