HomeCryptoHow Crypto Sectors Trade Through Dollar Strength 'Tsunami'

How Crypto Sectors Trade Through Dollar Strength ‘Tsunami’



Overall, cryptocurrency did worse than stocks in the week following the CPI data release. CoinDesk Market Index (CMI), an index that includes 148 of the largest cryptocurrencies, has fallen 13.5% over the past seven days. Here too we find differences by sector. CoinDesk Smart Contract Platform Index (SMT) – which includes the likes of ether (ETH), Cardano’s ADA and Solana’s SOL – fell 19.8%. To be sure, a significant portion was due to ether’s fall after the Merger, and not just due to general market conditions, although other assets in the index also declined due to selling.


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