Mining Giant Bitmain Launches Crypto Index for Investors


0

Beijing-based cryptocurrency mining giant Bitmain has launched a new cryptocurrency index as a benchmark for investors.

The firm announced Friday that the new Bitmain Crypto Index tracks the performance of some of the “largest and most liquid” cryptocurrencies, and is denominated in U.S. dollars.

The index publishes two types of prices, a real-time spot price that is updated every second, and a daily reference price that is published once a day around 10:00 a.m. Hong Kong time.

It further lists spot prices on 17 top cryptocurrencies by market capitalization, as well as a combined Bitmain Big 10 Index (BLC10) based on 10 large-cap cryptos. The Big 10 is weighted by market cap and its member cryptos represent more than 90 percent of the wider market’s value, says Bitmain

“The index is developed to provide institutional and retail investors with transparent, timely, methodology-based, and investable benchmark of the most active cryptocurrencies traded globally,” Bitmain explained in its index methodology.

Price data is sourced from a number of exchanges, including Bitfinex, Binance, Bitstamp, Bittrex, GDAX, Gemini, Huobi, Itbit, Kraken, OKEX, and Poloniex. The exchanges are selected based on various factors, Bitmain said, such as reputation, price transparency, compliance level, stability and trading volume.

Should one of the listed tokens undergo a hard fork split, as bitcoin cash recently did, Bitmain said, “a hard forked new token will be measured against a set of criteria on its 10th day post-fork to determine whether it is a significant one” to add.

The index will be reviewed monthly by a committee set up by the firm.

Chart image via Shutterstock


Like it? Share with your friends!

0

What's Your Reaction?

hate hate
0
hate
confused confused
0
confused
fail fail
0
fail
fun fun
0
fun
geeky geeky
0
geeky
love love
0
love
lol lol
0
lol
omg omg
0
omg
win win
0
win
coindesk

Choose A Format
Story
Formatted Text with Embeds and Visuals
Video
Youtube, Vimeo or Vine Embeds
List
The Classic Internet Listicles
Open List
Submit your own item and vote up for the best submission
Countdown
The Classic Internet Countdowns
Poll
Voting to make decisions or determine opinions
Ranked List
Upvote or downvote to decide the best list item
Personality quiz
Series of questions that intends to reveal something about the personality
Trivia quiz
Series of questions with right and wrong answers that intends to check knowledge
Meme
Upload your own images to make custom memes
Audio
Soundcloud or Mixcloud Embeds
Image
Photo or GIF
Gif
GIF format