- The index, according to the business, intends to raise awareness and knowledge of the bitcoin and blockchain ecosystems.
- The index will also assist investors in understanding how virtual coin trading works, according to the company.
- They’ll be in charge of maintaining and monitoring the index, as well as reshuffling the top 15 cryptocurrencies.
The world’s most powerful cryptocurrency app Cryptowire has created a crypto index in India. It is to track the performance of the world’s 15 most popular cryptocurrencies, which are all listed on major exchanges. IC15 is the name of the cryptocurrency index.
IC15: India’s First Crypto Index
TickerPlant’s Cryptowire is a unique business unit that provides crypto statistics. The index, according to the business, is intended to raise awareness and knowledge of the bitcoin and blockchain ecosystems.
The index will also assist investors in understanding how virtual coin trading works, according to the company. The news comes at a time when cryptocurrency trade in India has exploded, with more ordinary investors becoming interested in virtual currencies despite regulatory worries.
It’s worth noting that the IC15 index has a governance committee (IGC) made up of domain experts, industry practitioners, and academics. They’ll be in charge of maintaining and monitoring the index, as well as reshuffling the top 15 cryptocurrencies.
“Our aim is to support market development and limit risk to a significant extent by offering all necessary tools to analyse options and make judgments,” said Jigish Sonagara, Managing Director and CEO of CryptoWire.
The interview was taken by CNBC in which CEO Jigish Sonagara can be seen. He can be seen addressing the launch of Cryptocurrency Index IC15.
“We want all players to take use of this research-driven, technology-driven opportunity to follow the market to the best extent possible,” he continued.
IC15 Covers 80 Percent of Market Movement
To make a place in the index, a cryptocurrency must have traded on at least 90% of trading days during the evaluation period. Should have remained in the top 50 in terms of circulating market capitalization for the previous month.
“An index that captures over 80 per cent of market movement is, thus, a fundamental market tracking and assessing tool to base decisions on and enhance transparency.” Says @TOIBusiness talking about #IC15.
The IC15 index’s goal is to give information on index-linked products such crypto ETFs and funds. It will also assist in the dissemination of knowledge about crypto mining and the cryptocurrency sector as a whole.
It will assist investors in comprehending key aspects of the bitcoin ecosystem and will also offer options for diversifying crypto investments.
Given that it is a basic crypto market tracking index that will provide an overall representation of global markets, it will benefit not only crypto investors, but also enthusiasts and financial managers.