This makes Ethereum a strong contender among top stocks

This makes Ethereum a strong contender among top stocks

Bitcoin has been compared to stocks for quite some time and next in line to garner attention as a top traded asset is Ethereum. Crypto supporters have advocated the fact that cryptocurrencies provide much better returns  compared to stocks. How much truth the notion held, was largely debated. Nonetheless, recently, Nasdaq cited Ethereum as a top tradable asset alongside companies like BlackBerry.

Ethereum has been considered as one of the top trade asset for the coming week, by Nasdaq. The fact that this came amid strong price consolidation, was rather intriguing. Ethereum had been trading between $3300 and $3000 for most of this month but for the larger finance market players, this consolidation made Ethereum a better option. 

Notably, ETH has made higher lows since August 9 after its price started consolidating and this subtle pattern of the upward trend even during consolidation acted in favor of the top alt. For the coming week especially, traders at large were expected to turn towards Ethereum as the asset upped its game not just in terms of ROIs but also risk aversion.

Ethereum’s Shape ratio alongside the other top stocks for the coming week which included BlackBerry, Lucid Motors, and Big Lots looked pretty strong. BlackBerry secured a Sharpe ratio of 0.0207, which signified that the company showed 0.0207% of return per unit of standard deviation over the last three months. It was also considered slightly risky against other stocks. Ethereum on the other hand had shown resistance against high risk owing to its recent consolidation. 

Ethereum’s Sharpe ratio noted 9.41 on August 20, which was the highest value recorded this year. There was an almost 50% dip in the same at the time of writing and its value was 4.87. However, even with the dip, it was way more than the aforementioned companies’ stocks. Furthermore, Ethereum’s one-month ROI was 29.75% and its yearly ROI was 701.32% at press time. 

The top altcoin making its way in the larger market’s top traded stocks, paves way for other altcoins in the mainstream market.

(function($) {window.fnames = new Array(); window.ftypes = new Array();fnames[1]='MERGE1';ftypes[1]='text';fnames[0]='MERGE0';ftypes[0]='email';}(jQuery));var $mcj = jQuery.noConflict(true);

Share your thoughts, add a comment!

You must be logged in in order to place a comment.

Article comments

No comments yet, be the first to comment this article