Although the correlation between the биржа жана Bitcoin (BTC) is often taken into account when analyzing the performance of the largest cryptocurrency, the second-ranked asset, Ethereum (ETH), is noticeably outperforming the Nasdaq index.
Бул болгондой, Ethereum has been outdoing the Nasdaq by around 20% since mid-July, during which period the stock market has been recording a sell-off, Мессаридики crypto analyst Tom Dunleavy окшогон October 17 боюнча.
According to Dunleavy:
“While stocks have sold off in the past 3 months, ETH has held up.”
Stock market’s poor performance
Чындыгында эле Финболд reported in August, Nasdaq was among the эң начар аткаруу indices in the first seven months of 2022, losing -20.80% YTD, with терминалдарда in the leading position with losing -48.6%.
Meanwhile, the total returns of the Nasdaq 100 index, representing the технология өнөр жай, 34.15% түшүп кетти year-to-date (YTD) in 2022, despite recording an annualized return of over 23% for the past 13 consecutive years.
That said, the Nasdaq Index posted its best daily return since July during the trading session on October 17, leading to көбөйүү Кампада келечеги соода that continued the next day after a volatile week, but leaving analysts unconvinced of the rally’s longevity.
Ethereum vs. real yields
Interestingly, Dunleavy also белгиленген that Ethereum was seeing an 88% correlation with real yields – the returns that салым earn from long-term government bonds after accounting for inflation, which have recently soared to their highest level since 2011, additionally eating away at the attractiveness of stocks.
Ethereum баасын талдоо
At press time, Ethereum was trading at $1,327, up 0.72% on the day, as well as 3.24% across the previous week, according to CoinMarketCap data retrieved by Finbold on October 18.
Over the past five weeks, the price of the decentralized finance (толугу менен) asset has been under increased pressure, seeing a decline of 25% due to shark and whale addresses dumping over $4 billion worth of ETH tokens ошол мезгил үчүн.
Disclaimer: Бул сайттагы мазмун инвестициялык кеңеш катары каралбашы керек. Инвестиция - бул спекулятивдүү. Инвестициялоодо сиздин капиталыңыз тобокелге салат.
Source: https://finbold.com/ethereum-outperforms-nasdaq-by-20-during-3-month-stock-sell-off/