Despite the relatively tepid movement in the crypto market since Bitcoin reached a 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 been providing the best returns for some time.
Bitcoin, Ethereum and Solana outperform traditional assets
Raoul Palco-founder of Exponential Age Asset Management (EXPAAM), shared the crypto investment firm’s latest monthly update, showing annualized returns on all major assets.
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BitcoinEthereum and Solana outperformed traditional assets with annualized returns of 141%, 152% and 224%, respectively. For context, NDX, the best prime traditional assetpresents an annualized return of 17%.
![Bitcoin, Ethereum, Solana Over 150% YOY Gains Leave Stock Market, Gold in the Dust 1 Bitcoin](https://thegurumedia.com/wp-content/uploads/2024/06/Bitcoin_e080d1.png)
Thanks to this, these crypto assets have been the 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 post larger YTD (YTD) gains. Data from CoinMarketCap shows that Bitcoin, Ethereum, and Solana currently have year-to-date gains of more than 67%, 66%, and 70%, respectively.
On the other hand, gold, the best-performing non-crypto asset this year, has a year-to-date gain of 13%. NDX has a YTD gain of 10%, while SPY has posted a YTD gain of 11%. Interestingly, while the volatility While crypto assets have been criticized at times, this has largely contributed to why they have continued to outperform traditional assets.
Fidelity Investments Global Macro Director Jurrien Timmer previously highlighted as Bitcoin continued to record the best risk-reward since 2020. He also alluded to Bitcoin’s high volatility, stating that Bitcoin’s huge drops also brought big gains. The same can also be said about crypto tokens, especially considering that a token like Solana, which dropped to $10 in late 2021, is now trading above $170.
More upcoming gains 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 present a bullish outlook for these crypto tokens. One of them is the increase in demand for Spot Bitcoin ETFs. Data from Farside Investors showed that these funds recorded net inflows of US$886.6 million on June 4, their best day since March.
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Meanwhile, the Spot Ethereum ETFs should begin to be negotiated in July. Crypto analysts like Michael van de Poppe We predict these funds could trigger a significant recovery for Ethereum and other altcoins. ‘Solana Summer’ also appears to be on the horizon, with the crypto token showing signs of imminent parabolic upward trend.
At the time of writing, Bitcoin has surpassed the $70,000 resistance level and is trading around $71,000, an increase of nearly 3% in the last 24 hours, according to data from CoinMarketCap.
Featured image created with Dall.E, chart from Tradingview.com