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Bitcoin Cash's 29% Advance Led CoinDesk 20 Gainers Last Week: CoinDesk Indices Market Update
All but three cryptos in the index posted losses last week, with alternative L1s NEAR, APT, and AVAX declining the most.
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).
Only three assets in the CoinDesk 20 closed higher compared to one week ago: bitcoin cash (BCH) up 29%, dogecoin (DOGE) up 9% and litecoin (LTC) up 0.5%. Bitcoin cash has gained more than 4x year-over-year, but still maintains a market cap that is less than 1% of that of bitcoin (BTC).
STORY CONTINUES BELOW
Six assets in the CoinDesk 20 weakened more than 10% this past week, led by Layer 1s (NEAR), (APT) and (AVAX).
The CoinDesk 20 Index fell 4.3% over the week, with 17 assets declining. Bitcoin and ether (ETH) contributed to this downturn, dropping 3.8% and 5.5%, respectively.
CoinDesk 20 tracks top digital assets and is investible on multiple platforms. The broader CMI 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.
