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Results of the IX Digital Asset Industry Classification System (DAICS®) 2H 2025 Review
Kamis, 18 Desember 2025 | 09:17
HONG KONG SAR -
Media OutReach Newswire - 18 December 2025 - IX Asia Indexes today announced the 2nd Half 2025 Review of the IX Digital Asset Industry Classification System ("DAICS®"),
aiming to provide professionals worldwide with a transparent and
standardized classification scheme to determine sector and exposure of
particular digital assets. DAICS® classifies digital assets
into 2 main categories: a) Cryptocurrencies and b) Asset Backed Tokens
(ABTs) in a 3-tier system for each category. For Cryptocurrencies: Tier
1-Industry/ Tier 2-Sector/ Tier 3-Sub-sector; and for ABTs: Tier 1-Asset
Type/ Tier 2-Branch/ Tier 3-Sub-branch. The results are as follows:
- - DAICS® coin coverage: As of 3rd December, the top 50 coins by average market capitalization across the past 90 days
- - DAICS® market capitalization coverage: 96.98%*
- - The % coverage of market capitalization of the 50th ranked coin: 0.048%**
- - Member changes within the Top 50 Coins in DAICS®: eight coins added and nine coins deleted
- - Additions: Zcash (ZEC), World Liberty Financial USD (WUSD), PayPalUSD (PYUSD), Memecore (M), Worldcoin (WLD), Story (IP), Arbitrum (ARB), KuCoin (KCS)
- - Deletions: Mantra (OM), GateToken (GT), Official Trump (TRUMP), VeChain (VET), Render (RENDER), First Digital USD (FDUSD), Filecoin (FIL), Cosmos (ATOM), Algorand (ALGO)
- - 9 Green Coins labelled: Cronos (CRO), Pi (PI), Internet Computer (ICP), Hedera, Sui (SUI), Toncoin (TON), Arbitrum (ARB), Mantle (MNT), Tron (TRX)
Note:
*Special currency treatment of DAICS® applies, where any wrapped or second-level cryptocurrency is not considered in the calculation for the market capitalization of DAICS®
**Based on 3rd December 2025
G: Green Coin
The rankings of additions and deletions for the DAICS® top 50 cryptocurrencies are listed in Appendix 1. All classification changes, including the ixCrypto Infrastructure Index and ixCrypto Stablecoin index, will take effect on 23rd January 2026, with market capitalization, rankings, and weightings available at www.ix-index.com.
1. Cryptocurrencies
1.1. Structure and Definitions
Tier 1: Industry Changes
The industry groups remain unchanged, with 5 industries and the respective weightings as follows:
|
Industry
|
Weighting (%)
|
|
Payment (110)
|
73.87%
|
|
Infrastructure (120)
|
19.89%
|
|
Financial Services (130)
|
4.82%
|
|
Tech & Data (140)
|
0.22%
|
|
Media & Entertainment (150)
|
1.20%
|
Tier 2: Sector Changes
The number of sectors has increased from 17 to 18. There is one new sector added under the industry group "Tech & Data (140)":
Identification (14040)
Definition: Cryptocurrencies that facilitate decentralized identity authentication and/or blockchain-based validation of digital intellectual property rights. The classification emphasizes trust, data consent, and privacy as core architectural features while the crypto by itself is not an identity token.
1.2. Reclassification Changes
This review doesn't have any reclassification of the existing coins. The DAICS® 2H 2025 cryptocurrencies classification is available in Appendix 2.
1.3. Green Coin Label
This review identifies 9 Green Coins, classified based on their energy-per-unit-transaction, which is defined as the amount of energy consumed for a successful single unit transaction of the coin in the blockchain network. The coins selected rank in the top 20 percentile of the least energy-consuming cryptocurrencies out of the 50 DAICS® constituents. The top 20 percentile's threshold in this review is ≤ 0.150 Wh. The table below lists these low-energy coins.
