COIN - Bitcoin And Ethereum Take Center Stage According To Coinbase Q2 Crypto Market Guide | Benzinga
On-chain analytics firm Glassnode, in cooperation with Coinbase International (NASDAQ:COIN), provides a comprehensive analysis of Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) in its quarterly crypto market guide research report.
What Happened: The report highlights the historical performance of Bitcoin, which has been the top-performing asset in eight out of the last eleven years, delivering an annualized return of 124% from 2013 to 2023.
Despite its impressive returns, Bitcoin has also experienced significant volatility, with average intra-year declines of 47%. The current market cycle, which began in November 2022, has seen prices rise around fourfold from the lows, closely resembling the 2018-2022 cycle.
The overall market capitalization of cryptocurrencies increased by 63% in the first quarter of the year.
The report points out several contributing factors:
- Approval of spot Bitcoin ETFs by the SEC in January 2024.
- The introduction of ...