As a whole, crypto fared far worse than equities in the week following the CPI data release. The CoinDesk Market Index (CMI), a cap-weighted index of 148 of the largest cryptocurrencies, slid 13.5% during those seven days. Here, too, we find variances based on sector. The CoinDesk Smart Contract Platform Index (SMT) – which includes the likes of ether (ETH), Cardano’s ADA, and Solana’s SOL – tumbled 19.8%. To be sure, a sizable portion was due to ether’s post-Merge drop and not just because of general market conditions, though other assets in the index fell due to the sell-off as well.
Source: https://www.coindesk.com/business/2022/09/25/how-crypto-sectors-are-trading-through-the-dollar-strength-tsunami/?utm_medium=referral&utm_source=rss&utm_campaign=headlines