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CoinDesk 20 Performance Update: RNDR's 12% Gain Leads as Index Rebounds
CoinDesk 20 Index jumped 4.4% fueled by RNDR's 12.6% rise and NEAR's 7.7% advance.
Jul 26, 2024, 1:38 p.m.
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CoinDesk Indices presents its daily market update, highlighting the performance of leaders and laggards in the CoinDesk 20 Index.
The CoinDesk 20 is currently trading at 2263.97, up 4.4% (+95.43) since yesterday's close.
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Nineteen of 20 assets are trading higher.
Leaders: RNDR (+12.6%) and NEAR (+7.7%).
Laggards: XRP (-0.1%) and ICP (+1.1%).
The CoinDesk 20 is a broad-based index traded on multiple platforms in several regions globally.
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Compass Point and Canaccord call BitGo a potential acquisition target and defend the stock despite its weak debut, citing growth in institutional crypto infrastructure.
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- Wall Street analysts say BitGo’s expansion into full-service institutional crypto finance could drive long-term growth and make it an attractive acquisition target for traditional financial firms.
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- Despite BitGo’s stock falling more than 40% since its January IPO, some analysts view the selloff as an overreaction and maintain buy ratings, citing the company’s solid competitive moat and strategic value to big banks entering crypto.
