Results of the IX Digital Asset Industry Classification System (“DAICS®”) 1H 2025 Review

HONG KONG SAR –
Media OutReach Newswire – 27 June 2025 – Today, IX Asia Indexes announced the 1st 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 in a 3-tier system for each category. For Cryptocurrencies: Tier 1-Industry/ Tier 2-Sector/ Tier 3-Sub-sector; for Asset Backed Tokens: Tier 1-Asset Type/ Tier 2-Branch/ Tier 3-Sub-branch. The results are as follows:

DAICS® coin coverage: top 50 coins by average market capitalization across the past 90 days

DAICS® market capitalization coverage: 97.53%*

The % coverage of market capitalization of the 50th ranked coin: 0.060%**

Member changes within the Top 50 Coins in DAICS®: eight coins added and eight coins deleted

Additions: Hyperliquid (HYPE), Pi (PI), Bitget Token (BGB), Mantra (OM), Ondo (ONDO), Gate Token (GT), Official Trump (TRUMP), and Ethena (ENA)

Deletions: Artificial Superintelligence Alliance (ASI), Stacks (STX), Dogwifhat (WIFG), Arbitrum (ARB), ImmutableX (IMXG), Injective Protocol (INJ), Optimism (OP), Fantom (FTM): Renamed to Sonic (S)

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 18th July 2025, with market capitalization, rankings, and weightings available at
www.ix-index.com.

*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 6th June 2025

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)	78.35%
Infrastructure (120)	15.78%
Financial Services (130)	4.17%
Tech & Data (140)	0.24%
Media & Entertainment (150)	1.46%

Tier 2: Sector Changes

The number of sectors has increased from 16 to 17. There is one new sector added under the industry group “Financial Services (130)”:

Financial Asset Tokenization (13040)

Definition: Cryptocurrencies/protocols that facilitate the tokenized issuance and management of financial assets, including but not limited to real-world assets (treasuries, bonds, real estate). Emphasis is on compliance, institutional integration, fractional ownership, and financial product innovation. The crypto itself is not backed by a corresponding real-world asset.

1.2. Classification Changes

This review doesn’t have any reclassification of the existing coins. The DAICS® 1H 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. These coins rank in the top 20 percentile of the least energy-consuming cryptocurrencies out of the 50 DAICS® constituents. The top 20 percentile’s threshold is ≤ 0.005 Wh. The table below lists these low-energy coins.

Industry	Low Energy-per-transaction (≤ 0.005 Wh)
Payment (110)	DAIG USDeG KASG FDUSDG
Infrastructure (120)	NIL
Financial Services (130)	LEOG OKBG AAVEG
Tech & Data (140)	TAOG
Media & Entertainment (150)	PEPEG

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 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 branches remain unchanged at 31.

2.2. Classification Changes

This review doesn’t have any reclassification of the existing assets.

2.3. Coverage of DAICS®

IX Asia Indexes has not started classifying ABTs. As of June 6, 2025, ABTs comprised only 0.67% of the total market capitalization of digital assets, a rise from 0.11% in the 2024 2H review.

A classification summary and definition table of both cryptocurrencies and Asset Backed Tokens 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@ix index.com.

Appendix 1

Additions and Deletions in DAICS® Top 50 Cryptocurrencies

Additions

Current Rank	Cryptocurrencies
20	Hyperliquid (HYPE)
23	Pi (PI)
24	Bitget Token (BGB)
34	Mantra (OM)
35	Ondo (ONDO)
41	GateToken (GT)
43	Official Trump (TRUMP)
49	Ethena (ENA)

Deletions

Prev. Rank	Cryptocurrencies	Current Rank
29	Artificial Superintelligence Alliance (ASI)	54
37	Stacks (STX)	63
39	Dogwifhat (WIFG)	93
42	Arbitrum (ARB)	53
44	ImmutableX (IMXG)	67
47	Injective Protocol (INJ)	66
48	Optimism (OP)	59
50	Fantom (FTM), Renamed to Sonic (S)	55

