Brokkr Crypto Indexes Nov’23: Up To 204% Gains!
The Brokkr Crypto Indexes in November returned up to a staggering 204%. This index report will become a monthly feature in 2024, bringing you the latest updates in a concise way. Comparing the Avalanche and Arbitrum ecosystems, it’s evident that Avalanche is firing up all its cylinders propelled by NFT and web3 gaming in sharp contrast to Arbitrum, where DeFi suffered the most.
Let’s dive deeper to follow what happened in the last month 👇
🔺Avalanche Gaming NFT Index (+204%)
The Avalanche NFT Gaming ecosystem saw the biggest performance boost, with over 200% increase over the past 30 days.
1. Chikn Egg (EGG) 📈 +112%
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. Chikn attracted a lot of attention due to their 2nd-anniversary party, 8% EGG supply burn, and hints that ChiknX (cross-chain bridge for Polygon) is coming soon. With $150k+ NFT Volume and $500k+ token volume, it’s making waves in the NFT ecosystem and is up by 112%.
2. Battle For Giostone* (BFG) 📈 +105%
BFG is the first Web3 MOBA built for Esports, co-founded by DOTA esports veteran Theeban Siva.
$BFG saw a sharp rise of 105% over the past 30 days. They held an EU BFG tournament at the end of November with a $2500 prize pool and saw an unexpected number of teams signing up with 28 teams making it to the playoffs.
*BFG is a part of the Gaming and NFT Index (20% by portfolio) but the Index UI doesn’t reflect that yet.
3. Heroes Of NFT (HON) 📈 +347%
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.
Heroes Of NFT is a play-to-earn card game that recently announced its marketplace as a New Year’s Gift to the community which helped it gain almost 350% over the past 30 days.
4. Heroes Chained (HEC) 📈 +244%
HEC is the native currency of Heroes Chained, a real-time fantasy action RPG game.
Heroes Chained went up by around 250% over the past month after their Open Beta was announced on the 1st of December.
5. Snail trail (SLIME) 📈 +381%
SLIME is the utility token of the game Snail Trail that lets you race and breed snails.
It is the biggest gainer in this period with a 380% price increase. They concluded a Snail Racing Championship with a $1000 prize pool last week, and during their Tournament Season, they gave out over $6000 in prizes.
6. Brokkr Finance (BRO) 📈+142%
BRO is the governance and utility token of Brokkr Finance and is included in every index.
$BRO gained traction upon the news of a 45% token supply burn and the announcement of UniV3 LP Strategies.
🔺Avalanche DeFi Index (+88.9%)
Avalanche’s DeFi index rallied with Benqi and Vector Finance leading the charge while GMX struggled.
1. GMX (GMX) 📉 -5%
GMX is a decentralized spot and perpetual exchange that supports low swap fees and zero-price impact trades.
$GMX has been crab-walking sideways around $50, but is holding solid as evidenced by its strong support during the bear market and steady price movement since launch.
2. TraderJoe (JOE) 📈 +84%
Trader Joe is a multi-functional DeFi trading platform.
$JOE has been steadily climbing over the past month (+84%). They recently announced a zero-fee bridge integrated directly into Trader Joe’s UI to move $JOE across chains. Last month they announced that the $JOE token has reached its 500 million tokens total supply and daily emissions are now over.
3. BENQI (QI) 📈 +301%
BENQI is a staking and lending protocol built on Avalanche and consists of the Liquidity Market and Liquid Staking.
Benqi was the biggest winner in this 30-day sprint with most of the gains in the past week with massive trading volumes of over 250 million US$ in under 24 hours.
This stratospheric jump came after an announcement for Ignite, their Subnet rental model.
4. Platypus Finance (PTP) 📈 +116%
Platypus Finance protocol is a single-side AMM designed for exchanging stable cryptocurrencies on the Avalanche blockchain.
$PTP showed modest growth and doubled its price in just under a month. Platypus is still recovering from the exploit in October, leading to massive losses in the sAVAX-AVAX pool, although good progress was made over time and they managed to recover around 90% of the funds.
5. Vector Finance (VTX) 📈 +249%
Vector enables boosted yield on Platypus and TraderJoe, even if users don’t own any PTP or JOE.
It had a run-up of around 250% in the past 30 days mostly due to the announcement of launching their sister project Breakfast Finance on the BNB chain and quickly accumulating an additional $20m TVL. With the IDO and launch coming soon with promising $CAKE rewards, DeFi degens scooped up $VTX in the CakeRush.
6. Brokkr Finance (BRO) 📈+142%
BRO is the governance and utility token of Brokkr Finance and is included in every index.
$BRO gained traction upon the news of a 45% token supply burn and the announcement of UniV3 LP Strategies.
🔺Avalanche Top Market Cap Index (+75.6%)
All Avalanche indexes are performing very well, and the Top Market Cap index is no exception.
