Only Solana — the cryptocurrency among the tracked four that saw a positive monthly return of 5.59% — and gold had better risk-adjusted returns than bitcoin. btc sol
Despite seeing a 3.11% drop in value in September, bitcoin still outperformed both the S&P 500 and Nasdaq, the latest Cryptocompare report has shown. Ethereum, on the other hand, was named “the worst performer after the long-awaited Merge proved to be a ‘buy the rumour, sell the news’ event.” Increased tether and U.S. dollar trade volumes for bitcoin are said to suggest panicking investors were dumping depreciating currencies in favor of the cryptocurrency.
Ethereum, on the other hand, is identified in the report as “the worst performer [among four tracked cryptocurrencies], after the long-awaited Merge proved to be a ‘buy the rumour, sell the news’ event.” To support this assertion, the report points to the crypto asset’s contrasting fortunes in August and September. After seeing its best risk-adjusted returns in August,
still went on to have “the biggest decline” in September, the same month the Ethereum blockchain was switched to a proof-of-stake consensus mechanism.In terms of the different assets’ volatilities, the report said bitcoin was the “least volatile asset and the most dominant” among four cryptocurrencies that were tracked in the month of September.Volatility across cryptocurrency markets saw a slight increase in September amid the interest rates spikes and the unstable macro environment.
and SOL continued to be the most volatile assets, with 30-day volatility of 80.0% and 82.6% respectively. Bitcoin’s volatility rose 19.2% in September breaking a declining trend that started in June.
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