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 XLM BCH LTC	PI XMR CRO KASG
		Stablecoin	USD USD DAI G	USDeG FDUSDG
	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 ADA TRX SUI AVAX TON HBAR	HYPE APT NEAR ICP ETC GT VET
		Interoperability	LINK DOT	ATOM
		Scaling & Sharding	MNT	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 LEOG BGB	UNI OKBG
		Lending & Borrowing	AAVEG
		Staking	ENA
		Financial Asset Tokenization (NEW)	OM ONDO
	Tech & Data: Provision of data management and storage, and development of innovative crypto technology	Storage & Sharing	FIL	RENDER
		Data Management	NIL
		Artificial Intelligence	TAO G
	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	PEPEG TRUMP
		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) (new)	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.
	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

Category	Asset Type	Branch	Sub -branch
Asset-Backed Tokens (2)	Culture: (205) Definition Real asset relating to sports, art, cultural drama, festive collectibles and design IPs etc.	Art (20510)	This shall be further developed in the future with more digital assets available in the market
		Sports (20520)
		Festive Collectibles (20530)
		Design IPs (20540)
		Drama and Play IPs (20550)
	Real Estate:(215) Definition Assets that mainly derived its valuation from property, real estate, and land	Commercial Property (21510)
		Residential Property (21520)
		Governmental Property (21530)
		Residential and Commercial Land (21540)
	Financials: (235) Definition Real financial asset including listed company shareholdings on regulated centralised exchanges and private company shareholdings; debt instruments; property trusts and derivatives that settled on regulated exchange (CeFi and DeFi).	Tokenised Securities (Company Securities, ETF) (23510)
		Tokenised Debts (23520)
		Tokenised REITs (23530)
	Entertainment: (255) Definition Ownership of the IPs assets in the area of entertainment in real world such as concert, play, shows, circus, musicals, songs, movies, games, events and programs, and souvenir collectibles that is derived from the above areas.	Movies (25510)	This shall be further developed in the future with more digital assets available in the market
		Songs (25520)
		Concerts (25530)
		Gaming (25540)
		All Other Entertainment Events and Collectibles (25550)
	Natural Resources: (265) Definition Natural resources asset that derived directly from sea, sky, atmosphere and underground and can be classified as a commodity with standardisation such as precious metals, agricultural, energy and metals.	Precious Metals (26510)
		Agricultural (26520)
		Energy (26530)
		Metals (26540)
	Green Economy (275) Definition Ownership of Projects Asset that falls under the definition of the UN 17SDG²s, with over 80% of the income or jobs provided on these 17 initiatives.	No Poverty & Zero Hunger (27510)	Following definition of the United Nations 17 sustainable development goals²
		Good Health and Well-Being (27520)
		Quality Education (27530)
		Gender Equality (27540)
		Clean Water and Sanitation/Affordable and Clean Energy (27550)
		Decent Work and Economic Growth/ Industry, Innovation, and Infrastructure/ Partnerships for the Goals (27560)
		Reduced inequalities/ Peace, Justice and Strong Institutions (27570)
		Sustainable Cities and Communities/Responsible Consumption and Production (27580)
		Climate Action (27590)
		Life Below Water & Life on Land (27500)

² United Nations 17 sustainable development goals covering 1) No Poverty 2) Zero Hunger 3) Good Health and Well-Being 4) Quality Education 5) Gender Equality 6) Clean Water and Sanitation 7) Affordable And Clean Energy 8) Decent Work and Economic Growth 9) Industry, Innovation and Infrastructure 10) Reduced inequalities 11) Sustainable Cities and Communities 12) Responsible Consumption and Production 13) Climate Action 14) Life Below Water 15) Life on Land 16) Peace, Justice and Strong Institutions and 17) Partnerships for the Goals
https://sdgs.un.org/goals

The issuer is solely responsible for the content of this announcement.