Monday, May 27, 2024

Goldman’s Proof-of-Stake Assets and Exchange Tokens Outperform Other Investments

According to a recently-released report by Goldman Sachs, Proof-of-Stake (PoS) assets and exchange tokens have performed better than the broader crypto market and privacy-focused digital tokens. The report has taken into consideration the performance of exchange tokens and PoS assets since 2019’s end. In the report, analyst Isabella Rosenberg and the company’s foreign exchange strategy co-head Zach Pandl said that monitoring the segments of the crypto market may have a role in determining the network features being rewarded by investors. The report also stated that the monitoring of the crypto market segments would also identify the prospects for applying the technologies practically.

This latest report once again brings Goldman Sachs’ love-hate relationship with cryptocurrencies to the fore. Remember, it hasn’t been long since Goldman Sachs determined digital assets to be not viable for the portfolios of the company’s clients. However, the company hasn’t stopped catering to institutional investors.

Last November, the crypto market was outperformed by xrp (-1.68%) (XRP) and other remittance tokens. Through January and February, uniswap (UNI, +6.31%) (UNI) and other assets related to decentralized finance gained momentum. The report also states that tokens that are associated with PoS networks have performed better than Proof-of-Work (PoW) tokens dating back to 2019’s end.

Another important takeaway from the report is that when in comparison with other classes of assets, cryptocurrencies make for a market that’s “top-heavy”. According to the firm based out of Wall Street, Bitcoin constitutes 46% of the crypto market, while ether (ETH, +2.7%) constitutes around 20%.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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