HodlX Guest Post Submit Your Post
Crypto markets have been hit hard as tensions between Russia and Ukraine intensify. Bitcoin and our smart contract index are down around 13-14%. This brings Bitcoin’s cumulative drawdown from its November 2021 highs to 46%. Elsewhere, our metaverse index is down the most at 17%, followed by our DeFi index, which is down 16% (see charts one and two).
- Smart contract platform index
- DeFi index Aave (AAVE) and 1inch (1INCH) are down the most at 20% each WoW. Terra (LUNA) is down the least at seven percent.
- Metaverse index
- Bitcoin index This is down 13%.
What are the four indices?
Here are the indices in more detail.
- Bitcoin crypto market. he OG of crypto markets deserves its own category and is in many ways the true benchmark for any other
- Smart contract platforms 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. 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 Ethereum, we also include some key competitors. The constituents of this index are Ethereum (ETH),
- Metaverse 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). oins 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
- Decentralized finance (DeFi) Compound (COMP), Uniswap (UNI), Yearn.finance (YFI), Loopring (LRC), PancakeSwap (CAKE), Maker (MKR), 1inch (1INCH), Thorchain (RUNE) and Terra (LUNA). inancial services built on top of blockchain networks with no central intermediaries. This can be a very 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),
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.
Follow Us on Twitter Facebook Telegram
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/FlashMovie/Vladimir Sazonov