Brokkr Crypto Indexes Dec’23: Arbitrum Increases While Avalanche Dips.
Our monthly Index report will bring you the latest updates in a concise, easy to digest way.
Comparing the Avalanche and Arbitrum Indexes, in contrast to the previous month, our Arbitrum Indexes saw growth with our DeFi Index taking the lead with an increase of 35%, while the Avalanche Indexes corrected from humongous growth in November with the biggest loser being our Avalanche Gaming NFT Index which dropped by around 50%.
Let’s dive deeper to see what happened in the last 30 days.👇
🔺Avalanche Gaming NFT Index (-50.66%)
The Avalanche NFT Gaming ecosystem saw the biggest correction, with a decrease of around 50% over the past 30 days, a correction was expected after such a substantial increase across all projects in November.
1. Heroes Chained (HEC) 📉 -34.3%
HEC is the native currency of Heroes Chained, a real-time fantasy action RPG game.
Although there has been a correction from the previous month (+244% in November), Heroes Chained released their Open Beta at the start of December and just finished their Treasure Trove Tournament.
2. Battle For Giostone (BFG) 📉 -35.7%
BFG is the first Web3 MOBA built for Esports, co-founded by DOTA esports veteran Theeban Siva.
As with the other Gaming NFT projects, BFG has corrected from the 105% increase in November, dropping around 35% in the last 30 days.
3. Chikn Egg (EGG) 📉 -48.6%
EGG is the governance and utility token of the Chikn NFT gaming ecosystem. Chikn are upgradable NFTs on Avalanche where a user collects eggs and grows their farm.
There has been a considerable correction from the growth seen in November. In recent news on the 13th of December, Chikn launched their Partner Rewards program to increase overall awareness.
4. Heroes Of NFT (HON) 📉 -35.4%
HON is the native utility token of the P2E card game Heroes of NFT. Their big differentiator is staking rewards based on the NFT rarity in $HON and $AVAX. HON is the native utility token of the P2E card game Heroes of NFT. Their big differentiator is staking rewards based on the NFT rarity in $HON and $AVAX.
Again, there has been a correction from growth in November (+350%). HON released their HON Marketplace in December, where users are able to auction their NFTs and creates a more simple way to trade / buy $HON.
5. Snail trail (SLIME) 📉 -55.7%
SLIME is the utility token of the game Snail Trail that lets you race and breed snails.
It is the same story as the rest of the Gaming NFT projects in regards to SLIME’s price correction from November.
6. Brokkr Finance (BRO) 📉 -39.7%
BRO is the governance and utility token of Brokkr Finance and is included in every Avalanche index.
BRO saw a correction in the last 30 days after a 145% increase in November.
🔺Avalanche DeFi Index (-11.47%)
Avalanche’s DeFi index corrected with GMX leading the charge while the other projects corrected. A Correction was expected after such a substantial price increase across all projects in November.
1. GMX (GMX) 📈 +8.7%
GMX is a decentralized spot and perpetual exchange that supports low swap fees and zero-price impact trades.
GMX has increased in price in the last 30 days by 8.7% and was the only project in the DeFi index to show gains, this could be down to the recent GMV V2 launch.
2. TraderJoe (JOE) 📉 -22.4%
Trader Joe is a multi-functional DeFi trading platform.
JOE took around a -22% decrease in price in this last 30 days after an 84% increase in November. They recently announced a zero-fee bridge integrated directly into Trader Joe’s UI to move $JOE across chains.
3. Pangolin (PNG) 📉 -31.7%
The PNG token is the governance token for the Pangolin decentralized exchange. It can be used for participating in governance by voting on proposals.
PNG as with most Avalanche DeFi projects in the Index has dropped around 31%.
4. BENQI (QI) 📉 -30.8%
BENQI is a staking and lending protocol built on Avalanche and consists of the Liquidity Market and Liquid Staking.
QI has taken a correction after being the biggest winner in the previous month (+301%), In recent news, BENQI migrated their farm rewards to the QI — AVAX Trader Joe Liquidity Pool at the end of December.
5. Vector Finance (VTX) 📉 -45.8%
Vector enables boosted yield on Platypus and TraderJoe, even if users don’t own any PTP or JOE.
VTX as with most DeFi projects in the Avalanche Index have corrected from substantial price growth in the previous months.
6. Brokkr Finance (BRO) 📉 -39.7%
BRO is the governance and utility token of Brokkr Finance and is included in every Avalanche index.
BRO saw a correction in the last 30 days after a 145% increase in November.
🔺Avalanche Top Market Cap Index (+0.98%)
Although the Gaming NFT and DeFi indexes struggled The Top Market Cap index increased slightly although going sidewards and consolidating.
1. Bitcoin (BTC) 📉 -0.3%
Bitcoin is the most recognized cryptocurrency. For the Index, we use wrapped BTC on Avalanche.
BTC didn’t vastly increase in price in regards to over 30 days, although BTC did peak and reach $48,000 the day after Bitcoin ETFs were approved and there was some volatility when The SECs Twitter was hacked.
2. Ethereum (ETH) 📈 +11.5%
Ethereum is the second-largest cryptocurrency by market capitalization, and we use its wrapped version on Avalanche.
