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Aptos Soars 16%, Leading CoinDesk 20 as Broader Market Declines: CoinDesk Indices Market Update
Eighteen out of 20 cryptos in the index posted losses last week, led by Polkadot's 15% fall.
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).
Eighteen out of the 20 assets in the CoinDesk 20 weakened over the course of this week. One exception is Aptos (APT), which gained 16% and reached a record high market cap above $6 billion.
STORY CONTINUES BELOW
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Three constituents slipped more than 10%, led Polkadot's (DOT) 15% decline and Cardano's (ADA) 13% drop. The CoinDesk 20's weighted return for the week was a negative 5.4%, with bitcoin (BTC) dropping 5.1%.
Among the broader CoinDesk Market Index, Layer 1 Smart Contract Platform Fantom (FTM) rose 40% ahead of the network’s Sonic upgrade, which is intended to increase transaction processing speeds.
The CoinDesk 20 tracks top digital assets and is investible 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.
