Leading market intelligence firm MacroHive has identified a crypto industry that is growing exponentially and outpacing others in terms of growth value.
UK-based market research firm MacroHive has created four indices that the company believes capture popular cryptocurrency use cases.
Except for Bitcoin, every index consists of five tokens/coins that represent the market value of a particular theme or industry.
The industry, which ranks above all others, is unsurprisingly, according to MacroHive. metaverse became the industry.
“By far the best performing area this year has been the metaverse. This year it has grown by a whopping 37,000% and has gained 20% in just the last seven days.”
MacroHive, the play-to-win game of the metaverse index Axie Infinity (AXS), Ethereum-based virtual world The Sandbox (SAND)stated that it consists of virtual reality platform Decentraland (MANA), blockchain gaming platform Enjin Coin (ENJ), and player-controlled game Gala (GALA).
The next best-performing index was the smart contract space comprised of Ethereum, Solana (SOL), Cardano (ADA), Avalanche (AVAX), and Polkadot (DOT). The smart contract index has increased by 2,355% this year, according to MacroHive.
The third place on the list is the decentralized finance (DeFi) index. For the DeFi index, which is up 584% this year, MacroHive, lending and borrowing protocol Aave (AAVE), stablecoin governance token Maker (MKR), smart contract DeFi platform Compound (COMP), decentralized exchange Uniswap (UNI), and automated market maker PancakeSwap’ He chose I (CAKE).
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