In a significant development for cryptocurrency market infrastructure, analytics firm Nansen has officially launched the NX8 Index, a comprehensive benchmark designed to track the performance of eight major Layer 1 blockchains. This product, developed in a strategic partnership with OpenDelta, provides investors and analysts with a crucial, standardized tool for assessing the foundational layer of the digital asset ecosystem.
The index constituents include Bitcoin (BTC), Ethereum (ETH), Solana (SOL), BNB (BNB), Tron (TRX), Hyperliquid (HYPE), Avalanche (AVAX), and Sui (SUI). This selection represents a deliberate cross-section of blockchain architectures, from established pioneers like Bitcoin and Ethereum to high-throughput smart contract platforms like Solana and Avalanche, and emerging DeFi infrastructure like Hyperliquid.
Nansen CEO Alex Svanevik stated: "NX8 offers investors a simple way to diversify their investments in blockchains shaping the future of finance. Combining professional index methodology, on-chain combinability, and zero asset management fees, NX8 is designed as a core asset for long-term crypto portfolios."
The NX8 Index is the first product launched under Nansen's Joint Venture Protocol, designed to support teams building infrastructure for on-chain financial markets. Technically, the index token will launch on the Solana blockchain and leverage LayerZero's Omnichain Fungible Token (OFT) standard to enable multi-chain compatibility. Initial trading is planned on the Solana-based DEX Orca, with availability through aggregators like Jupiter, Kamino, and Dflow.
This launch addresses a long-noted gap in the market for a canonical Layer 1 benchmark. By aggregating the performance of these key networks into a single metric, the NX8 provides a unified reference point that enhances market transparency. It enables clearer analysis of whether growth is broad-based or isolated, and how different Layer 1 solutions correlate during market cycles. The index could accelerate institutional adoption by providing standardized tools for risk assessment and portfolio construction, and may eventually spur the creation of derivative financial products like index-tracking funds.
