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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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