Crypto Index Tracker – Crypto Markets Slump

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Crypto markets have declined amid high correlation to equities, concerns around tighter monetary policy and the upcoming April 18, 2022, tax deadline in the US. As for the performance of our various indexes, we see losses across the board. Our DeFi index is down the most at 26%, followed by our smart contract and metaverse indexes, which are down 24% each. Our privacy index is down 21%, and our Bitcoin index is down 15%.

  • Smart contract platform index – Terra (LUNA) is down the most at 30%, and Ethereum (ETH) is down the least at 15%.
  • DeFi index – Aave (AAVE) is down the most at 34%, and Yearn.finance (YFI) is down the least at 22%.
  • Metaverse index – Terra Virtua Kollect (TVK) is down the most at 35%, and Aavegotchi (GHST) is down the least at eight percent.
  • Privacy index – Monero (XMR) is the only coin to have made gains – at two percent. Meanwhile, Verge (XVG) is down the most at 30%.
  • Bitcoin index – This is down 15%.

What are in the four indices?

Here are the indices in more detail.

  • Bitcoin: The OG of crypto markets deserves its own category and is in many ways the true benchmark for any other crypto market.
  • Smart contract platforms – After Bitcoin, the big innovation was to have blockchains that were more programmable. These could host smart contracts or decentralized applications and have allowed the emergence of the metaverse and DeFi. Ethereum (ETH) is the most popular version of a smart contract platform. As well as Ethereum, we also include some key competitors. The constituents of this index are Ethereum (ETH), Cardano (ADA), Avalanche (AVAX), Solana (SOL), Fantom (FTM), VeChain (VET), Terra (LUNA), EOS (EOS) and Chainlink (LINK). We also include Polkadot (DOT), which allows interoperability between blockchains and the use of smart contracts via parachains.
  • Metaverse – Coins associated with the creation of a virtual space/digital world on the internet using a combination of augmented reality, virtual reality and social networks. The constituents of this index are Axie Infinity (AXS), The Sandbox (SAND), Decentraland (MANA), Enjin Coin (ENJ), Aavegotchi (GHST), Terra Virtua Kolect (TVK), Ultra (UOS), Phantasma (SOUL), RedFOX Labs (RFOX) and Gala (GALA).
  • Decentralized Finance (DeFi) – Financial services built on top of blockchain networks with no central intermediaries. This can be a broad category, so we narrow this down to platforms that focus on lending/borrowing, yield farming, automated market making and decentralized exchange tokens. The constituents of this index are Aave (AAVE), Compound (COMP), Uniswap (UNI), Yearn.finance (YFI), Loopring (LRC), PancakeSwap (CAKE), Maker (MKR), 1inch (1INCH), Thorchain (RUNE) and Terra (LUNA).
  • Privacy coins – Coins that obscure transactions on the blockchain to maintain the anonymity of its users and their activity. The constituents of this index are Monero (XMR), Zcash (SEC), Dash (DASH), Verge (XVG), Horizen (ZEN), Beam (BEAM), Secret (SCRT), Decred (DCR), Keep Network (KEEP) and Dusk Network (DUSK).

Disclaimer

The commentary contained in the above article does not constitute an offer or a solicitation, or a recommendation to implement or liquidate an investment or to carry out any other transaction. It should not be used as a basis for any investment decision or other decision. Any investment decision should be based on appropriate professional advice specific to your needs.

Bilal Hafeez is the CEO and editor of Macro Hive. He spent over twenty years doing research at big banks – JPMorgan, Deutsche Bank and Nomura – where he had various ‘global head’ roles and did FX, rates and cross-markets research.

 

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