CoinDesk 20 Performance Update: Solana (SOL) Gains 1.4%, Leading the Index Higher
CoinDesk
The CoinDesk 20 report analyzes the 2025 divergence where structural progress outpaced stagnant token prices across major Layer-1 ecosystems.Summary
The CoinDesk 20 performance update for 2025 highlights a significant divergence where structural progress, including institutional milestones and increased Total Value Locked (TVL) across major ecosystems, contrasted sharply with stagnant or negative price returns for most large-cap Layer-1 tokens. This report analyzes this decoupling between network usage and token performance by examining ten major blockchain ecosystems. The analysis covers protocol versus application revenues, key ecosystem narratives, the mechanics driving institutional adoption, and outlines trends anticipated for 2026.
(Source：CoinDesk)