The CoinDesk 20 Index experienced a broad-based decline, trading at 1,750.15 points, down 0.9% (-15.97) since 4 p.m. ET on Wednesday. According to CoinDesk Indices, only three of 20 assets managed to post gains during the latest trading session, highlighting the challenging market conditions across the cryptocurrency sector. The index continues to face pressure from mixed performance across different cryptocurrency assets within the benchmark.
Stellar (XLM) emerged as the standout performer, jumping 10%, while HBAR followed with a modest 0.2% increase. However, Bitcoin Cash (BCH) led the decline with a 3.1% drop, followed by Internet Computer (ICP), which fell 4.1%, and Sui (SUI), which dropped 4%. As reported by CoinDesk Indices, these movements reflect the mixed performance across different cryptocurrency assets within the index, with XLM's exceptional 10% gain providing some stability amid broader market weakness.
Market activity showed contrasting patterns in May, with combined exchange volumes falling 3.45% to $4.41 trillion, representing the lowest level since September 2024. Despite the overall decline in spot trading volumes, RWA perpetual futures volumes demonstrated resilience, rising 10.4% against the trend and hitting a new all-time high. This divergence in trading activity suggests different market dynamics between spot and derivatives markets, with futures markets showing strength despite spot market weakness.
