The CoinDesk 20 index plummeted by 4.7% over the weekend, with all assets in the index declining in value.
The CoinDesk 20, a broad-based index of top 20 cryptocurrencies, fell by 4.7% over the weekend, with all assets in the index declining in value.
Market Performance Overview
As of 4 p.m. ET on Friday, the CoinDesk 20 Index was trading at 3068.55, marking a decline of $151.33 from its previous close. This represents a drop of 4.7% since the start of the weekend.
Leaders and Laggards
The performance of individual assets in the index is as follows:
The cryptocurrency market has experienced significant fluctuations in value since its inception.
Bitcoin, the first and most widely recognized Bitcoin, has seen a surge in value from $1,000 in January 2017 to nearly $20,000 in December 2017.
However, it plummeted to around $3,500 by 2020.
Other popular cryptocurrencies like Ethereum and Litecoin have also experienced similar volatility.
According to a report by CoinMarketCap, the total market capitalization of cryptocurrencies has grown from $100 billion in January 2017 to over $2 trillion in April 2021.
Decline Across All Assets
While the overall index is experiencing a downturn, it’s worth noting that all assets within the CoinDesk 20 are currently trading lower. This broad decline suggests a consistent market trend affecting multiple cryptocurrencies.
CoinDesk 20 is a list of top 20 cryptocurrencies by market capitalization.
The performance of these coins can be volatile, with prices fluctuating rapidly due to market demand and supply.
Historically, the CoinDesk 20 has been dominated by Bitcoin, which accounts for over 50% of the total market capitalization.
Ethereum is another prominent player in the list, often ranking second or third.
Other notable cryptocurrencies include Ripple, Litecoin, and Cardano.
Key Statistics
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Current Index Value: 3068.55
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Change since Friday close: -4.7% (-$151.33)
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Decline in individual assets:
