HomeBusinessIndex Markets Experience Significant Decline Amid Global Economic Uncertainty

Index Markets Experience Significant Decline Amid Global Economic Uncertainty

Published on

Article NLP Indicators
Sentiment -0.90
Objectivity 0.80
Sensitivity 0.50

The CoinDesk 20, a broad-based index of 20 assets, has plummeted by 13.5% in the past 24 hours, with all assets trading lower. A sharp reversal from the previous day’s performance, this decline marks a significant challenge for the cryptocurrency market.

DOCUMENT GRAPH | Entities, Sentiment, Relationship and Importance
You can zoom and interact with the network

CoinDesk 20 Performance Update: Index Plunges 13.5% as All Assets Trade Lower

The ‘a broad-based index of 20 assets’ has plummeted by 13.5% in the past 24 hours, with all assets trading lower.

DATACARD
What is CoinDesk 20?

CoinDesk 20 is a ranking of the top 20 cryptocurrencies by market capitalization.

It provides an overview of the largest and most influential digital assets in the cryptocurrency space.

The ranking is updated regularly to reflect changes in market value and is widely followed by investors, traders, and industry professionals.

Top Performers and Underperformers

Litecoin (LTC) was the top underperformer, declining 19.7% from Friday‘s close. Bitcoin (BTC) and ICP also fell, with BTC dropping by 8.4% and ICP losing 11.0%. On the other hand, some assets managed to hold their ground, but none of the 20 assets in the index are trading higher.

DATACARD
Litecoin Performance Overview

Litecoin is a peer-to-peer cryptocurrency and open-source software project.
It was created by Charlie Lee in 2011 as a spin-off of the Bitcoin protocol.
Litecoin has faster transaction processing times compared to 'Bitcoin' , with an average block time of 2.5 minutes versus 'Bitcoin's' 10 minutes.
This allows for more frequent transactions per day.
Additionally, Litecoin has a larger total supply of coins (84 million) than Bitcoin (21 million).

index_markets,coin_desk_20,cryptocurrency_market,decline,asset_performance,global_economic_uncertainty

Index Details

The CoinDesk 20 is currently trading at 2173.26, down 338.56 from its Friday close. This significant decline marks a sharp reversal from the previous day’s performance, which saw the index rise by ‘2.1%’.

Asset Performance

The performance of individual assets in the index varies widely. LTC and SUI were the biggest losers, with LTC falling 19.7% and SUI dropping by 18.5%. ICP also underperformed, losing 11.0%, while BTC fell by 8.4%. The rest of the assets in the index traded lower, with none managing to close higher.

Market Trends

The ‘CoinDesk 20 is a widely followed index that provides a snapshot of the broader cryptocurrency market’ . Its performance can be seen as a barometer for the overall health of the industry. As such, its decline serves as a reminder of the ongoing challenges facing the market.

SOURCES
The above article was written based on the content from the following sources.

IMPORTANT DISCLAIMER

The content on this website is generated using artificial intelligence (AI) models and is provided for experimental purposes only.

While we strive for accuracy, the AI-generated articles may contain errors, inaccuracies, or outdated information.We encourage users to independently verify any information before making decisions based on the content.

The website and its creators assume no responsibility for any actions taken based on the information provided.
Use the content at your own discretion.

AI Writer
AI Writer
AI-Writer is a set of various cutting-edge multimodal AI agents. It specializes in Article Creation and Information Processing. Transforming complex topics into clear, accessible information. Whether tech, business, or lifestyle, AI-Writer consistently delivers insightful, data-driven content.

TOP TAGS

Latest articles

The link between Brazilian diet and premature mortality due to consumption of ultra-processed foods.

A groundbreaking study reveals a shocking link between the consumption of ultraprocessed foods and...

The Diet of Crickets: Uncovering Their Eclectic Eating Habits

Uncover the fascinating world of crickets and their eclectic eating habits, from fruit and...

Sunday Morning with Comedian Ellie Taylor

Meet Ellie Taylor, the UK's most respected female comedian, as she shares her Sunday...

Unlocking the Secrets of Wellness with Miranda Kerr: Crystal Healing, Nutrient-Rich Juices, and Sustainable Beauty Practices

Discover the secrets behind Miranda Kerr's wellness approach, from crystal healing and nutrient-rich juices...

More like this

Growing Human Teeth in a Laboratory Environment for Potential Transplantation

Scientists at King's College London have made a groundbreaking discovery, successfully growing a human...

Unleashing the Force: Exclusive Star Wars Merchandise Arrives at Disney Store

Exclusive Star Wars merchandise arrives at Disney Store, featuring limited-edition items that will make...

The Hidden Health Toll of Ultra-Processed Foods in the UK

The UK's reliance on ultra-processed foods is having a devastating impact on public health,...