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.
CoinDesk 20’s Latest Change Is the Biggest Yet
