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CoinDesk 20 Hits Record as SHIB and DOGE Soar: CoinDesk Indices Market Update
All 20 cryptos in the index appreciated last week, leading to a one-week gain of 24%.
Updated Mar 8, 2024, 10:40 p.m. Published Mar 5, 2024, 5:17 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 closed on Monday at an all-time-high of 2,538 after having traded above 2,600 overnight. This index is now higher by just shy of 50% year-to-date.
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Meme coins shiba inu and dogecoin continued to outperform among the 20 large-cap assets in the CoinDesk 20, gaining 237% and 102%, respectively. Bitcoin cash also saw an outsized gain of 65%.
Although all 20 assets in the index are trading higher than Monday’s close last week, Layer 1 Smart Contract Platform Internet Computer was a noticeable laggard with just a 2.1% advance.
The CoinDesk 20 tracks the world's largest and most-liquid cryptocurrencies in an investible index available 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.
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Solana CME Futures Fell Short of BTC and ETH Debuts, but There's a Catch
When adjusted for asset market capitalization SOL's relative futures volume looks better, K33 Research noted.
What to know:
- Solana's SOL futures began trading on the Chicago Mercantile Exchange (CME) on Monday, with a notional daily volume of $12.3 million and $7.8 million in open interest, significantly lower than the debuts of bitcoin (BTC) and ether (ETH) futures.
- Despite the seemingly lackluster debut, when adjusted to market value, SOL's first-day figures are more in line with BTC's and ETH's, according to K33 Research.
- Despite the bearish market conditions, the launch of CME SOL futures offers new ways for institutions to manage their exposure to the token, said Joshua Lim of FalconX.
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