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Solana and Cosmos Lead CoinDesk 20 Higher: CoinDesk Indices Market Update
Ether significantly underperformed as 16 out of 20 assets posted gains last week.
May 7, 2024, 4:21 p.m.
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CoinDesk Indices (CDI) presents its bi-weekly market update, highlighting the performance of leaders and laggards in the benchmark CoinDesk 20 Index (CD20) and the broad CoinDesk Market Index (CMI).
The CoinDesk 20 gained 2.7% over the past week, with 16 of the 20 cryptos in the gauge closing higher. This recovery comes after a tumultuous month of April, in which the index lost more than 25% of its value.
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Leading the move higher was Cosmos and Solana , which strengthened 15% and 13%, respectively.
Ether was a notable underperformer over the past week, falling 3.4% as optimism waned over approval of a spot ETF.
CoinDesk 20 tracks top digital assets and is investible on multiple platforms. The broader CMI comprises approximately 180 tokens and seven crypto sectors: currency, smart contract platforms, DeFi, culture & entertainment, computing, and digitization.
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'We do not do illegal things': Inside a U.S.-sanctioned stablecoin issuer's race to build a crypto giant
Oleg Ogienko, the public face of A7A5, pitched the ruble-pegged stablecoin as a fast-growing trade rail built to move money across borders despite sanctions pressure.
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- Oleg Ogienko, the public face of ruble-denominated stablecoin issuer A7A5, insists the firm complies fully with Kyrgyz regulations and international anti-money-laundering standards despite extensive U.S. sanctions on its affiliates.
- A7A5, whose issuing entities and reserve bank are sanctioned by the U.S. Treasury, has grown faster than USDT and USDC and aims to handle more than 20 percent of Russia’s trade settlements, primarily serving businesses in Asia, Africa and South America trading with Russian partners.
- Ogienko said that he and his team were developing partnerships with blockchain platforms and exchanges during Consensus in Hong Kong, though declined to name specifics.
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