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The Smart Contract Index has increased by 12%, according to the Crypto Index Tracker

Our smart contract index has increased by 11.9 percent, thanks to a 31% increase in Cardano, and our DeFi index has increased by 10.6 percent.

Bitcoin has been trading in a range of $42,000 to $43,000. (see charts one and two below). Other crypto markets, on the other hand, have performed better.

The metaverse index has previously underperformed, but it only managed a 6.4 percent rise this time.

See the table below for the breakdown of each indices.

Index of smart contract platforms – Except for Solana (SOL), all of the coins in this basket are up this week. Cardano (ADA) is up 31.2 percent, followed by Polkadot (DOT), which is up 3.6 percent. The value of Ethereum has increased by 1.6 percent. Except for Compound (COMP), all coins in the DeFi index are up this week. Compound (COMP) is down 4.5 percent, while Aave (AAVE) is up 13.4 percent.

Metaverse index – This basket’s constituents had a mixed performance. The most recent gainer is Axie Infinity (AXA), which is up 6.8%, followed by Enjin Coin (ENJ), which is up 2.9 percent. Gala (GALA) is down the most, with a 4.5 percent drop.

Bitcoin — This has remained largely stable this week, losing only 0.1 percent.

Here’s a closer look at the indices.

Bitcoin — The first cryptocurrency market deserving of its own category, and in many ways the true baseline for all others.

Smart contract platforms — Following Bitcoin, the main breakthrough was the development of programmable blockchains. These could host smart contracts or decentralized applications, allowing the metaverse and DeFi to arise. The most widely used smart contract platform is Ethereum (ETH). Rivals Solana (SOL), Cardano (ADA), and Avalanche (AVL) are also included (AVAX). Polkadot (DOT) is also included, which enables interoperability between blockchains as well as the application of smart contracts via parachains.

Metaverse – Coins linked to the establishment of a virtual space/digital world on the internet by the use of augmented reality, virtual reality, and social media. Axie Infinity (AXS), a play-to-earn gaming platform, is one of the largest in this market. Another is Decentraland (MANA), a virtual environment that, among other things, permits land ownership. The Sandbox (SAND), Enjin Coin (CNJ), and Gala are the other three coins we’ve included (GALA).

Decentralized Finance (DeFi) is a word used to describe financial services that are created on top of blockchain networks without the use of centralized intermediaries. Because this is such a large topic, we’ve narrowed it down to platforms that specialize in lending and borrowing, as well as yield farming. Compound (COMP), Uniswap (UNI) and PancakeSwap (CAKE), Aave (AAVE), Maker (MKR), and Aave (AAVE) are the five coins we’ve chosen.

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