CoinDesk 20 Performance Update: Avalanche (AVAX) Gains 3.4% as Index Trades Higher

CoinDesk 20 Performance Update: Avalanche (AVAX) Gains 3.4% as Index Trades Higher

CoinDesk Indices presents its daily market update, highlighting the performance of leaders and laggards in the CoinDesk 20 Index.The CoinDesk 20 is currently trading at 4261.62, up 1.0% (+40.35) since 4 p.m. ET on Thursday.Twelve of 20 assets are trading higher.Leaders: AVAX (+3.4%) and ADA (+3.4%).Laggards: ICP (-1.0%) and LINK (-0.7%).The CoinDesk 20 is a broad-based index traded on multiple platforms in several regions globally.

Avalanche and Cardano Surge 3.4% Amid Whale Activity

The boom is strongly connected to “whales” who are large holders of cryptocurrency. Roughly 405 million ADA or more than 10% of the circulating supply of Cardano is there in the addresses. There has also been massive accumulation by Avalanche in line with the latest on-chain statistics. The history shows resemblances as the bull run in Bitcoin in 2021 began with a hoarding of whales by whales, followed by the price appreciation of 300%. August 2…

Avalanche and Cardano Show Potential for Growth Amid Rising Whale Activity · Cardano Feed

Avalanche (AVAX) and Cardano (ADA) surged by 3.4% due to increased whale activity, indicating a bullish market trend and heightened investor interest in these altcoins. Avalanche and Cardano gained 3.4% on the CoinDesk 20 index, driven by significant whale accumulation. Whale activity sug