
Crypto Index Tracker: Metaverse vs Defi
By Bilal Hafeez and Dalvir Mandara
(3 min read)
By Bilal Hafeez and Dalvir Mandara
(3 min read)
The crypto world can be daunting even for crypto natives, but for beginners it is easy to bundle all coins and markets into a generic category of ‘crypto’. Yet, clear and distinct domains are starting to emerge each with their own use cases. We have therefore constructed four crypto indices that capture the more popular uses. Each index (apart from one) is made up of five coins that we think are representative. The indices can be used a benchmark for the market value assigned to each theme.
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The crypto world can be daunting even for crypto natives, but for beginners it is easy to bundle all coins and markets into a generic category of ‘crypto’. Yet, clear and distinct domains are starting to emerge each with their own use cases. We have therefore constructed four crypto indices that capture the more popular uses. Each index (apart from one) is made up of five coins that we think are representative. The indices can be used a benchmark for the market value assigned to each theme.
Here are the indices in more detail:
The clear outperformer this year has been the metaverse (Chart 1, note the vertical axis is in log terms). It is up a whopping 37,000% this year and has gained 20% over the past seven days alone (Chart 2). Returns appeared to be turbocharged by Facebook’s decision to rebrand to Meta. The next best performer this year has been smart contract platforms. This index is up 2,355% in 2021 – which is notably lower than the Metaverse index. It is down 2% over the past seven days. DeFi had a good start to the year, but has struggled since the summer. It is up 584% in 2021 and is down 1.3% over the past seven days. Finally, the laggard for 2021 has been bitcoin. It has ‘only’ risen 97% in 2021 and is down 0.9% over the past seven days.
The prices were snapped at 10:30am GMT and we will update this report once a week.
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