Metaverse Crypto Investor Index Gains 27%, Outperforms BTC & DeFi at 15%

Macro Hive ,a leading independent provider of global macro and financial market research, and a digital financial media firm, released updates to their Crypto Indices.

Macro Hive Crypto indices have been popular among investors and so they are constantly looking for ways to improve them. They therefore decided to make a number of improvements. First, they expanded the number of coins in each index from five to 10. This should give a better overall measure of how well each class of coins is performing.

Second, Macro Hive changed the index calculation methodology to a more tradeable monthly rebalancing rather than daily. Equal weighting is retained to prevent one coin from dominating each index.  The company will release a more detailed write-up on coin selection and the broader revisions in the coming weeks.

As for the recent performance of the indices, metaverse index continues to outperform with an impressive 27% gain over the past week (see charts one and two). Bitcoin, the smart contract index and the DeFi index had similar weekly performances of around 15%.

In terms of the breakdown within each index,

• Smart contract platform index – VeChain (VET) is up the most at 25% on the week, while Chainlink (LINK) is up the least at nine percent. Meanwhile, Ethereum is up 17% on the week.
• DeFi index – Compound (COMP) is up the most at 22% while Uniswap (UNI) and Maker (MKR) are up the least at five percent each.
• Metaverse index – Gala (GALA) is up the most at a staggering 76% while Aavegotchi (GHST) is up the least at three percent.
• Bitcoin index – This is up 14% on the week.

What are 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 – After 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), 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.
• Metaverse – Coins 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 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).
• Decentralized finance (DeFi) – Financial 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), Compound (COMP), Uniswap (UNI), Yearn.finance (YFI), Loopring (LRC), PancakeSwap (CAKE), Maker (MKR), 1inch (1INCH), Thorchain (RUNE) and Terra (LUNA).

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