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Aptos Soars 16%, Leading CoinDesk 20 as Broader Market Declines: CoinDesk Indices Market Update

Aptos Soars 16%, Leading CoinDesk 20 as Broader Market Declines: CoinDesk Indices Market Update

Aptos Soars 16%, Leading CoinDesk 20 as Broader Market Declines: CoinDesk Indices Market Update

Eighteen out of 20 cryptos in the index posted losses last week, led by Polkadot's 15% fall.

Eighteen out of 20 cryptos in the index posted losses last week, led by Polkadot's 15% fall.

Eighteen out of 20 cryptos in the index posted losses last week, led by Polkadot's 15% fall.

By Tracy Stephens
AccessTimeIconMar 22, 2024, 2:52 PM
Updated Mar 22, 2024, 3:04 PM
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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).

Eighteen out of the 20 assets in the CoinDesk 20 weakened over the course of this week. One exception is Aptos (APT), which gained 16% and reached a record high market cap above $6 billion.

Three constituents slipped more than 10%, led Polkadot's (DOT) 15% decline and Cardano's (ADA) 13% drop. The CoinDesk 20's weighted return for the week was a negative 5.4%, with bitcoin (BTC) dropping 5.1%.

Among the broader CoinDesk Market Index, Layer 1 Smart Contract Platform Fantom (FTM) rose 40% ahead of the network’s Sonic upgrade, which is intended to increase transaction processing speeds.

STORY CONTINUES BELOW

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The CoinDesk 20 tracks top digital assets and is investible 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.

Edited by Stephen Alpher.

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CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Tracy Stephens

Tracy Stephens is a Senior Index Manager at CoinDesk Indices.

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