CoinDesk Indices presents its daily market update, highlighting the performance of leaders and laggards in the CoinDesk 20 Index.

The CoinDesk 20 is currently trading at 2571.75, down 3.3% (-88.79) since 4 p.m. ET on Monday.

None of the 20 assets are trading higher.

Leaders: APT (-0.2%) and BCH (-0.7%).

Laggards: LTC (-5.6%) and FIL (-5.5%).

The CoinDesk 20 is a broad-based index traded on multiple platforms in several regions globally.

In case you haven’t looked, it’s Tuesday. For bitcoin traders, that could mean some big price swings.

According to Amberdata, Tuesdays have been the most volatile day of the week thus far in 2025, particularly over the past month, where realized volatility has averaged 82.

Realized volatility measures the standard deviation of returns from the market’s mean return, reflecting past price fluctuations. In contrast, implied volatility represents the market’s expectations of future price swings.

Amberdata also looked at monthly volatility and since the start of 2024, March has had the highest at 67.

Amid bitcoin’s recent 30% drawdown from its all-time high, its one-month annualized daily realized volatility nearly hit 70 versus an average of about 50. The only two other instances of similar volatility spikes occurred in March 2024, following another run to a record high (then $73,000), and in August 2024, during the yen carry trade unwind, according to Glassnode data.

Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.

BX Digital received regulatory approval from the Swiss markets regulator to operate a digital asset trading and settlement platform, becoming the first of its kind in the country, it said.

The license from the Financial Market Supervisory Authority (FINMA) allows the Zurich-based company to function as a distributed ledger technology (DLT) trading facility, streamlining transactions for tokenized financial instruments.

BX Digital will use the Ethereum blockchain to facilitate direct asset transfers without intermediaries such as central securities depositories, the company said in a press release.

This structure allows faster, lower-cost transactions while supporting trading of tokenized shares, bonds and funds among market participants including banks and securities firms.

“Regulated secondary markets have been lacking so far,“ CEO Lidia Kurt said in the statement. The license «is an important step in setting new standards for capital market efficiency and customer access in the digital asset space.”

A key feature of the system is its connection to the Swiss National Bank’s payment network, ensuring transactions settle in Swiss francs with delivery versus payment agreements. To ensure liquidity, BX Digital is working with market makers and has received strong interest from banks and issuers, according to Lucas Bruggeman, the CEO of sister company BX Swiss, .

BX Digital operates under Boerse Stuttgart Group, Europe’s sixth-largest exchange group, which sees this initiative as part of a broader push to modernize capital markets using blockchain technology. The platform has to fulfill specific regulatory conditions before it will start accepting clients.

Boerse Stuttgart Group’s CEO, Matthias Völkel, said BX Digital is only a first step and a “digital European issuance and settlement platform will follow soon.” The group earlier this year revealed crypto accounts for 25% of its revenue.

Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.