India’s first index of global
cryptocurrencies launched
By Amit Srivastava
IC15, India’s first index of
global cryptocurrencies has been launched this week which will track the performance
of the top 15 Cryptocurrencies that are listed on crypto exchanges across the world.
The index IC15 will track cryptocurrencies based on their market capitalization
and liquidity. It is a rule-based broad market index.
A well-known financial content
provided TickerPlant’s cryptocurrency app CrypoWire has launched country’s first
index of global cryptocurrencies. As per the company, it is a rule-based broad
market index by market capitalization that will track the performance of the
top 15 most traded liquid cryptocurrencies listed on exchanges across the
world.
The top 15 popular cryptocurrencies
Bitcoin, Ethereum, Bitcoin Cash, Chainlink, Polkadot, Cardano,
Litecoin, Avalanche, Binance Coin, Solana, XRP, Shiba Inu,
Terra, Uniswap, and Dogecoin would make in the list.
The base value of the Index has
been set at 10,000 and the base date is April 1, 2018. However, at the beginning
of the New Year, January 1, 2022, the index open value was 71,463.30 points. It
means that the index has already around 600 percent in two years.
The index will be rebalanced after
a review four times a year. It will be monitored and following a review on 15
of March, June, September, and December.
As per the CryptoWire, the index will help fund managers as they can track the performance of cryptocurrencies. They can be linked with products such as crypto ETFs and other financial funds. It means that soon there will be a life insurance policy linked with cryptocurrency.
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