The CoinDesk 20 index fell 2.9% over the weekend, driven by significant price drops in Polkadot and Cardano. The index, which tracks 20 major digital assets, fell to 1,974.81 from its Friday close of 4 p.m. ET.
Polkadot (DOT) emerged as the primary laggard, shedding 11.5% of its value. Cardano (ADA) also saw heavy selling, dropping 6.8% during the same period.
Market-wide decline
Every constituent within the CoinDesk 20 index traded lower during the weekend session. The decline represents a total loss of 59.17 points for the index since Friday afternoon.
While the broader index struggled, some assets showed relative stability. NEAR Protocol held steady with 0.0% change, while AAVE saw only a marginal decline of 0.1%.
Large-scale movements in other sectors of the market occurred simultaneously. A whale transaction involving nearly $120 million worth of XRP was recently detected moving to Coinbase.
Market analysts at Bitmine also noted shifts in Ethereum holdings. Chairman Tom Lee referred to Ether as a 'wartime store of value' as the firm's holdings reached 4.87 million tokens.
