Bitformance

We’re happy to announce that the Bitformance API is coming soon! We are giving out some free, early access API keys. If you’re interested in one, please contact us! *Note: this key will only work during the beta and will expire post-beta.

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In crypto, the constant influx of new projects and token emissions makes it hard for assets to maintain momentum. In December, the total market cap of the Top 200 DeFi Index soared to multi-year highs, yet the market-cap-weighted index lagged its Q1 high—a crucial insight that many overlook. While Bitcoin introduced digital scarcity, almost every other token faces relentless dilution from new entrants and supply expansions. Of course, there are exceptions—and that's where the opportunities lie. This asset class is still in its infancy, and reliable sector or index data is painfully scarce. That’s why, at @RealVision, I’ve teamed up with @BitformanceTeam to bring institutional-grade data to everyday investors. Back in December, I shared a bullish outlook for DeFi at @RealVision Pro-Crypto but cautioned that frothy price action, poor liquidity, and weak market internals posed risks. Now the DeFi index has returned to 2022/23 bear-market lows, with many of last year's winners down 60–70%. Prices are beginning to look interesting again.

The Bitformance Altcoin Season Index stands at 79, the highest in the last 365 trading days. This indicates that altcoins have been significantly outperforming Bitcoin. View it here: bitformance.com/Altcoin-Season…

Our new Sector/Subsector page is now live! View performance metrics for both equal weighted and market cap weighted versions. Find it here: bitformance.com/indexes/sectors

Market Update: Smaller cap #crypto assets have been taking it on the chin since March high of this year. The past 3 months have seen the Top 200 equal weight index fall 33% vs. the Market Cap index, which is down around 12%. This is the breakdown of the 3-month sector returns from my crypto classification framework (developed with @BitformanceTeam): ▶️Smart Contract Platform -31.58% ▶️Infrastructure -43.28% ▶️Digital World -44.13% ▶️Digital Currency -31.59% ▶️DeFi -31.15% ▶️Applications -38.33% $BTC and $ETH have held up -11% and 5%, respectively. If this is a regular mid-cycle correction we are experiencing, which I believe is likely, then expect some opportunities to be had in the mid & small caps once the market settles.

How hard is it to track the sector performance in the #crypto market? Most retail focused websites have done a lousy or half-baked job at implementing proper robust classifications. Even if you have a @Bloomberg, their classifications (which I helped build) are limited to the top 50 (which they can't even update regularly). I am working with @BitformanceTeam to develop a new taxonomy for the top 200. Following this, I will release breadth measures for the top 200 and the sectors so we can understand the technical health of the market beyond #Bitcoin Dominance. This will be available to @RealVision Pro-Crypto subscribers in the near future.