India Gets Its First Crypto Index To Monitor The Performance Of Bitcoin, Ethereum, Shiba Inu, Other Major Coins

Share this

The top 15 components of IC15 would be Bitcoin, Ethereum, Bitcoin Cash, Chainlink, Polkadot, Cardano, Litecoin, Avalanche, Binance Coin, Solana, XRP, Shiba Inu, Terra, Uniswap and Dogecoin.

CryptoWire, the cryptocurrency app of Mumbai-based financial content provider TickerPlant, has launched India’s first global cryptocurrency index called IC15. The company said it is a broad rules-based market index by market capitalization that tracks the performance of the top 15 widely traded liquid cryptocurrencies that are listed on various cryptocurrency exchanges around the world.

The top 15 components of IC15 would be Bitcoin, Ethereum, Bitcoin Cash, Chainlink, Polkadot, Cardano, Litecoin, Avalanche, Binance Coin, Solana, XRP, Shiba Inu, Terra, Uniswap and Dogecoin. The base value of the index is set at 10,000 and the base date is April 1, 2018. As of January 1, 2022, the index’s opening value was 71,463.30 points. The company said the index captures more than 80% of the market movement and, therefore, is a vital tool for monitoring and evaluating the market.

“With the launch of India’s first IC15 cryptocurrency index, we intend to complete the circle of knowledge for the entire cryptocurrency and blockchain ecosystem. This will not only propel the ‘learn before you earn’ initiative, but will also serve the industry with another powerful intervention, ”said Jigish Sonagara, CEO and CEO, CryptoWire.

TickerPlant had launched the CryptoWire super app in December 2021 which sought to help cryptocurrency users with real-time market prices and insights, news, knowledge, research, education, information and data platform.

Read also: After Bitcoin, Ethereum, this altcoin is now bigger than SoftBank, Moody’s, ICICI Bank, others

The company said the IC15 index was designed to allow users to follow to have a diversified portfolio, serving as a performance benchmark for fund managers and facilitating accurate index replication and being the index of choice. for creating index products such as index funds, Exchange Traded Fund, etc., and positions the index for efficient derivatives trading in the cryptocurrency trading market. “With the launch of the first IC15 cryptocurrency index in India, we intend to complete the circle of knowledge for the entire cryptocurrency and blockchain ecosystem,” said Sonagara.

TickerPlant offers learning content in digital currencies through its Crypto University, a cryptocurrency YouTube channel, and a telephone service with tools such as identifying arbitrage opportunities, building checklists, and loan and lending rates. Former Supreme Court Justice Judge Deepak Verma, retired IIM Bangalore Professor R. Vaidyanathan, former CBDT President Mukesh Joshi, former RBI Executive Director Dr. RB Barman, were among the members of the company’s board of directors.

The cryptocurrency tips / recommendations in this story are from the respective commentator. Financial Express Online takes no responsibility for their advice. Please consult your financial advisor before trading / investing in cryptocurrencies.

Financial Express is now on Telegram. Click here to join our channel and stay up to date with the latest Biz news and updates.

.

Share this

Leave a Comment