Global cryptocurrency super app Cryptowire has launched a crypto index in India to monitor the performance of the 15 most traded cryptocurrencies, listed on leading exchanges in the world. The cryptocurrency index is known as IC15
Cryptowire is a special business unit of crypto statistics provided TickerPlant. In a statement, the company said the index is aimed at increasing awareness and knowledge of the cryptocurrency and blockchain ecosystem.
It added that the index will help investors understand how virtual coin trading works. The development comes at a time when cryptocurrency trade has seen a massive jump in India, with more retail investors showing interest in virtual currencies despite concerns around regulation
HOW WILL INDEX IC15 WORK?
It may be noted that the IC15 index comprises a governance committee (IGC) that includes domain experts, industry practitioners as well as academicians. They will be in charge of monitoring and maintaining the index, including reshuffling of the top 15 cryptos.
Jigish Sonagara, Managing Director and CEO of CryptoWire, said, “Our approach is to facilitate market development and mitigate risk to a great degree by presenting all possible tools to evaluate possibilities and make decisions
INDEX IC15-OBJECTIVE
The objective of the IC15 index is to provide insights into index-linked products such as crypto ETFs and funds. It will also help provide information about crypto mining and the overall cryptocurrency market.
It will help investors understand crucial details about the cryptocurrency ecosystem and also provide solutions for diversified investments in cryptos.
It will not only help crypto investors, but also enthusiasts and investment managers, given the fact that it is a fundamental crypto market tracking index that will provide a overall reflection of global markets
LAUNCHED
Cryptocurrency app Cryptowire has now launched a crypto index in India to monitor the 15 most traded cryptocurrencies in the world. The cryptocurrency index known as IC15 will analyse and monitor the performance of the top coins listed on leading exchanges in the world. According to a press release from the company, the launch of the index is intended to escalate awareness and knowledge around the crypto and blockchain ecosystem among fresh investors.
Cryptowire is a special business unit (SBU) of crypto statistics provided TickerPlant. The index aimed at increasing awareness about the ecosystem will help investors understand how virtual coin trading works. The launch comes after indexes across the world saw cryptocurrency trade take a massive jump in India, despite concerns around fresh regulations over it. Meanwhile, the company also informed that the governance committee of the IC15 index comprises domain experts, industry practitioners, as well as academicians
India’s first cryptocurrency index launched
With the launch, IC15 has become India’s first cryptocurrency index. According to the company, a cryptocurrency can be listed on the index, only if it trades on at least 90 per cent of the trading days during the review period. The token should remain in the top 50 in terms of circulating market capitalisation during the preceding month.
Top coins on the crypto index
As of now, top coins like Bitcoin, Ethereum, Binance Coin and Solana, occupies the four leading positions in the index. Apart from the top four, the index will also see coins like XRP, Bitcoin Cash, Cardano, Litecoin, Chainlink, Polkadot, Uniswap, Terra and Avalanche on it. Meanwhile, meme coins Dogecoin and Shiba Inu will complete the list of the top 15 cryptos on the CryptoWire index
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