ETH outperformed BTC in the last 30 days. Generally ETH follows the BTC price movement in the early stages of the bull run. However, things may change when the alt-season kicks in.
3. TraderJoe (JOE) 📉 -22.4%
Trader Joe is a multi-functional DeFi trading platform.
JOE took around a -22% decrease in price in this last 30 days after an 84% increase in November. They recently announced a zero-fee bridge integrated directly into Trader Joe’s UI to move $JOE across chains.
4. Avalanche (AVAX) 📉 -21.4%
AVAX is used to pay transaction fees and can be staked to secure the Avalanche network.
After having a great November, $AVAX has corrected by around 22% in the last 30 days. Avalanche seems to be focusing heavily on gaming and aiming to become the leaders in this industry in 2024.
5. Chainlink (LINK) 📈 +4.4%
The LINK token provides the main incentive mechanism for users to participate in Chainlink’s decentralized network of oracles.
LINK has been steadily rising this last 12 months, spearheaded by their Oracle feeds and their Cross-Chain Interoperability Protocol (CCIP) launched this year. LINK has been moving sideways over the past month (+4.4%) after a sharp rise from $6 to $16 in under 3 months and currently sits around $15.
6. Brokkr Finance (BRO) 📉 -39.7%
BRO is the governance and utility token of Brokkr Finance and is included in every Avalanche index.
BRO saw a correction in the last 30 days after a 145% increase in November.
(💙,🧡) Arbitrum DeFi Index (+35.81%)
Arbitrum’s DeFi Index was the top performer of all the Indexes. So let’s have a look into what went on in the Arbitrum DeFi space and the reasons behind the gains.
1. Pendle Finance (PENDLE) 📈 +44.9%
PENDLE is the token of the Pendle Finance yield-trading protocol. It wraps yield-bearing tokens into standardized yield tokens (SY), which are then split into their principal (PT) and yield (YT) components for trading via a custom V2 AMM, enabling users to maximize yield exposure and hedge against downturns.
PENDLE was the winner of the DeFi index, growing around 45% in the last 30 days. The protocol recently reached a TVL all time high of $278 million.
2. JonesDAO (JONES) 📈 +13.1%
JONES is the native token of JonesDAO. It’s part of a governance model, referred to as veJones, which is currently under development.
JONES had a profitable 30 days, increasing by just over 13%. JonesDAO started in December their large-scale buyback of JONES tokens.
3. Dopex (DPX) 📈 +41.1%
The DPX token is the main token for the Dopex protocol, and it is used to reward liquidity providers participating in their option products.
DPX just missed out on first place, with a very respectful 41% price increase in the last 30 days. In December, Dopex announced the first protocol built on top of Dopex v2, MarginZero.
4. PlutusDAO (PLS) 📈 +5.7%
PLS is the native token of Plutus, an Arbitrum-native governance aggregator. It maximizes users’ liquidity and rewards while simultaneously aggregating governance. Plutus aims to become the de-facto Layer 2 governance solution for projects with veTokens.
PLS saw an increase after it’s correction in November. PlutusDAO recently announced the launch of plsRDNT V2.
(💙,🧡) Arbitrum Top Market Cap Index (+11.88%)
The Arbitrum Top Market Cap Index saw growth, although not the same level as The DeFi Index. Let’s dive into what happened.
1. Bitcoin (BTC) 📉 -0.3%
Bitcoin is the most recognized cryptocurrency. For the Index, we use wrapped BTC on Arbitrum.
BTC didn’t vastly increase in price in regards to over 30 days, although BTC did peak and reach $48,000 the day after Bitcoin ETFs were approve and there was some volatility when The SECs Twitter was hacked.
2. Ethereum (ETH) 📈 +11.5%
Ethereum is the second-largest cryptocurrency by market capitalization, and we use its wrapped version on Arbitrum.
ETH outperformed BTC in the last 30 days. Generally ETH follows the BTC price movement in the early stages of the bull run. However, things may change when the alt-season kicks in.
3. MAGIC (MAGIC) 📈 +24.4%
MAGIC is the natural resource of the Treasure metaverse. It can be earned through playing, mining, and participating in Bridgeworld. The Treasure ecosystem, therefore, is governed by MAGIC holders.
MAGIC saw an increase of just under 25%, MAGIC announced upcoming Alpha launch in Q1 2024, which will create more hype and awareness.
4. Arbitrum DAO (ARB) 📈 +84.6%
ARB is a governance token of the Arbitrum ecosystem. ARB holders can vote on proposals affecting the operation and evolution of the Arbitrum One and Arbitrum Nova chains.
The biggest bag holder in the Index, ARB had a great 30 days by gaining 86%.
5. WOO (WOO) 📉 -2.1%
The WOO token is the token for the Wootrade Network. It can be used in the network’s CeFi and DeFi products for staking and fee discounts.
Although WOO took a small dip of around 2% in the last 30 days, WOOFI, recently reached an all time high 24hr volume on Arbitrum of over $47M
In conclusion, the last month we saw continued growth across Arbitrum Indexes while Avalanche Indexes corrected after having a superb November.
You can click below to check out all our Indexes, we will see you again next month!
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