|
Industry
|
Low Energy-per-transaction (≤ 0.150 Wh)
|
|
|
Payment (110)
|
CROG
PIG |
|
|
Infrastructure (120)
|
ICPG
SUIG ARBG TRXG |
HBARG
TONG MNTG |
|
Financial Services (130)
|
NIL
|
|
|
Tech & Data (140)
|
NIL
|
|
|
Media & Entertainment (150)
|
NIL
|
|
Note: G as 'Green Coin' labelling for cryptocurrencies that adhere to the principles of sustainability
2. Asset Backed Tokens (ABT)
2.1. Structure and Definitions
Tier 1: Asset Type Changes
The asset types remain unchanged at 6 as follows:
1) Culture (205),
2) Real Estate (215),
3) Financials (235),
4) Entertainment (255),
5) Natural Resources (265), and
6) Green Economy (275)
Tier 2: Branch Changes
The number of branches has increased from 31 to 32, with a new branch added under Financials (235): Tokenized funds (23540).
2.2. Classification Changes
This review doesn't have any reclassification of the existing assets.
2.3. Coverage of DAICS®
A classification summary and definition table of both cryptocurrencies and ABTs are available in Appendices 3 and 4. For further information regarding the methodology of the DAICS®, please refer to the "IX Digital Asset Industry Classification System"- principle and guiding methodology on the company website https://ix-index.com/daics.html.
For more details on DAICS® qualification criteria, please email daics@ixindex.com.
Appendix 1
Additions and Deletions in DAICS® Top 50 Cryptocurrencies
Additions
Additions
|
Current Rank
|
Cryptocurrencies
|
|
28
|
Zcash (ZEC) |
|
31
|
World Liberty Financial USD (WUSD) |
|
41
|
PayPal USD (PYUSD) |
|
45
|
MemeCore (M) |
|
46
|
Worldcoin (WLD) |
|
49
|
Story (IP) |
|
50
|
Arbitrum (ARBG) |
|
51
|
KuCoin (KCS) |
Deletions
|
Prev. Rank
|
Cryptocurrencies |
Current Rank
|
|
34
|
Mantra (OM) |
300+
|
|
41
|
GateToken (GT) |
67
|
|
43
|
OFFICIAL TRUMP |
56
|
|
45
|
VeChain (VET) |
55
|
|
46
|
Render (RNDR)
|
58
|
|
47
|
First Digital USD (FDUSDG) |
71
|
|
48
|
Filecoin (FIL) |
61
|
|
50
|
Cosmos (ATOM) |
54
|
|
51
|
Algorand (ALGO) |
52
|
G: Green Coin
Appendix 2
Classification of the Top 50 Coins by Industry and Sector
|
Category
|
Industry
|
Sector
|
Cryptocurrencies
|
|
|
Cryptocurrencies (1)
|
Payment:
Blockchain based money, designed for transactional purposes. This includes daily transactions usage and stablecoins. |
Transaction & Payment
|
BTC
XRP BCH XLM LTC |
XMR
CROG ZEC PIG KAS |
|
Stablecoin
|
USDT
USDC USDe |
DAI
WUSD PYUSD |
||
|
Infrastructure:
Bedrock blockchain that facilitates the operation of other decentralised applications. This includes the creation and running of dedicated blockchain platforms, achieving interoperability between networks, increasing the amount or speed of transactions etc |
Application Development Protocol & Smart Contract
|
ETH
SOL TRXG ADA HYPE SUIG AVAX |
HBARG
TONG NEAR ETC APT ICPG |
|
|
Interoperability
|
LINK
DOT |
ATOM
|
||
|
Scaling & Sharding
|
MNTG
ARBG |
POL
|
||
|
Supporting System
|
NIL
|
|
||
|
Financial services:
Tokens that provide on-chain asset management services, crypto-exchange services, funding, lending and other capital markets related services |
Exchange Tokens
|
BNB
LEO BGB |
UNI
OKB KCS |
|
|
Lending & Borrowing
|
AAVE
|
|
||
|
Staking
|
ENA
|
|
||
|
Financial Asset Tokenization
|
ONDO
|
|
||
|
Tech & Data:
Provision of data management and storage, and development of innovative crypto technology |
Storage & Sharing
|
NIL
|
|
|
|
Data Management
|
NIL
|
|
||
|
Artificial Intelligence
|
TAO
|
|
||
|
Identification
(NEW) |
WLD
|
IP
|
||
|
Media & Entertainment:
Recreational and media services. Including content creation and distribution, advertising through crypto-asset incentive mechanisms, gaming and collectibles |
Social Media & Community
|
DOGE
SHIB |
PEPE
M |
|
|
Streaming
|
NIL
|
|
||
|
Gaming
|
NIL
|
|
||
|
Metaverse
|
NIL
|
|
||
Note:
G as 'Green Coin' for cryptocurrencies that adhere to the principles of sustainability
NEW for newly added sector
Appendix 3
DAICS® Industry and Sector Definition
|
Category
|
Industry
|
Sector
|
