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CoinDesk 20 Hits Record as SHIB and DOGE Soar: CoinDesk Indices Market Update
All 20 cryptos in the index appreciated last week, leading to a one-week gain of 24%.
CoinDesk Indices (CDI) presents its bi-weekly market update, highlighting the performance of leaders and laggards in the benchmark CoinDesk 20 Index (CD20) and the broad CoinDesk Market Index (CMI).
The CoinDesk 20 closed on Monday at an all-time-high of 2,538 after having traded above 2,600 overnight. This index is now higher by just shy of 50% year-to-date.
STORY CONTINUES BELOW
Meme coins shiba inu (SHIB) and dogecoin (DOGE) continued to outperform among the 20 large-cap assets in the CoinDesk 20, gaining 237% and 102%, respectively. Bitcoin cash (BCH) also saw an outsized gain of 65%.
Although all 20 assets in the index are trading higher than Monday’s close last week, Layer 1 Smart Contract Platform Internet Computer (ICP) was a noticeable laggard with just a 2.1% advance.
The CoinDesk 20 tracks the world's largest and most-liquid cryptocurrencies in an investible index available on multiple platforms. The broader CoinDesk Market Index comprises approximately 180 tokens and seven crypto sectors: currency, smart contract platforms, DeFi, culture & entertainment, computing, and digitization.
Tracy Stephens
Tracy Stephens is Senior Index Manager at CoinDesk Indices, where she works to maintain the high standards of robustness and rigor of systematic trading found in traditional finance in index and data products. Before transitioning into crypto, she built systematic macro-trading strategies as a quantitative researcher at Alliance Bernstein, one of the largest asset managers in the U.S., and at Citibank. Tracy holds a Bachelor's degree in Math from Barnard College and a Master's degree in Data Science from the University of California, Berkeley.
