The CoinDesk 20 Index has seen a decline, with several assets experiencing significant drops, but some assets are still trading higher.
CoinDesk 20 Performance Update: SUI Drops 5.9% as Index Trades Lower
Market Update for May 2, 2025
The CoinDesk 20 Index is currently trading at 2786.55, down 0.4% (-11.45) since 4 p.m. ET on Thursday. This represents a decline in the overall market performance, with several assets experiencing significant drops.
The CoinDesk 20 Index is a leading 'a leading cryptocurrency market index' that tracks the top 20 cryptocurrencies by market capitalization. It provides a snapshot of the overall health and performance of the broader cryptocurrency market. The index is calculated daily and updated in real-time, making it a valuable tool for investors and traders. With a focus on market capitalization, the CoinDesk 20 Index offers a comprehensive view of the cryptocurrency landscape.
Underperforming Assets
Avalanche (AVAX) was among the underperformers, falling 2.4% from Thursday’s close. Another asset that struggled was SUI, which dropped 5.9% in today’s trading session.
Sui is a blockchain platform designed for scalability and usability.
Developed by the former team at Diem (Facebook's failed digital currency project), it aims to provide a fast, secure, and user-friendly experience.
Sui uses a novel approach called 'object-oriented' programming, which allows for more efficient execution of smart contracts.
The platform is still in development, but it has gained significant attention for its potential to revolutionize the way we interact with blockchain technology.
Leaders and Laggards
On the other hand, four assets are currently trading higher. Bitcoin Cash (BCH) is leading the way with a gain of 1.8%, while Bitcoin (BTC) has seen a modest increase of 0.4%. These gains provide some relief to investors who were concerned about the overall market trend.
The CoinDesk 20 Index
The CoinDesk 20 is a broad-based index traded on multiple platforms in several regions globally. It provides a comprehensive overview of the cryptocurrency market, allowing users to track the performance of various assets in one place.
CoinDesk is a leading digital news outlet covering the intersection of cryptocurrency and traditional finance.
Founded in 2013, it provides real-time news, prices, and analysis on 'Bitcoin', 'Ethereum', and other 'cryptocurrencies'.
CoinDesk's team of experienced journalists offers in-depth coverage of the blockchain ecosystem, including regulatory developments, market trends, and technological advancements.
