The cryptocurrency market is more volatile than the stock markets, which poses a risk to investors, especially individual investors who invest without sufficient experience. While several major platforms, such as WazirX, CoinDCX and CoinSwitch Kuber, previously enabled cryptocurrency trading, the country lacks a specialized cryptocurrency index.
IC15 is a broad market cap-based index that measures the performance of the world’s most liquid cryptocurrency traded. The index will help crypto enthusiasts and gamers to track the performance of cryptocurrencies on global exchanges. It is worth noting that the IC15 Index has a Governance Committee made up of industry practitioners, industry experts, and academics. They will be responsible for maintaining and monitoring the index, as well as rearranging the top 15 cryptocurrencies. The index, according to the company, was created to provide insight into cryptocurrency mining and help investors make informed decisions to mitigate risks.
What is an investor?
According to CrytopWIre, the cryptocurrency index will help create index-linked products such as ETFs and crypto funds. It will serve as a benchmark for fund managers’ performance. IC15 is a broad depiction of overall market sentiment that serves as the benchmark for the underlying crypto market. It will also make it easier to keep a diversified portfolio. The placement of this unique indicator will assist investors in effective derivative trading in the Bitcoin trading industry.
The base value of the IC15 index is set at 10,000, with the base date being April 1, 2018. The index will monitor the top 15 cryptocurrencies listed on major exchanges around the world. These cryptocurrencies are Bitcoin, Bitcoin Cash, Ethereum, Cardano, Litecoin, XRP, Binance Coin, Chainlink, Uniswap, Dogecoin, Polkadot, Solana, Avalanche, Terra, and Shiba Inu.