Solana
Bitcoin, Ethereum and Solana reign supreme in TradFi assets
Three major cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), and Solana (SOL), currently dominate traditional financial assets with exceptional annualized returns.
Bitcoin and its peers triumph over traditional assets
According to the latest monthly EXPonential Age Asset Management, EXPAAM update shared by Raoul Pal, co-founder and CEO of Real Vision on X, crypto assets have had an impressive performance.
Notably, these crypto assets based on annualized returns have triumphed over their traditional financial counterparts. Leading the pack is Bitcoin with a gain of 141% with a cumulative growth of 22,497,039%, Ethereum surged 152% with a cumulative growth of 404,384% and Solana increased by 224% with 10,836%.
Here is the monthly EXPAAM update on the annualized returns of all major assets.
Best major TradFi asset: NDX at +17% annualized
Top Crypto Assets:
BTC +141% annualized
ETH +152% annualized
SOL +224% annualized#DFTU pic.twitter.com/lptytw3LNW– Raoul Pal (@RaoulGMI) June 4, 2024
The EXPAAM Index, which features the best performing assets in eleven of the last fourteen years, reveals the US NASDAQ as the leading non-crypto asset with cumulative growth of 823% at 17% annualized. Gold is one of the bottom three assets with cumulative growth of 55% over the last 14 years and 3% annualized. The other two are US Cash (BIL) and Commodities (DBC) with the lowest yields.
The fundamentals of Bitcoin, Ethereum and Solana
Some analysts attribute this impressive performance to several key factors. First, the introduction of a spot Bitcoin ETF spurred significant inflows into the market. Since the launch of these products in the United States, total revenues have reached $31.86 billion. This figure excludes Grayscale’s GBTC outputs.
This remarkable performance can be explained by the fundraising attracted by
major ETF issuers such as BlackRock and loyalty.
Second, Ethereum recently received a boost from the Securities and Exchange Commission (SEC) via the approval of its spot ETF, further boosting its market appeal. Beyond the United States, the Ethereum spot ETF has been approved in other countries like Hong Kong. Even though Thailand has just approved Spot Bitcoin ETFspeculation is rife that Ethereum could be next.
Finally, Solana has seen explosive growth driven by the rise in popularity of memecoins within its ecosystem. Solana coins are very popular among cryptocurrency users for their consistent gains despite market volatility.
Some of the attractive Solana memecoins include coins like dogwifhat, BONK, Popcat and many others. These have helped propel the overall performance of the Solana network to ranking among the top three assets offering high annualized returns.
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