By Jacob Joseph (All times ET unless indicated otherwise)
Even with the CoinDesk 20 index (CD20) little changed since midnight UTC, crypto markets remain under pressure. All but one member has dropped, and the outlier, bitcoin , is less than 0.1% in the green.
The index has lost 2% in 24 hours, and spot bitcoin exchange-traded fund flows were negative for a second consecutive session, with $133 million in net outflows on Wednesday. Spot ether (ETH) ETFs also posted net outflows. The second-largest cryptocurrency has lost another 0.2% since midnight.
The key development overnight was Coinbase’s (COIN) announcement that its layer-2 network, Base, will move away from the OP Stack, the open-source, modular rollup framework…
