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SHIB's 106% Move Higher Led CoinDesk 20 Gainers Last Week: CoinDesk Indices Market Update
Bitcoin cash and ethereum classic also posted significant gains as all 20 cryptos in the gauge appreciated.
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).
Meme coin shiba inu continues to see outsized gains among the CoinDesk 20, more than doubling in value so far this week and now up nearly 2.5x month-to-date. Bitcoin cash and ethereum classic have also emerged this week as outperformers, up 38% and 28%, respectively.
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ChainLink and Avalanche have been laggards, gaining only 1.4% and 4.5%, respectively.
Among the 189 members of the broad market CoinDesk Market Index, pepecoin continued its surge, now higher by six-fold over the past month.
The CoinDesk 20 tracks the world's largest and most-liquid cryptocurrencies in an investible index available on multiple platforms. The broader CoinDesk Market Index comprises approximately 180 tokens and seven crypto sectors: currency, smart contract platforms, DeFi, culture & entertainment, computing, and digitization.
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Bitcoin is all over the place ahead of U.S. inflation data
U.S. inflation data for November, expected to show a 3.1% increase in CPI, could influence Federal Reserve interest rate decisions.
What to know:
- Bitcoin's price fluctuated between $$86,000 and $90,000 in the last 24 hours, reflecting market uncertainty.
- U.S. inflation data for November, expected to show a 3.1% increase in CPI, could influence Federal Reserve interest rate decisions.
- Crypto markets face additional pressure from potential MSCI index exclusions, which could lead to significant outflows.
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