CoinDesk 20 Index Gauges Broader Market Strength, Outperforming Bitcoin's 6% Rise to $74,600

By Omkar Godbole. Updated Nov 6, 2020 at 18:18 UTC.

CoinDesk 20 Index rose 10% to $3,000 on Saturday, outperforming bitcoin's 6% gain to $74,600. Among the index's components, Solana's SOL rose 10%, while Avalanche's AVAX and ChainLink's LINK both advanced about 8.5%.

On the other hand, Ripple's XRP and Polkadot's DOT lagged behind, rising less than 4%.

The CoinDesk DeFi Index (DCF) advanced 20.4% during the day, outperforming the rest of the market. Matching UNI's rally, native tokens of decentralized money market Aave (AAVE) and liquid staking protocol Lido (LDO) also advanced 20%-30%.

The DeFi sector has been a particular target of the U.S. regulatory apparatus, with業者 in April receiving a Wells Notice of coming possible enforcement action by the Securities and Exchange Commission and in September agreeing to pay $175,000 to settle Commodity and Futures Trading Commission charges that it offered illegal leveraged and margined commodities transactions.

UPDATE (Nov. 6, 18:18 UTC): Adds DeFi sector performance, analyst comment and context throughout the story.

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