The CoinDesk 20 Index continued its downward trajectory, trading at 1975.1, down 0.8% (-14.99) since 4 p.m. ET on Thursday, according to the latest CoinDesk Indices data. The index showed mixed performance with only three of the 20 assets trading higher, demonstrating selective strength in an otherwise challenging environment. The decline represents a slight improvement from Wednesday's 3.1% drop, indicating some stabilization in the cryptocurrency market during the latest trading session.
NEAR Protocol (NEAR) emerged as the standout performer, gaining 1%, while Hedera Hashgraph (HBAR) posted modest gains of 0.5%, as reported by CoinDesk Indices. These two assets helped offset some of the broader market weakness, demonstrating resilience in an otherwise challenging environment. The performance of these two assets, along with Stellar's previous strong showing, highlights selective strength in the crypto market despite widespread losses across other constituent assets.
Bittensor (TAO) led the decline with a sharp 4% drop, according to the latest CoinDesk Indices data, making it the primary driver of the index's overall weakness. Internet Computer (ICP) also underperformed significantly, declining 3.8%, both assets contributing substantially to the index's decline despite the positive performance of NEAR and HBAR. The substantial losses in these two major cryptocurrencies helped drive the overall index performance lower, though the overall decline was less severe than Wednesday's session.
The Depository Trust and Clearing Corporation (DTCC) revealed plans to enable tokenization of assets custodied by the Depository Trust Company (DTC) on the Stellar (XLM) blockchain, with availability expected in early 2027. This announcement caused XLM to jump 10.5%, highlighting the potential institutional adoption of the Stellar blockchain for asset tokenization. The development represents a significant milestone for Stellar's enterprise adoption prospects, though the cryptocurrency's recent performance has been mixed with both strong gains and recent declines.
