Over the last week, the Crypto Market has been chaotic. The decisions were influenced by a number of regulatory news headlines. President Joe Biden signed an executive order on cryptocurrency policy to encourage responsible innovation, while MEPs in the EU voted against a planned bill to ban proof-of-work-based cryptocurrencies. These are promising signs for cryptocurrency, but it still appears unable to shake its link to equities markets in the midst of Russia-Ukraine tensions.
In terms of coin performance, we notice diversity between sectors. The DeFi index and the privacy index have risen the highest, each by roughly 10%. The Bitcoin index and the smart contract index are up 4% and 2%, respectively. Finally, the metaverse index is the only one that has lost ground week over week, it is down 3%.
Detail Information of 4 Indices
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
The key breakthrough was to create more programmable blockchains. These could host smart contracts or decentralized applications, allowing the metaverse and DeFi to arise.
Ethereum (ETH) is the most widely used smart contract platform. We cover some significant competitors in addition to Ethereum. Ethereum (ETH), Cardano (ADA), Avalanche (AVAX), Solana (SOL), Fantom (FTM), VeChain (VET), Terra (LUNA), EOS (EOS), and Chainlink are the index’s constituents (LINK).
We also include Polkadot (DOT), which enables blockchain interoperability and the use of smart contracts via parachains.
Coins related to the building of a virtual space/digital environment on the internet by the use of augmented reality, virtual reality, and social networks.
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 are index constituents (GALA).
Decentralized Finance (DeFi)
Financial services are built on top of blockchain networks that do not rely on centralized intermediaries. This can be a large topic, but we’ve narrowed it down to platforms that specialize in lending/borrowing, yield farming, automated market creation, and decentralized exchange tokens.
Aave (AAVE), Compound (COMP), Uniswap (UNI), Yearn.finance (YFI), Loopring (LRC), PancakeSwap (CAKE), Maker (MKR), 1inch (1INCH), Thorchain (RUNE), and Terra are the index constituents (LUNA).
Coins obscure blockchain transactions in order to protect the anonymity of their users and their activities.
Monero (XMR), Zcash (SEC), Dash (DASH), Verge (XVG), Horizen (ZEN), Beam (BEAM), Secret (SCRT), Decred (DCR), Keep Network (KEEP), and Dusk Network are the index’s constituents (DUSK).
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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