Ethereum
Bitcoin, Ethereum and Solana Annual Gains of Over 150% Leave the Stock Market, Gold in the Dust — TradingView News
Despite the crypto market’s relatively tepid movement since Bitcoin hit a new all-time high (ATH) in March, Bitcoin, Ethereum, and Solana have continued to dominate traditional assets, including gold. This was highlighted in a recent report which showed how crypto assets have been offering the best returns for some time 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 across all major assets.
Bitcoin, Ethereum, and Solana outperformed traditional assets with annualized returns of 141%, 152%, and 224%, respectively. As a reminder, NDX, the best major traditional asset, has 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 appear poised to outperform traditional assets again this year, as they post 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, has seen a 13% year-to-date gain. The NDX is up 10% year-to-date, while the SPY is up 11% year-to-date. Interestingly, while the volatility of crypto assets has been criticized at times, this has largely helped explain why they have continued to outperform traditional assets.
Director of Global Macro at Fidelity Investments, 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 declines are are also accompanied by significant gains. The same can also be said about crypto tokens, especially since a token like Solana, which fell to $10 in late 2022, is now trading above $170.
More gains coming for BTC, ETH, SOL
Bitcoin, Ethereum, and Solana are expected to post more year-to-date gains as the year goes on, given that the crypto market is currently in a bullish period. Recent developments in the crypto market also provide an optimistic outlook for these crypto tokens. One of them is the increased demand for Spot Bitcoin ETFs. Data from Farside Investors showed these funds saw net inflows of $886.6 million on June 4, their best day since March.
Meanwhile, Spot Ethereum ETFs are expected to begin trading by July. Crypto analysts like Michael van de Poppe predict that these funds could spark a significant rally for Ethereum and other altcoins. “Solana Summer” also appears to be on the horizon, with the crypto token showing signs of an impending parabolic uptrend.
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 past 24 hours, according to data from CoinMarketCap.