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Crypto markets have been choppy over the past week. Several regulatory news headlines contributed to the moves. President Joe Biden signed an executive order on cryptocurrency policy which is designed to support ‘responsible innovation,’ and MEPs in the EU voted against a proposed bill to limit proof-of-work-based cryptocurrencies. These are positive signs for crypto but it still seems unable to shrug off its correlation to equity markets amid the Russia-Ukraine tensions.
As for the specific coin performance, we see variation across sectors. Our DeFi index and our privacy index are up the most at around 10% each (see charts one and two). Our Bitcoin index and our smart contract index are up four-percent and two-percent, respectively. Lastly, our metaverse index is the only one to have registered losses week on week it’s down three-percent.
- Smart contract platform index Terra (LUNA) is up the most at 21%, and Fantom (FTM) is down the most at 18%. Ethereum (ETH) is up four-percent.
- DeFi index Thorchain (RUNE) is up the most at a staggering 70%. Meanwhile, PancakeSwap (CAKE) is down the most at five-percent.
- Metaverse index Axie Infinity (AXS) is up the most at three-percent, and RedFox Labs (RFOX) is down the most at 13%.
- Privacy index Zcash (SEC) is up the most at 35%, and Keep Network (KEEP) down the most at six-percent.
- Bitcoin index This is up four-percent.
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 fter 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…
