The CoinDesk 20 Index recorded a 2.8% gain, rising to 4044.63 as of 4 p.m. ET on Friday. Stellar (XLM) spearheaded the advance with a 12.3% surge, driven by large buy orders and renewed interest in network utility. Ripple’s XRP also contributed with an 8.0% increase, reflecting positive sentiment following legal resolutions impacting major tokens.
Market breadth was strong, with nineteen of twenty assets trading higher on broad volume. Even laggards such as Bitcoin experienced only marginal changes, demonstrating resilience across major cryptocurrencies. Trading data indicated that small-cap and mid-cap tokens outperformed large caps in this session.
On-chain activity revealed elevated transfers of XLM and XRP, suggesting significant accumulation by institutional traders. Network metrics for Stellar showed a 15% rise in active accounts over the past 24 hours, while XRP ledger activity increased by 12%. These on-chain indicators underscored deepening market engagement amid a favorable macro backdrop.
Analysts noted that index rebalancing ahead of August expiries may have contributed to price dynamics. Portfolio managers adjusting positions for mid-month reviews reportedly increased exposure to high-beta assets. The index’s weighting methodology amplified the impact of top performers, reinforcing momentum in leading tokens.
Looking forward, index committee representatives will monitor volatility thresholds and market-cap changes to assess potential constituent revisions. Continued performance above key moving averages could cement positive trends, while sharp drawdowns may prompt risk-off allocations to stablecoins. Market participants will track economic data releases and policy statements for signals on systemic liquidity and risk appetite.
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