CoinDesk 20 Index Drops 0.6% Led by SUI 4.6% Decline

The CoinDesk 20 Index experienced a decline, currently trading at 2982.19, which represents a 0.6% decrease from its previous close at 4 p.m. ET on Wednesday. This downturn was primarily driven by the underperformance of several key assets within the index.

Among the laggards, SUI saw the most significant drop, declining by 4.6%. This substantial decrease in SUI's value contributed to the overall decline of the CoinDesk 20 Index. Additionally, Hedera (HBAR) also underperformed, with a decline of 3.5% from its previous close on Wednesday. These two assets were the primary contributors to the index's negative performance.

Despite the overall decline, there were some assets that managed to buck the trend. Bitcoin Cash (BCH) led the gains with a 2.7% increase, while Ethereum (ETH) also saw a modest rise of 0.5%. These positive performances, however, were not enough to offset the losses incurred by SUI and HBAR, resulting in the index's overall decrease.

The CoinDesk 20 Index is a broad-based index that is traded on multiple platforms across several regions globally. It serves as a benchmark for the performance of the top 20 digital assets by market capitalization, providing investors with a comprehensive view of the overall market trends.