Breaking News
Investing Pro 0
Free Webinar - Crude Oil Trading 2023 | Thursday, February 9, 2023 | 01:00PM PST Enroll Now

Bitcoin, Ethereum Outperform S&P 500 Index by 4% in Seven Days

Cryptocurrency Sep 29, 2022 10:00AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters Bitcoin, Ethereum Outperform S&P 500 Index by 4% in Seven Days
 
BTC/USD
-1.48%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
ETH/USD
-1.15%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
UNIs/USD
-2.70%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 

  • Nasdaq, and the S&P 500 Index lost more than 4% in seven days.
  • The crypto market is on a relief rally after dropping by over 6% yesterday.
  • The iFinex ecosystem token depreciated significantly while the market recovered.

Major cryptocurrencies have outperformed the stock market indexes, according to data from TradingView. Under a seven-day scale, the tech-heavy Nasdaq and the S&P 500 Index have lost more than 4%. Meanwhile, Bitcoin (BTC) and Ethereum (ETH) have regained 2% and 4% repectively in the same period.

Seven-Day Performance: Bitcoin (Orange), Ether (Green), and S&P 500 (Blue)

Market analysts have identified several reasons as potential contributors to the outperformance of digital assets.

Mike Novogratz, the CEO of Galaxy Digital, speaking at a Bloomberg interview, said that he thinks cryptocurrencies are relatively more substantial than other assets because most weak hands already left the market during the summer. Furthermore, he said:

We’re in this weird equilibrium where there are a few buyers and a few sellers, and there’s not that energy in the market like you’re seeing in the equity market or the bond market where you have to sell, right?

Notably, the crypto market is on a relief rally after dropping by over 6% yesterday. The current global market cap is still below the one trillion dollar cap.

Of the top 20 cryptocurrencies, the best performing crypto in the last seven days is the utility token of the Uniswap protocol, UNI, gaining 9.16%. UNi currently trades at $6.30, with a 2.48% in the last 24 hours.

Meanwhile, the utility token across the iFinex ecosystem, UNUS SED LEO, badly depreciated while the market recovered in the seven days. It has shredded 12.68% of its value, currently trading at $4.15.

The post Bitcoin, Ethereum Outperform S&P 500 Index by 4% in Seven Days appeared first on Coin Edition.

See original on CoinEdition

Bitcoin, Ethereum Outperform S&P 500 Index by 4% in Seven Days
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.
  • Any comment you publish, together with your investing.com profile, will be public on investing.com and may be indexed and available through third party search engines, such as Google.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email