Sector definition
|
|
Cryptocurrencies (1)
|
Payment: (110)
Definition Blockchain based money, designed for transactional purposes. This includes daily transactions usage and stablecoins. |
Transaction & Payment
(11010) |
Cryptocurrencies that are used for store of value, unit of account, medium of exchange
|
|
Stablecoin
(11020) |
Cryptocurrencies where price is pegged to a / a basket of, reference asset
|
||
|
Infrastructure: (120)
Definition Bedrock blockchain that facilitates the operation of other decentralised applications. This includes the creation and running of dedicated blockchain platforms, achieving interoperability between networks, increasing the amount or speed of transactions etc. |
Application Development Protocol & Smart Contract
(12010) |
layer-1 blockchain network that facilitates DApp creation and smart contract execution and smart contract
|
|
|
Interoperability
(12020) |
Network that increases inter-connectivity and integration of the fragmented cryptocurrency ecosystem
|
||
|
Scaling & Sharding
(12030) |
Networks that increase the ability to cope with the influx of
many transactions at a time and blockchain network that can be split
into smaller partitions, to improve scalability and process transactions
quicker
|
||
|
Supporting System
(12040) |
Networks/sidechains that improve functionality of layer-1 network
|
||
|
Financial services: (130)
Definition Tokens that provide on-chain asset management services, crypto-exchange services, funding, lending, and other capital markets related services |
Exchange Tokens
(13010) |
Cryptocurrencies that represent the stable coin in the exchange
ecosystem and allow users to covert from digital asset on decentralised
or centralised system int fiat currencies
|
|
|
Lending & Borrowing
(13020) |
Borrowing and lending crypto assets with interest in return and
other secondary financial tools derived from primary underlying asset,
such as crypto futures and options
|
||
|
Staking
(13030) |
Holding and "staking" of certain amount of cryptocurrency in a wallet to facilitate network operations
|
||
|
Financial Asset Tokenization (13040)
|
Cryptocurrencies/protocols that focus on the tokenized issuance and management of financial assets
|
||
|
Tech & Data: (140)
Definition Provision of data management and storage, and development of innovative crypto technology |
Storage & Sharing
(14010) |
Crypto protocols that provide decentralized storage and/or sharing of data filing and resources.
|
|
|
Data Management
(14020) |
Networks/Protocols that facilitate the indexing and querying of
data from blockchain(s), enabling efficient data retrieval and
management for decentralized applications
|
||
|
Artificial Intelligence
(14030) |
Cryptos/Protocols that facilitate the use of AI powered apps or projects directly using blockchain platform.
|
||
|
Identification
(14040) (NEW) |
Cryptocurrencies that facilitate decentralized identity
authentication and/or blockchain-based validation of digital
intellectual property rights. The classification emphasizes trust, data
consent, and privacy as core architectural features while the crypto by
itself is not an identity token.
|
||
|
Media & Entertainment: (150)
Definition Recreational and media services. Including content creation and distribution, advertising through crypto-asset incentive mechanisms, gaming and collectibles |
Social Media & Community
(15010) |
Cryptos that provides mast social community and followers without a close secondary industry sector
|
|
|
Streaming
(15020) |
Cryptos that provides rights to access decentralised video-streaming sites
|
||
|
Gaming
(15030) |
Cryptos which mainly used in gaming or gaming supporting industry
|
||
|
Metaverse
(15040) |
Cryptos that is commonly used in collective virtual open space,
created by the convergence of virtually enhanced physical and digital
reality. This includes the use of VR and/or AR and/or 3D.
|
Note: NEW for newly added sector
Appendix 4
DAICS® Asset Type and Branch Definition
