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India’s first index of cryptocurrencies IC15 launched

India's first index of cryptocurrencies IC15 launched
Written by publisher team

Aiming to enable knowledge about the crypto and blockchain ecosystem, CryptoWire, a global cryptocurrency app and a private business unit of TickerPlant, on Monday announced the launch of India’s first cryptocurrency index – IC15, a rules-based broad market index by market capitalization.

The company stated that IC15 tracks and measures the performance of the top 15 most widely traded liquid cryptocurrencies on the world’s leading crypto exchanges.

Over the past years, cryptocurrencies have emerged as an asset class in their own right, gaining wider acceptance and capturing people’s interests. Thus, an index that captures more than 80 percent of the market movement is an essential market tracking and evaluation tool for making and enhancing transparent decisions.

The CryptoWire Index Governance Committee, which includes domain experts, industry practitioners and academics, will maintain, monitor and manage the index while it is rebalanced every quarter. The base value of the index is set at 10,000 and the base date is April 1, 2018.

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Bitcoin, Ethereum, XRP, Bitcoin Cash, Cardano, Litecoin, Binance Coin, Chainlink, Polkadot, Uniswap, Dogecoin, Solana, Terra, Avalanche and Shia Inu will be components of IC15.

Gigish Sunagara, Managing Director and CEO of CryptoWire, said at the launch of IC15, “With the launch of India’s first IC15 index of cryptocurrencies, we intend to complete the cycle of knowledge for the entire cryptocurrency and blockchain ecosystem. Not only will this drive ‘learning by’ earning “Initiating but also serving the industry with another strong intervention. At CryptoWire, our approach is to facilitate market development and greatly mitigate risk by offering all possible tools for probabilities assessment and decision making.”

The Mumbai-based company said IC15 is designed to provide insights into cryptocurrency mining, the true benchmark and mirror of the underlying crypto market, an industry barometer in a sense, with a diverse representation of overall market sentiment.

It offers an easy-to-follow solution for owning a diversified portfolio, acts as a benchmark for fund managers, facilitates accurate index redundancy, is the preferred index for creating index-linked products such as index funds, ETFs, etc., and positions the index for efficient derivatives trading in the cryptocurrency trading market, it said. CrytoWire stated.

“We want all participants to make the most of this research-oriented, technology-enabled opportunity that we offer them to track the market. CryptoWire is in a position to emerge as an industry partner to disseminate knowledge, research, and information and help participants make informed decisions. IC15 is another step toward this goal.” .

The index allows crypto enthusiasts, investors and investment managers to monitor the performance of cryptocurrencies in global markets.

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