The profitability of crypto-assets in Q3 was significantly higher than securities and precious metals.
At the end of Q3, gold, bonds, and shares of tech companies brought their investors small losses, while most of the cryptocurrency assets showed significant profits. This is evidenced by the report of Kaiko analysts.
Tokens of DeFi projects were the most profitable, with ETH and DEX projects in second and third place. LDO of the Lido DAO project, an ETH 2.0 staking app, showed the highest profitability among the assets tracked by Kaiko. ETH closed the quarter with a return of over 20%. BTC, on the other hand, showed a slight drop in value in Q3.
The analysts especially emphasized that the BTC and gold correlation reached an annual high. Earlier, Coinbase Institute researchers have already drawn attention to the fact that cryptocurrencies, stocks, and commodities share a similar risk profile.
Discussions about the correlation between BTC and the stock market are heard throughout 2022. According to the experts, there’s evidence of interconnection between cryptocurrency assets and stock markets, both in the U.S. and Asia, where the connection between BTC yields and volatility has grown considerably.