1. Avalanche (AVAX) 📈 +132%
AVAX is used to pay transaction fees and can be staked to secure the Avalanche network.
$AVAX holds the biggest bag in the index. $AVAX has had a significant run-up this past week with gaming tokens leading the volume surge on Avalanche. $AVAX is up around 130% over this period.
2. Bitcoin (BTC) 📈 +18%
Bitcoin is the most recognized cryptocurrency. For the Index, we use wrapped BTC on Avalanche.
$BTC is heating the crypto winter and finally broke through the $41,000 resistance. Bitcoin has been on a steady upward trajectory since October when it broke through the $35,000 mark for the first time since 2022. The current bullish sentiment comes from a wave of optimism that the Fed may have reached the end of its tightening cycle with interest rates, and BlackRock’s Bitcoin ETFs (and others) are on the brink of approval.
3. Ethereum (ETH) 📈 +13%
Ethereum is the second-largest cryptocurrency by market capitalization, and we use its wrapped version on Avalanche.
$ETH generally follows $BTC price movement in the early stages of the bull run. However, things may change when the alt-season kicks in.
4. TraderJoe (JOE) 📈 +84%
Trader Joe is a multi-functional DeFi trading platform.
$JOE has been steadily climbing over the past month (+84%). They recently announced a zero-fee bridge integrated directly into Trader Joe’s UI to move $JOE across chains. Last month they announced that the $JOE token has reached its 500 million tokens total supply and daily emissions are now over.
5. Chainlink (LINK) 📈 +5%
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 year, spearheaded by their Oracle feeds and their Cross-Chain Interoperability Protocol (CCIP) launched this year. $LINK has been moving sideways over the past month (+5%) after a sharp rise from $6 to $16 in under 3 months and currently sits at just over $15.
BRO is the governance and utility token of Brokkr Finance and is included in every index.
$BRO gained traction upon the news of a 45% token supply burn and the announcement of UniV3 LP Strategies.
(💙,🧡) Arbitrum DeFi Index (+3.6%)
Arbitrum’s DeFi Index performance was nowhere close to Avalanche’s stratospheric gains. So let’s look into what went on in the Arbitrum DeFi space and the reasons behind its sluggish growth.
1. Radiant Capital (RDNT) 📈 +14%
RDNT is Radiant’s native utility token that incentivizes ecosystem participants to provide utility as dynamic liquidity providers (dLP).
$RDNT has been moving sideways for most of the last 3 months but is holding steady.
2. Pendle Finance (PENDLE) 📈 +12%
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 is up 100% over the past 3 months, with most of the price movement in early December, with a TVL increase of almost $40m.
3. PLUTUS (PLS) 📉 -35%
PLS is the native token of Plutus, an Arbitrum-native governance aggregator. It maximizes users’ liquidity and rewards while simultaneously aggregating governance.
$PLS has been in a correction since its massive rise in early November and has been in steady decline since then.
4. JonesDAO (JONES) 📉 -28%
JONES is the native token of JonesDAO. It’s part of a governance model, referred to as veJones, which is currently under development.
Similar to Plutus, $JONES has also been in a reconciliation phase since its early rise in November, hence also contributing towards the pullback in the Arbitrum DeFi Index.
(💙,🧡) Arbitrum Top Market Cap Index (+21.4%)
The Arbitrum Top Market Cap Index has performed similarly to the AVAX Top Market Cap Index since they are both spearheaded by the two giants $BTC and $ETH.
1. Bitcoin (BTC) 📈 +18%
Bitcoin is the most recognized cryptocurrency. For the Index, we use wrapped BTC on Arbitrum.
$BTC is heating the crypto winter and finally broke through the $41,000 resistance. Bitcoin has been on a steady upward trajectory since October when it broke through the $35,000 mark for the first time since 2022. The current bullish sentiment comes from a wave of optimism that the Fed may have reached the end of its tightening cycle with interest rates, and BlackRock’s Bitcoin ETFs (and others) are on the brink of approval.
2. Ethereum (ETH) 📈 +13%
Ethereum is the second-largest cryptocurrency by market capitalization, and we use its wrapped version on Arbitrum.
$ETH generally follows $BTC price movement in the early stages of the bull run. However, things may change when the alt-season kicks in.
3. MAGIC (MAGIC) 📈 +47%
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 has been in a constant uptrend over the past 90 days with close to 50% returns.
4. Arbitrum DAO (ARB) 📈 +10%
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.
Arbitrum is jokingly referred to as a stablecoin and looking at its fluctuating price movement over the last 30 days, one can see why.
5. Radiant Capital (RDNT) 📈 +14%
RDNT is Radiant’s native utility token that incentivizes ecosystem participants to provide utility as dynamic liquidity providers (dLP).
$RDNT has been moving sideways for most of the last 3 months but is holding steady.
The last month has been amazing for the Avalanche ecosystem while Arbitrum has been lagging behind. Avalanche is focusing lately on Gaming and NFTs and this move seems it paid off for now.
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