Compartir este artículo
Goldman Crypto Report Shows Exchange Tokens, Proof-of-Stake Assets Outperforming
The Wall Street firm analyzed "which network features investors are rewarding."
Por Frances Yue
Exchange tokens and digital assets associated with proof-of-stake blockchain networks have outperformed the broader cryptocurrency market since the end of 2019, while privacy-focused digital tokens have underperformed, Goldman Sachs wrote in a new report.
STORY CONTINUES BELOW
No te pierdas otra historia.Suscríbete al boletín de Crypto Daybook Americas hoy. Ver todos los boletines
“As the market matures, monitoring crypto’s market segments may help determine which network features investors are rewarding, as well as the prospect for practical applications of the technologies,” Zach Pandl, Goldman's co-head of foreign-exchange strategy, and analyst Isabella Rosenberg wrote Wednesday in the report.
The publication of the report represents the latest iteration of the Wall Street firm's on-again, off-again flirtation with cryptocurrencies. As recently as June, one Goldman division panned digital assets as not "viable" for client portfolios, but the company's analysts continue to cater to institutional investors with in-depth examinations.
Exchange tokens are digital tokens issued by crypto exchanges, such as binance coin, while currency-like assets are represented by bitcoin (BTC). The report categorized chainlink (LINK) as a token used in other applications, and monero (XMR) as a privacy coin.
Remittance tokens such as xrp (XRP) outperformed the crypto market last November, while decentralized finance-related assets such as uniswap (UNI) gained momentum in January and early February, the report noted.
Meanwhile, tokens associated with proof-of-stake networks have outperformed proof-of-work tokens since the end of 2019, according to the report.
Cryptocurrencies are a “top-heavy market” compared with other asset classes, the report noted. Bitcoin accounts for 46% of the cryptocurrency market and ether accounts for 20%, according to the Wall Street firm. In comparison, the two largest stocks in the S&P 500 index account for roughly 12% of the market capitalization, the report shows.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
These Three Metrics Show Bitcoin Found Strong Support Near $80,000
Onchain data shows multiple cost basis metrics confirm heavy demand and investor conviction around the $80,000 price level.
What to know:
- Bitcoin rebounded from the $80,000 region after a sharp correction from its October all time high, with price holding above the average entry levels of key metrics.
- The convergence of the True Market Mean, U.S. ETF cost basis, and the 2024 yearly cost basis around the low $80,000 range highlights this zone as a major area of structural support.
Top Stories
