IC15, India's First Cryptocurrency Index, Launched by CryptoWire; Here's Everything You Need to Know
CryptoWire, the global crypto super application which is a special business unit of TickerPlant, has launched India's first index of cryptocurrencies. Called IC15, this index tracks performances of the top 15 most widely traded and liquid cryptocurrencies listed on leading crypto exchanges of the world by market capitalisation
CryptoWire, the global crypto super application which is a special business unit of TickerPlant, has launched India's first index of cryptocurrencies. Called IC15, this index tracks performances of the top 15 most widely traded and liquid cryptocurrencies listed on leading crypto exchanges of the world by market capitalisation.
Over the past years, cryptocurrencies haveĀ emerged as an asset class in themselves,Ā gaining wider acceptance and drawing people's interests. An index that captures over 80 per cent of market movement is, thus, aĀ fundamental market tracking and assessing tool to base decisions on and enhance transparency.
CryptoWire's Index Governance Committee,Ā comprising domain experts, industryĀ practitioners, and academicians, will maintain,Ā monitor, and administer the index whileĀ rebalancing it every quarter. The Base Value ofĀ the index is set at 10,000 and the base date isĀ April 1, 2018. Ā Ā India is All Set to Become Crypto Powerhouse after China!
Bitcoin, Ethereum, XRP, Bitcoin Cash, Cardano,Ā Litecoin, Binance Coin, Chainlink, Polkadot,Ā Uniswap, Dogecoin, Solana, Terra, Avalanche,Ā and Shiba Inu will be the constituents of IC15.
Launching IC15, CryptoWire Managing DirectorĀ and CEO Jigish Sonagara said, "With the launchĀ of India's first index of crypto IC15, we intend toĀ complete the knowledge circle for the entireĀ crypto and blockchain eco-system. This will notĀ only push the 'learn before earn' initiative butĀ also serve the industry with yet another powerfulĀ intervention. At CryptoWire, our approach is toĀ facilitate market development and mitigate riskĀ to a great degree by presenting all possible toolsĀ to evaluate possibilities and make decisions."
The Mumbai-based company said IC15 has beĀ designed to provide insights into crypto mining Ā and the true benchmark and a mirror of theĀ underlying crypto market, a barometer of theĀ industry in a sense, with a diversifiedĀ representation of overall market sentiments.
It presents an easy solution to follow for having aĀ diversified portfolio, acts as a performanceĀ benchmark for fund managers, facilitatesĀ accurate replication of the index, and be theĀ preferred index for the creation of index-linkedĀ products like index funds, ETFs among others,Ā and positions the index for efficient derivativesĀ trading in the cryptocurrency tradingĀ marketplace, CryptoWire said. Ā These Indian Crypto-Startups Are Making a Buzz Worldwide
The index enables crypto enthusiasts, investors,Ā and investment managers to monitor theĀ performance of cryptocurrencies in the globalĀ markets.
(The above story first appeared on LatestLY on Jan 06, 2022 09:01 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).
