Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnSquareMore
Meta’s Stock Outpaces Bitcoin, Ethereum Falters in 2024

Meta’s Stock Outpaces Bitcoin, Ethereum Falters in 2024

CoineditionCoinedition2024/09/05 16:00
By:Ebiseyei Badei
  • Meta’s 48% YTD return surpasses Bitcoin’s 34%, driven by strong market momentum.
  • Ethereum struggles with a 9% YTD return, underperforming against major assets.
  • Nvidia leads with 142% YTD growth, outperforming other tech giants like Apple, Google, and Amazon.

Meta’s year-to-date (YTD) gains are closing in on Bitcoin’s, while Ethereum is struggling in 2024, according to Ecoinometrics data . BTC has shown a relatively stable YTD return of approximately 38% since the start of the year.

Meta Emerges as Bitcoin’s Top Competitor

Despite its steady progress since March, the cryptocurrency lacks a catalyst for a major breakout. This consistent but unspectacular trajectory has left it vulnerable to competition as other assets make gains.

Meta, in contrast, has had a stronger year, with a YTD return of 48%. The company’s recent market momentum has narrowed the gap with Bitcoin, positioning Meta as a formidable contender in terms of overall growth and investor interest.

Read also: Bitcoin’s Risk-Adjusted Returns Challenged: NVIDIA, Meta, Gold Rise

Ethereum, meanwhile, has faced a more challenging path than its peers. With only a 9% YTD return, ETH’s price trend reflects underperformance. August has been particularly tough for Ethereum, pushing it further behind other large-cap assets and solidifying its weak performance.

Tech Stocks Outshine Crypto

Meanwhile, other major companies, such as Nvidia (+142%), Apple (+22%), Google (+18%), and Amazon (+17%), have demonstrated varying degrees of success. Nvidia, in particular, stands out as a clear leader, showing exceptional growth compared to its peers.

The NASDAQ-100 also performed well, gaining 20% YTD and making notable strides in August. This performance has brought it closer to Bitcoin’s yearly gain, which now sits at 34%, slightly down from its earlier 40% peak. Bitcoin saw a surge early in the year, largely fueled by the launch of spot Bitcoin ETFs in the U.S. However, as the year progressed, Bitcoin’s momentum slowed.

Read also: The Convergence of Bitcoin and NASDAQ: What Does it Mean?

The data highlights the competitive nature of the financial market. Bitcoin’s steady but subdued performance, Meta’s continued growth, and Ethereum’s challenges underscore the ongoing shifts in market dynamics. Bitcoin’s future direction remains uncertain, and it may need a new catalyst to regain its footing.

Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

0
0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

ETFs are being launched in clusters, but coin prices are falling. Can ETF approval still be considered good news?

On one hand, Vanguard has opened Bitcoin ETF trading, while on the other hand, CoinShares has withdrawn its applications for XRP, Solana Staking, and Litecoin ETFs, highlighting a significant divergence in institutional attitudes toward ETFs for different cryptocurrencies.

Chaincatcher2025/12/04 07:48
ETFs are being launched in clusters, but coin prices are falling. Can ETF approval still be considered good news?

Coinglass report interprets Bitcoin's "life-or-death line": 96K becomes the battleground between bulls and bears—Is the ETF capital withdrawal an opportunity or a trap?

Bitcoin's price remains stable above the real market mean, but the market structure is similar to Q1 2022, with 25% of supply currently at a loss. The key support range is between $96.1K and $106K; breaking below this range will increase downside risk. ETF capital flows are negative, demand in both spot and derivatives markets is weakening, and volatility in the options market is underestimated. Summary generated by Mars AI. The accuracy and completeness of this summary are still being iteratively updated by the Mars AI model.

MarsBit2025/12/04 07:40
Coinglass report interprets Bitcoin's "life-or-death line": 96K becomes the battleground between bulls and bears—Is the ETF capital withdrawal an opportunity or a trap?
© 2025 Bitget