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CoinDesk 20 Performance Update: Index Slips 2.2% as Spot Ether ETFs Begin Trading

Declines of 5.6% in ICP and 5.2% in AVAX dragged the index down in overnight trading.

Jul 23, 2024, 2:13 p.m.
9am CoinDesk 20 Update for 2024-07-23 - laggards

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 2299.72, down 2.2% (-51.54) since yesterday's close.

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Four of 20 assets are trading higher.

Leaders: ETC (+4.1%) and MATIC (+1.5%).

9am CoinDesk 20 Update for 2024-07-23 - leaders

Laggards: ICP (-5.6%) and AVAX (-5.2%).

9am CoinDesk 20 Update for 2024-07-23 - laggards

The CoinDesk 20 is a broad-based index traded on multiple platforms in several regions globally.

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Pudgy Penguins: A New Blueprint for Tokenized Culture

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Pudgy Penguins is building a multi-vertical consumer IP platform — combining phygital products, games, NFTs and PENGU to monetize culture at scale.

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Pudgy Penguins is emerging as one of the strongest NFT-native brands of this cycle, shifting from speculative “digital luxury goods” into a multi-vertical consumer IP platform. Its strategy is to acquire users through mainstream channels first; toys, retail partnerships and viral media, then onboard them into Web3 through games, NFTs and the PENGU token.

The ecosystem now spans phygital products (> $13M retail sales and >1M units sold), games and experiences (Pudgy Party surpassed 500k downloads in two weeks), and a widely distributed token (airdropped to 6M+ wallets). While the market is currently pricing Pudgy at a premium relative to traditional IP peers, sustained success depends on execution across retail expansion, gaming adoption and deeper token utility.

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Ripple-linked XRP drops 5%, opening downside risk toward $1.70

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Traders are watching $1.80 as near-term support, with $1.87–$1.90 now the key resistance zone.

What to know:

  • XRP dropped about 5 percent from $1.91 to near $1.80 as bitcoin’s pullback sparked broad risk-off selling across high-beta tokens.
  • The slide accelerated once XRP broke below key support around $1.87 on heavy volume, erasing last week’s gains before buyers stepped in near the $1.78–$1.80 zone.
  • Traders now view $1.80 as a crucial support level, with a sustained move back above roughly $1.87–$1.90 needed to signal a corrective pullback rather than the start of a deeper decline.