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Solana and Cosmos Lead CoinDesk 20 Higher: CoinDesk Indices Market Update

Ether significantly underperformed as 16 out of 20 assets posted gains last week.

By Tracy Stephens|Edited by Stephen Alpher

Updated May 7, 2024, 4:21 p.m. Published May 7, 2024, 4:21 p.m.

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 gained 2.7% over the past week, with 16 of the 20 cryptos in the gauge closing higher. This recovery comes after a tumultuous month of April, in which the index lost more than 25% of its value.

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Leading the move higher was Cosmos (ATOM) and Solana (SOL), which strengthened 15% and 13%, respectively.

Ether (ETH) was a notable underperformer over the past week, falling 3.4% as optimism waned over approval of a spot ETF.

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.

CoinDesk 20

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.