According to the organization, the IC15 follows and assesses the profitability of the top 15 commonly bought and sold liquid digital currencies listed on the prominent cryptocurrency exchanges. Cryptocurrencies have grown as an asset category in their own right in recent years, attaining greater recognition and piquing people’s attention.
An index that reflects more than 80% of market activity is therefore a critical market monitoring and evaluation system on which decisions are made and improve transparency. The Index Governance Committee at CryptoWire, comprised of domain specialists, industry players, and academics, will manage, track, and manage the index, balancing it quarterly. The index’s base level is assigned at 10,000, and the reference date is April 1, 2018.
IC15 will be comprised of Bitcoin, Ethereum, XRP, Bitcoin Cash, Cardano, Litecoin, Binance Coin, Chainlink, Polkadot, Uniswap, Dogecoin, Solana, Terra, Avalanche, and Shia Inu. Jigish Sonagara, Managing Director and CEO of CryptoWire, stated during the roll out of IC15, “We seek to finish the information loop for the whole cryptocurrency and blockchain environment with the introduction of India’s maiden cryptocurrency index, IC15. This will advance the ‘learn before you earn’ concept, but also provide the sector with an even more significant intervention. “At CryptoWire, we take the approach of facilitating market growth and mitigating threat to a large extent by providing all available tools for evaluating options and making choices.”
According to the Mumbai -headquartered startup, IC15 is intended to give indepth information into cryptocurrency mining as well as a real reference and mirror of the underpinning cryptocurrency space, serving as a gauge of the sector in a way, with a diverse representation of general market attitudes.
It offers a convenient remedy for diversifying holdings, serves as a performance landmark for investment firms, enables precise duplication of the index, and is the favoured index for the conception of index-linked product offerings such as index funds, ETFs, and many others, according to CrytoWire. It also places the index for effectual financial derivatives trading in the cryptocurrenc marketplace.
“We encourage all players to take advantage of this research-centered, technology-powered chance to follow the market to the utmost. CryptoWire is poised to grow as the industry’s ally in imparting wisdom, study, and data and assisting players in making educated choices. IC15 is yet another move towards the objective” Sonagara continued.
The index allows cryptocurrency fans, investors, and investment firms to track the profitability of cryptocurrencies in worldwide markets.