Cryptocurrency app Cryptowire has now launched a cryptocurrency index in India to monitor the 15 most traded cryptocurrencies in the world. The cryptocurrency index known as IC15 will analyze and monitor the performance of the best currencies listed on the world’s leading exchanges. According to a press release from the company, the launch of the index aims to increase awareness and knowledge about the crypto and blockchain ecosystem among new investors.
Cryptowire is a proprietary business unit (SBU) for cryptographic statistics provided by TickerPlant. The index aims to raise awareness of the ecosystem that will help investors understand how cryptocurrency trading works. The launch comes after indices around the world saw a huge jump in cryptocurrency trading in India, despite concerns about new regulations related to it. Meanwhile, the company also reported that the IC15 Governance Committee includes industry experts, industry practitioners and academics. According to their release, these experts will maintain, monitor and manage the index as it rebalances every quarter.
India’s first cryptocurrency index launched
With the launch, IC15 became India’s first cryptocurrency index. According to the company, the cryptocurrency can only be included in the index if it was traded on at least 90 percent of the trading days during the review period. The token should remain in the top 50 list in terms of market cap trading during the previous month. Also, the crypto has to be among the top 100 most liquid cryptocurrencies in trading value to be included in the IC15 index.
Top coins in crypto index
As of now, the top four coins such as Bitcoin, Ethereum, Binance Coin and Solana occupy the four leading positions in the index. Apart from the top four, the index will also see currencies like XRP, Bitcoin Cash, Cardano, Litecoin, Chainlink, Polkadot, Uniswap, Terra and Avalanche. Meanwhile, the Dogecoin and Shiba Inu meme coins will complete the list of the top 15 cryptocurrencies in the CryptoWire Index. The company will review and rebalance it every three months.
Our approach is to facilitate market development and greatly mitigate risk by offering all possible tools for probabilities assessment and decision making. “We want all participants to take full advantage of this research-oriented, technology-enabled opportunity to track the market,” said Jijesh Sunagara, Managing Director and CEO of CryptoWire, in a statement.