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The crypto market has been volatile for the past week. Several regulatory news headlines contributed to the move. President Joe Biden signs a presidential order on cryptocurrency policies designed to support “responsible innovation,” and the EU MEP opposes a bill limiting proof-of-work-based cryptocurrencies. Was thrown. These are positive signs of cryptocurrencies, but it seems that the correlation with the stock market cannot be ignored in the tension between Russia and Ukraine.
Specific coin performance varies across sectors. The DeFi index and privacy index are highest at around 10% each (see Graphs 1 and 2). Our Bitcoin Index and Smart Contract Index are up 4% and 2% respectively.Finally, our Metaverse Index is the only one that records weekly losses.It’s down 3 percent.
- Smart contract platform index Terra (LUNA) is highest at 21% and Fantom (FTM) is lowest at 18%. Ethereum (ETH) is up 4%.
- DeFi index Thorchain (RUNE) is the highest at an astonishing 70%. On the other hand, PancakeSwap (CAKE) is the lowest at 5%.
- Metaverse index Axie Infinity (AXS) is the highest at 3% and RedFox Labs (RFOX) is the lowest at 13%.
- Privacy index Zcash (SEC) is the highest at 35% and Keep Network (KEEP) is the lowest at 6%.
- Bitcoin index This is an increase of 4%.
What are the four indexes?
The details of the index are as follows:
- Bitcoin: The crypto market OG deserves its own category and is, in many respects, a true benchmark for other crypto markets.
- Smart contract platform After Bitcoin, a big innovation was to have a more programmable blockchain. They hosted smart contracts or decentralized applications, enabling the emergence of Metaverse and DeFi. Ethereum (ETH) is the most popular version of the smart contract platform. Not only Ethereum, but also some major competitors are included. The components of this index are Ethereum (ETH), Cardano (ADA), Avalanche (AVAX), Solana (SOL), Fantom (FTM), VeChain (VET), Terra (LUNA), EOS (EOS), Chainlink (LINK). )am. .. It also includes Polkadot (DOT), which enables interoperability between blockchains and the use of smart contracts over parachains.
- Metaverse Oins related to the creation of virtual space / digital worlds on the Internet using a combination of augmented reality, virtual reality and social networks. The components 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). )am. , RedFOX Labs (RFOX) and Gala (GALA).
- Decentralized Finance (DeFi) Financial services built on a blockchain network without a central intermediary. This can be a wide range of categories, so we will focus on platforms that focus on lending / borrowing, harvest 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 coin Oins that obscure transactions on the blockchain to maintain anonymity between 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).
The commentary contained in the above article does not constitute an offer, solicitation, or recommendation to make or liquidate an investment, or to execute any other transaction. It should not be used as the basis for investment decisions or other decisions. Investment decisions should be based on the advice of the appropriate professionals specific to your needs.
Bilal Hafeez is the CEO and Editor of Macro Hive. He has been conducting research at major banks such as JP Morgan, Deutsche Bank and Nomura for over 20 years.
He has played various “global head” roles, conducting Forex, rate and cross-market research.
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