cryptocurrencies: The IC15 is a rule-set broad market index by market capitalization that tracks and measures the top 15 widely traded cryptocurrencies listed on the world’s major crypto exchanges.
Cryptocurrency app Cryptowire on Monday announced the launch of India’s first cryptocurrency index- IC15. The company said it is a rule-set broad market index based on market capitalization that tracks and measures the top 15 widely traded liquid cryptocurrencies listed on the world’s major crypto exchanges.
It includes 15 cryptocurrencies, including Bitcoin, Ethereum, Binance Coin, Solana, Cardano, Ripple, Terra, Dogecoin, and Shiba Inu. (Shiba Inu), included. The base value of this Index has been assumed as 10,000, and the base date is April 1, 2018. As of January 1, 2022, the IC15 Index had an open value of 71,463.30 points.It should be noted that any index that captures more than 80 percent of market movements is a fundamental market tracking and valuation tool to base index decisions on.
The company noted that it has cryptowire’s index governance committee – consisting of domain experts, industry professionals, and academia – who will maintain, monitor, and administer the Index, rebalancing it quarterly.
Jigish Sonagara, the Managing Director and CEO of Cryptowire, said, “With the launch of India’s first crypto IC15 Index, we intend to complete the knowledge cycle for the entire crypto blockchain ecosystem. This will not only take forward the initiative of ‘learn before earn’ but will also serve the industry with a more powerful intervention.”
“We want all the participants to make full use of this research-oriented technology-powered opportunity that we offer them to keep an eye on the market. CryptoWire is positioned to emerge as an industry partner in spreading knowledge, research, and information and helping participants make informed decisions. IC15 is another step towards this goal.”
According to Cryptowire, the IC15 Index has been designed to offer an easy solution to follow for a diversified portfolio, which acts as a performance benchmark for the fund manager and Provides the facility of exact replication of the Index and makes index-linked products preferred for index creation, such as index funds, exchange-traded funds, etc.