Weekly Index Highlights, September 9, 2024

CFB's Weekly Index Highlights provides a brief summary of the performance of our market-leading reference rates and indices for the period September 2, 2024 to September 8, 2024.

Ether led the large cap retreat (-9.36%) as it joins other tokens with a negative return YTD (-1.47%), leaving only Solana (+21.78) and Bitcoin (+26.93%) higher YTD.

The Finance sub-category’s recent relative outperformance faded (-3.94%) despite fair gains by 1INCH (+7.36%), UNI (+5.28%) and SUSHI (+1.68%). Meanwhile, APE’s +24.98% jump wasn’t enough to lift the Culture sub-category, leaving it down -1.49% for the week.

Ether's staking rewards have managed to reduce their YTD fall to just under -10% (-9.78) with a weekly return of +4.81%.

The overall challenging price environment equated to negative returns for all large cap indices. However, a slight YTD underperformance by the CF Broad Cap Index suggests key weakness in this series stems largely from outside the mega caps.

All CF Classification Series indices declined, though the CF Blockchain Infrastructure Index’s moderately weaker weekly underperformance than others (-4.56%) maintains its position as the worst performer YTD.

Bitcoin trimmed its moderately downward implied volatility trend (now -12.37% YTD) with a weekly rise of +4.75%.

The curve’s current flattening dynamic is reflected by the negative pricing sentiment currently evident in the market.

Index data based on CF Benchmarks Settlement Rates, published at 16:00 London Time