Stellar and Bitcoin Cash Drive CoinDesk 20 Index Lower Over Two Days

52 minute ago 1 sources neutral

Key takeaways:

  • NEAR's sustained rally amid index decline highlights capital rotation into high-throughput layer-1s.
  • BCH's sharp divergence from recovery points to fading interest in legacy Bitcoin fork assets.
  • Altcoin volatility spikes reinforce need for active management over passive index tracking.

The CoinDesk 20 Index experienced a two-day decline, sliding from 1,941.81 on Monday to 1,862.4 by Tuesday’s close, a drop of roughly 4.1%. On Monday, only two of the 20 assets traded higher, with NEAR Protocol (NEAR) rising 3.2% and Internet Computer (ICP) inching up 0.7%. The session was dominated by laggards, led by Stellar (XLM) which plunged 8.4%, along with Aave (AAVE) down 3.9%.

Tuesday saw a broader recovery, as 15 of 20 constituents advanced. NEAR extended its rally by 15.1%, and XLM bounced back 5.7%, partially erasing the previous day’s losses. However, Bitcoin Cash (BCH) became the day’s biggest drag, shedding 10.7%, while Binance Coin (BNB) decreased 3.4%. The back-to-back sessions highlighted sharp volatility among key altcoins within the index.

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