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CoinDesk 20’s Latest Change Is the Biggest Yet

Another change we’ve made was to take out stablecoins entirely from the CoinDesk 20. That doesn’t mean stablecoins aren’t an important part of the crypto ecosystem; far from it. Rather, it has to do with the fact that stablecoin prices – with the obvious exception of the luna fiasco – tend to stay around $1 and don’t give an indication of where money is going daily within crypto. If anything, it’s more of an indicator of the general market; the higher the increase in stablecoin market cap, the more money that’s going into crypto. Yet once turned into stablecoins, those funds then get traded into other assets. Thus, in a way, including stablecoins would be a form of double counting. Therefore, two major stablecoins, tether (USDT) and USD coin (USDC) were removed from the CoinDesk 20.