CoinDesk 20 Index Drops 1.0% Led by AAVE's 5.3% Decline

The CoinDesk 20 Index experienced a decline, currently trading at 2547.72, which marks a 1.0% decrease from its previous close at 4 p.m. ET on Wednesday. This downturn is primarily attributed to the significant drop in the value of AAVE, which fell by 5.3%. Additionally, LINK also contributed to the index's decline, decreasing by 4.7%.

Despite the overall decline, two assets within the index showed positive performance. SUI led the gains with a 1.0% increase, followed by ADA, which rose by 0.2%. These gains, however, were not sufficient to offset the losses incurred by AAVE and LINK, resulting in the overall decrease of the CoinDesk 20 Index.

The CoinDesk 20 Index is a comprehensive benchmark that tracks the performance of 20 leading digital assets. It is traded on various platforms across multiple regions, providing a broad representation of the digital asset market. The index's performance is influenced by the price movements of its constituent assets, with AAVE's decline being the most significant factor in the recent downturn.