Bitcoin, Ethereum, Solana Over 150% Annual Gains Leave The Stock Market, Gold In The Dust
Despite the relative tepid movement in the crypto market since
Bitcoin hit a new all-time high (ATH) in March, Bitcoin, Ethereum,
and Solana have continued to top traditional assets, including
Gold. This was highlighted in a recent report that showed how
crypto assets have provided the best returns for a while now.
Bitcoin, Ethereum, And Solana Outperform Traditional Assets Raoul
Pal, Co-Founder of Exponential Age Asset Management (EXPAAM),
shared the crypto investment firm’s latest monthly update, showing
annualized returns on all major assets. Related Reading: Dogecoin
Social Sentiment Turns Bearish And Drops To March Levels, What This
Means For Price Bitcoin, Ethereum, and Solana have topped
traditional assets with annualized returns of 141%, 152%, and 224%,
respectively. For context, NDX, the best major traditional asset,
boasts an annualized return of 17%. Thanks to this, these
crypto assets have been the best-performing assets in 11 of the
last 14 years. These digital assets also look on course to
outperform traditional assets again this year, as they boast higher
year-to-date (YTD) gains. Data from CoinMarketCap shows that
Bitcoin, Ethereum, and Solana currently have YTD gains of over 67%,
66% and 70%, respectively. On the other hand, Gold, the
best-performing non-crypto asset this year, has a YTD gain of 13%.
The NDX boasts a YTD gain of 10%, while the SPY has recorded a YTD
gain of 11%. Interestingly, while the volatility of crypto assets
has been criticized at times, this has largely contributed to why
they have continued outperforming traditional assets. The
Director of Global Macro at Fidelity Investments, Jurrien Timmer,
previously highlighted how Bitcoin has continued to record the best
risk-reward since 2020. He also alluded to Bitcoin’s high
volatility, stating that Bitcoin’s huge drawdowns have also come
with large gains. The same can also said about crypto tokens,
especially considering that a token like Solana, which dropped to
as low as $10 in late 2022, is now trading above $170. More
Gains Ahead For BTC, ETH, SOL Bitcoin, Ethereum, and Solana are
expected to record more YTD gains as the year progresses, given
that the crypto market is currently in a bull run. Recent
developments in the crypto market also paint a bullish outlook for
these crypto tokens. One is the increased demand for the Spot
Bitcoin ETFs. Data from Farside Investors showed that these funds
recorded net inflows of $886.6 million on June 4, their best day
since March. Related Reading: Crypto Pundit Shares
“Inevitable” Prices For Bitcoin And 5 Altcoins Meanwhile, the Spot
Ethereum ETFs are expected to begin trading by July. Crypto
analysts like Michael van de Poppe predict these funds could spark
a significant rally for Ethereum and other altcoins. ‘Solana
Summer’ also looks to be on the horizon, with the crypto token
showing signs of imminent parabolic upward trend. At the time
of writing, Bitcoin has broken above the $70,000 resistance level
and is trading at around $71,000, up almost 3% in the last 24
hours, according to data from CoinMarketCap. Featured image
created with Dall.E, chart from Tradingview.com
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