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SHIB's 106% Move Higher Led CoinDesk 20 Gainers Last Week: CoinDesk Indices Market Update
Bitcoin cash and ethereum classic also posted significant gains as all 20 cryptos in the gauge appreciated.
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).
Meme coin shiba inu (SHIB) continues to see outsized gains among the CoinDesk 20, more than doubling in value so far this week and now up nearly 2.5x month-to-date. Bitcoin cash (BCH) and ethereum classic (ETC) have also emerged this week as outperformers, up 38% and 28%, respectively.
STORY CONTINUES BELOW
ChainLink (LINK) and Avalanche (AVAX) have been laggards, gaining only 1.4% and 4.5%, respectively.
Among the 189 members of the broad market CoinDesk Market Index, pepecoin (PEPE) continued its surge, now higher by six-fold over the past month.
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.
