Asset prices across all sectors reached new all-time highs as that bull market continues with full force.
Here is a recap of what happened 👇🏻
In this piece, the @MessariCrypto research team and I dive into the performance of the overall market and drill down on some of the top-performing assets in each sector according to our taxonomy.
The top assets by market capitalization were dominated by $BNB. The token's run was fueled by the rise of Binance Smart Chain as a low-cost alternative to Ethreum.
Further aiding $BNB's run was the exchange's accelerating volumes and earnings fueled by white hot crypto markets.
Among DeFi assets, $CAKE and $LUNA were the clear winners. Both assets had a fantastic quarter reaching a total quarterly return of 3031% and 2403% respectively.
Solana came out on top among smart contract platforms. The rise of its application ecosystem during the quarter was one of the main catalysts behind the token's performance.
The decentralized exchange sector saw some impressive returns. Aside from $CAKE, $RUNE and $BNT had a phenomenal quarter fueled by news of investments and protocol upgrades.
Storage protocols such as $AR, $STORJ, $FIL, and $SC dominated the web 3 sector as awareness of the importance of file storage proliferated throughout the quarter.
Check out the full report to dig further into the details of the events that drove the Q1 performance of:
- Top assets
- DeFi
- Smart Contract Platforms
- Centralized Exchanges
- Decentralized Exchanges
- Web 3
Uniswap was the first decentralized exchange to popularize the use of a constant function. The easy-to-grasp constant product function set the stage for several innovations in the space.
1/ The DeFi Pulse Index (DPI) now has over $35M in assets showing increased demand for crypto indexes
While DPI is a good investment for beginners, it may not provide the diversification that sophisticated investors demand, leaving them overexposed to individual DeFi assets
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2/ Index funds are by far the most traded instruments in traditional finance. They provide diversification, broad market exposure, have lower fees, and seek to match the return of the market (or asset class) creating the perfect investment vehicle for new investors
3/ Despite these attributes, index funds can become highly concentrated depending on their construction methodology reducing the diversification benefits of the product. This applies in particular to capitalization-weighted indexes like the S&P 500 and the DeFi Pulse Index