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25 January 2021

Traders Find Hefty Gains Beyond Bitcoin in Ethereum, XRP | Crypto Briefing

Traders Find Hefty Gains Beyond Bitcoin in Ethereum, XRP | Crypto Briefing


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Altcoins have outpaced Bitcoin’s price appreciation this year.

Historically, Ethereum has had a higher beta compared to Bitcoin during trending markets.

When beta values range above one, gains or losses on Ethereum are more pronounced compared to Bitcoin.

Based on 30-day returns for BTC and ETH, the beta value of Ethereum reached a peak value of more than three-fold in 2017.

While Ethereum has led Bitcoin throughout the year, XRP’s rally came very recently and rose almost vertically. .

The DeFi boom and bust were relatively independent of the moves in top cryptocurrencies like Bitcoin and Ethereum. 

The correlation between Bitcoin and DeFi tokens is weaker than the rest of the leading cryptocurrencies, such as ETH, XRP, and LTC

Further, the corrections have been more pronounced in altcoins than Bitcoin during bear markets. 

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