Despite the relatively tepid movement in the cryptocurrency market since bitcoin hit a bitcoin-breaks-through-69000-setting-new-record/” rel=”nofollow”>new all-time high (ATH) In March, bitcoin, ethereum, and Solana continued to lead traditional assets. including gold. This was highlighted in a recent report that showed how crypto assets have provided the best returns for some time now.
bitcoin, ethereum and Solana outperform traditional assets
Raul Palco-founder of Exponential Age Asset Management (EXPAAM), shared the crypto investment firm's latest monthly update, showing annualized returns for all major assets.
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bitcoinethereum and solarium have outperformed traditional assets with annualized returns of 141%, 152% and 224%, respectively. For context, NDX, the best specialty traditional assetIt has an annualized profitability of 17%.
Thanks to this, these crypto assets have been the bitcoin-as-one-of-the-best-performing-assets-report/” rel=”nofollow”>best performing assets in 11 of the last 14 years. These digital assets also appear to be on track 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 year-to-date gains of over 67%, 66%, and 70%, respectively.
On the other hand, gold, the best-performing non-crypto asset this year, is up 13% year-to-date. The NDX has a year-to-date gain of 10%, while the SPY has posted a year-to-date gain of 11%. Curiously, while the bitcoin-open-interest-overheat-brace-volatility/” rel=”nofollow”>volatility Cryptoassets have been criticized at times, which has largely contributed to them continuing to outperform traditional assets.
Fidelity Investments Global Macro Director Jurrien Timmer previously highlighted how bitcoin has continued to record the best risk-reward ratio since 2020. He also alluded to bitcoin's high volatility, stating that bitcoin's huge drops have also brought huge gains. The same can be said for crypto tokens, especially considering that a token like Solana, which fell to as low as $10 in late 2022, is now trading above $170.
More gains ahead for btc, eth, SOL
bitcoin, ethereum and Solana They are expected to post more year-to-date gains as the year progresses, given that the crypto market is currently in a bitcoin-bull-market-glassnode/” rel=”nofollow”>confinement. Recent developments in the cryptocurrency market also paint a bullish outlook for these crypto tokens. One is the increase in demand for bitcoin-spot-etfs-inflow/” rel=”nofollow”>bitcoin Spot ETF. x.com/FarsideUK/status/1798200115598934065″ rel=”nofollow”>Data from Farside Investors showed that these funds recorded net inflows of $886.6 million on June 4, their best day since March.
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Meanwhile, the ethereum-spot-etfs-trading/#:~:text=Bloomberg%20analyst%20James%20Seyffart%20has,approval%20would%20come%20this%20week.” rel=”nofollow”>ethereum Spot ETF They are expected to begin shipping in July. Cryptanalysts like ethereum-spot-etfs-trading/#:~:text=Bloomberg%20analyst%20James%20Seyffart%20has,approval%20would%20come%20this%20week.” rel=”nofollow”>michael van de poppe Predict that these funds could spark a significant rally for ethereum and other altcoins. The 'Solana Summer' also appears to be on the horizon, with the crypto token showing signs of an imminent parabolic uptrend.
At the time of writing, bitcoin has broken through the $70,000 resistance level and is trading around $71,000, up almost 3% in the last 24 hours, according to bitcoin/” rel=”nofollow”>data from CoinMarketCap.
Featured image created with Dall.E, chart from Tradingview.com
