CoinDesk 20 Index: bitcoin cash leads gains, some Layer 1 tokens down over 10%

CoinDesk Indices (CDI) has released its bi-weekly market update, focusing on the leaders and laggards in the CoinDesk 20 Index (CD20) and the broader CoinDesk Market Index (CMI). Compared to a week ago, only three assets in the CoinDesk 20 closed higher: bitcoin cash (BCH) is up 29 percent, dogcoin (DOGE) is up 9 percent, and litecoin (LTC) is up 0.5 percent. Bitcoin Cash is up more than four times year-over-year, but still has a market capitalization of less than 1 percent of Bitcoin (BTC).

Six assets in the CoinDesk 20 were down more than 10% last week, led by Layer 1s (NEAR), (APT), and (AVAX).The CoinDesk 20 index was down 4.3% for the week, with 17 assets falling. Bitcoin and ethereum (ETH) fell 3.8% and 5.5%, respectively, contributing to the decline.The CoinDesk 20 tracks the top digital assets and can be invested in across multiple platforms. The broader CMI includes around 180 tokens and seven crypto sectors: cryptocurrency, smart contract platforms, DeFi, culture and entertainment, computing and digitization.