Ethereum and Bitcoin are the top 2 trending altcoins in the cryptocurrency markets this year. For the whole year, no other cryptocurrency was able to depose the ranking of these tokens, and it seems that traditionally famous gold has also lost the battle against these leading cryptocurrencies.
There are still many financial companies and investors who swear by gold as the top store of value. However, the increasing popularity of digital asset markets and the record returns noted on the digital asset markets have started to cast a shadow on the real golden metal market. The latest data from the market indicates that gold was left way behind by BTC and ETH.
2021 was the year of cryptocurrencies. The main cause of massive cryptocurrency adoption was massive gains shown by the top trending coins. In 2021, both ETH and BTC recorded ATH more than one time. Furthermore, both tokens have been able to show at least double or triple ROIs.
Data shared by IntoTheBlock indicates that for gold, the same is not true. The investors, with their stakes locked in the gold market, losses were recorded at the year-end. The net ROI for gold at the end of 2021 was valued at -5.26%. Bitcoin prices surged by 72%, and Ethereum showed 456% gains, as noted by NASDAQ and S&P projections.
Bitcoin and Ethereum are two top coins that have made a big impact on the cryptocurrency markets this year. The tokens have set the foundation for a novel financial market that can outrun the traditional gold markets. Gold has been valued in human civilization for 2000 years.
A 2020 survey published by deVere revealed that most Millennials showed a visible preference for Bitcoin over gold investment. CNBC also conducted a survey last year also insinuated that more than 50% of the investors have channeled their savings into Bitcoin and they want to keep increasing their reserve.