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New CoinDesk 20 List: MATIC Is In. XTZ, YFI and NU Are Out

The CoinDesk 20 ranks essentially the most closely traded belongings in crypto, as measured by greenback quantity on trusted exchanges. As such, it defines a core group of 20 digital belongings that matter most to the crypto markets. The reconstituted record, which went reside on Tuesday on the CoinDesk web site, incorporates one new asset not seen earlier than within the record: MATIC. 

MATIC is the native forex of a layer-2 community constructed on prime of the Ethereum blockchain referred to as Polygon. Polygon’s finish objective is to offer an improved consumer expertise for Ethereum decentralized purposes which are impaired by excessive fuel charges and transaction processing occasions. Polygon goals to enhance community pace and decrease the price of utilizing the Ethereum blockchain by utilizing sidechains, that are  separate blockchains anchored to Ethereum’s most important chain. It’s one in every of Ethereum’s hottest layer 2 scaling merchandise, increasing to greater than 26 million distinctive addresses thus far within the third quarter. 

Latest surges in transaction exercise on Polygon have boosted the value of MATIC. 12 months thus far, MATIC is up about 4,800%, making it one of many prime 20 digital belongings by market capitalization. Its greenback quantity over the primary half of 2021 makes it the eleventh most traded by greenback quantity within the CoinDesk 20. 

The three belongings that have been faraway from the CoinDesk 20 within the third quarter have been yearn.finance YFI, nucypher and XTZ. Aside from XTZ, which is the native cryptocurrency of the sensible contract blockchain Tezos, yearn and nucypher are ERC-20 tokens, working on the Ethereum blockchain. Half of the belongings on the CoinDesk 20 within the third quarter are ERC-20 tokens.

Right here is how each asset on the brand new CoinDesk 20, plus MATIC, carried out in July. 

For extra details about the CoinDesk 20, which is reconstituted each quarter, and the methodology behind it, learn the CoinDesk 20 methodology paper. When you have questions or feedback on the strategy, please e mail them to analysis@coindesk.com. We invite you to share your views and suggestions on the CoinDesk 20 record. 

Source: CoinDesk


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