Coin Edition -
- Bitcoin and Ethereum dominate Coinbase (NASDAQ:COIN) 50 Index, with significant market weight.
- New index additions like AXS, JASMY show strong growth, attracting investor interest.
- Altcoins like XRP, Solana, and Dogecoin display varied price movements and trends.
The Coinbase 50 Index, a key measure of the largest digital assets, has expanded. While Bitcoin and Ethereum still dominate the index, new additions include altcoins Axie Infinity (AXS), Blur (BLUR), JasmyCoin (JASMY), Kusama (KSM), and MultiversX (EGLD), that have joined the rally.
This expansion highlights the growing interest in a wider range of assets, providing investors with more exposure to diverse crypto projects. The updated index reflects current market trends.
Bitcoin and Ethereum Still Dominate
According to Colin Wu, a Chinese reporter, Bitcoin (BTC) remains the highest-weighted asset in the Coinbase 50 Index, holding a 47.50% weight. Ethereum (ETH) ranks second, with a 22.99% weight.
These two cryptocurrencies continue to drive overall market performance. As the primary players, Bitcoin and Ethereum’ price movements significantly impact the index.
Coinbase 50 Index adds AXS, BLUR, JASMY, KSM, EGLD. Currently, BTC has the highest weight, reaching 47.50%; ETH ranks second with a weight of 22.99%; XRP, Solana and Dogecoin rank third to fifth with weights of 7.69%, 5.66% and 3.19% respectively. The Coinbase 50 Index tracks the…— Wu Blockchain (@WuBlockchain) December 5, 2024
New Additions and Notable Performances
While Bitcoin and Ethereum remain dominant, new additions attract attention. Axie Infinity (AXS), for example, has a live price of $9.37, despite a 1.88% decline in the last 24 hours.
Read also: Coinbase to Witness 50% Drop in Yearly Revenue According to CEO
Blur (BLUR), which holds a price of $0.43, is also down by 1.66%. JasmyCoin (JASMY), on the other hand, has seen a remarkable 23.31% increase in the last 24 hours, bringing its price to $0.0489. This surge highlights the asset’s strong performance and growing investor interest. Similarly, MultiversX (EGLD) has seen a steady gain of 3.89%, reaching a price of $56.83.
Altcoins Gaining Traction XRP, Solana, and Dogecoin
The latest price movements for several other notable cryptocurrencies, such as XRP, Solana, and Dogecoin, reflect an ongoing trend in the market. XRP is currently trading at $2.48, down by 5.91%. Solana, priced at $236.46, has seen a modest increase of 0.32%. Meanwhile, Dogecoin (DOGE) continues to make waves, up by 4.58% at $0.44.
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