Sui and Polygon drive the CoinDesk 20 Index higher, with Sui and Polygon leading the charge as the top performers of the day.
Sui and Polygon Drive CoinDesk 20 Higher
The CoinDesk 20 Index gained 2.1% from Monday, with Sui and Polygon leading the charge.
Top Performers of the Day
_“Sui (SUI) and Polygon (POL) have seen significant gains, rising by 7.5% each.” This surge has contributed to the overall increase in the CoinDesk 20 Index.
Sui is a blockchain platform developed by Mysten Labs, aiming to provide fast and scalable smart contracts.
It uses a novel approach called 'object-capability model' to enable secure and efficient execution of smart contracts.
Sui's architecture separates the contract code from its data, allowing for better scalability and security.
The platform also supports multiple programming languages, including Rust and C++.
Sui is still in development, but it has gained attention for its potential to improve blockchain performance.
Market Overview
The CoinDesk 20 Index is currently trading at 2556.62, up 2.1% since Monday‘s close. The index comprises 15 out of its 20 assets, with 15 trading higher and only 5 trading lower.
Index Composition and Performance
The CoinDesk 20 is a broad-based index that tracks the performance of various cryptocurrencies across multiple platforms globally. Its composition includes a mix of established players and newer entrants in the market.
Current Market Trends
Fifteen out of the 20 assets in the CoinDesk 20 Index are currently trading higher, indicating a positive trend in the market. However, some assets, such as FIL (-4.5%) and XLM (-1.6%), have seen losses.
