- CoinDesk 20 Index dropped 1.0% to 2428.16 in the latest trading period.
- Only one of the 20 crypto assets tracked by the index managed to post positive performance.
- AAVE (+0.2%) and BTC (-0.1%) led the market, while AVAX and BCH both fell 2.1%.
The CoinDesk 20 Index declined by 1.0% to 2428.16 since Tuesday’s 4 p.m. ET closing, according to the latest daily market update from CoinDesk Indices. Out of the 20 digital assets tracked by the index, only one managed to register positive performance during the trading period.
Market conditions remained challenging as nineteen of the twenty assets in the index posted losses. AAVE emerged as the sole gainer with a modest 0.2% increase, while Bitcoin (BTC) limited its decline to just 0.1%, performing better than most of its peers despite still finishing in negative territory.
Laggards Weigh on Index Performance
At the opposite end of the spectrum, both Avalanche (AVAX) and Bitcoin Cash (BCH) registered the steepest declines among index constituents, each dropping 2.1% during the trading period. These heavier losses among mid-cap cryptocurrencies contributed significantly to the overall index decline.
The broader market weakness follows recent volatility in cryptocurrency markets, with most digital assets unable to sustain positive momentum. Despite Bitcoin’s relatively strong performance compared to altcoins, it wasn’t enough to pull the overall index into positive territory.
About the CoinDesk 20 Index
The CoinDesk 20 is designed as a broad-based benchmark for the cryptocurrency market, providing investors with a comprehensive view of digital asset performance. The index tracks the top cryptocurrencies by market capitalization and trading volume, serving as an important barometer for the health of the overall crypto market.
Trading activity for the index takes place on multiple platforms across several global regions, making it a widely referenced benchmark for institutional and retail investors alike. The index’s diverse composition aims to capture performance across different segments of the cryptocurrency ecosystem.
✅ Follow BITNEWSBOT on Telegram, Facebook, LinkedIn, X.com, and Google News for instant updates.
Previous Articles:
- VanEck exec proposes Bitcoin-backed ‘BitBonds’ to refinance US debt
- Securitize Acquires MG Stover, Becomes Largest Digital Asset Administrator
- Musk Unfollows Crypto Influencer Fong After Baby Offer Rejection
- UK Leader Lucy Powell Becomes 7th MP Hacked on X for Crypto Scam
- BTC Outshines Market as Traders Discuss Macroeconomic Impacts