- Crypto Briefing’s CB10 index has doubled in value since it was created in January.
- Ethereum was the top gainer in the index, enjoying 63% monthly returns this month.
- Dogecoin and Solana entered the index replacing Filecoin and Stellar.
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Crypto Briefing’s CB10 index of the top ten cryptocurrencies weighted by market capitalization has continued to outpace Bitcoin in this bull run.
The index’s monthly reconstitution was performed at 10 am on May 3, 2021.
CB10 April Performance
CB10’s return for April stood at 11% at the time of reconstitution. The annual compounded return of CB10 is 100.7%, while the sum of individual monthly gains is 82%.
The biggest winner of the index in April was Ethereum’s native token. ETH gained 63% since the last rebalancing schedule. At the same time, Bitcoin’s price is nearly at par, around $55,000.
Filecoin was the biggest loser, down 15% from Apr. 5, as the token failed to maintain the bullish moment after a 10x rise to the peak of $237.
Steller also failed to draw the buyer’s attention last month due to a lack of DeFi adoption on the platform.
Crypto Market Trends
Bitcoin’s dominance fell below 50% for the first time in three years. Ethereum and Dogecoin took the most from Bitcoin’s share of the crypto market.
Dogecoin’s pump exhibited clear signs of a retail hype. DOGE made a new all-time high of 70 cents with a total market capitalization of $90 billion.
The extravagant rise of the high-inflationary meme coin does sound alarm bells of a bubble. However, the GameStop incident is still fresh, which reminds the market not to underestimate the power of a retail mania.
The pump in Dogecoin also caused an increase in cryptocurrencies traded on Robinhood. The American online…