Crypto Index Tracker – Crypto Markets Plunge

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Crypto markets have declined amid high correlation with stocks, concerns over tightening monetary policy, and the upcoming April 18, 2022 U.S. tax deadline. In terms of the performance of our various indices, we see losses across the board. Our DeFi index is down the most, down 26%, followed by our smart contract and metaverse indices, each down 24%. Our privacy index is down 21% and our bitcoin index is down 15%.

• Smart Contract Platform Index – Terra (LUNA) is down the most, down 30%, and Ethereum (ETH) is down the least, down 15%.
• DeFi Index – Aave (AAVE) is down the most, down 34%, and Yearn.finance (YFI) is down the least, down 22%.
• metaverse index – Terra Virtua Kollect (TVK) is down the most at 35%, and Aavegotchi (GHST) is down the least at 8%.
• Privacy Index – Monero (XMR) is the only coin that has made profits – at two percent. Meanwhile, Verge (XVG) is down the most, down 30%.
• Bitcoin index – That’s a minus of 15%.

What is in the four indices?

Here are the indices in detail.

• Bitcoin: The OG of crypto markets deserves a category of its own and in many ways is the true benchmark for every other crypto market.
• Smart contract platforms – AAfter Bitcoin, the big innovation was having blockchains that were more programmable. These could host smart contracts or decentralized applications and have enabled the emergence of the metaverse and DeFi. Ethereum (ETH) is the most popular version of a smart contract platform. In addition to Ethereum, we also include some important 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 enables interoperability between blockchains and the use of smart contracts via parachains.
• metaverse – COptions related to 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) – FFinancial services built on blockchain networks without central intermediaries. This can be a broad category, so we’re narrowing it down to platforms focused on lending/borrowing, yield farming, automated market making, and decentralized exchange tokens. The components 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 obfuscate transactions on the blockchain to protect the anonymity of their users and their activities. The components 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 comment contained in the above article does not constitute an offer, solicitation, or recommendation to make any investment or liquidate or to engage in any other transaction. It should not be used as the basis for investment or other decisions. Any investment decision should be based on appropriate professional advice specifically tailored to your needs.

Bilal Hafeez is the CEO and publisher of Macro Hive. He spent over twenty years in research at major banks – JPMorgan, Deutsche Bank and Nomura – where he held various “Global Head” positions, conducting forex, rates and cross-market research.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any risky investments in Bitcoin, cryptocurrency or digital assets. Please note that you transfer and trade at your own risk and any losses you incur are your responsibility. The Daily Hodl does not recommend the purchase or sale of cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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