Positive news came on your crypto ecosystem when 2 crypto benchmark indices from data provider CoinMarketCap launched on financial data feeds from Bloomberg Terminal, Nasdaq Global Index Data Service, Thomson Reuters Eikon, and Germany’s B?rse Stuttgart, and so on its own platform.
Announcing the good news on Wednesday, CoinMarketCap mentioned the fact that benchmark indices would be the “most comprehensive” cryptocurrency data offerings with the markets. It will cover the very best two-hundred cryptocurrencies by market cap, one including bitcoin additionally, the other without.
The firm elaborated that this first index is referred to as CMC Crypto 200 Index (CMC200), like bitcoin, and covers even more than ninety percent with the global crypto and digital asset market.
The second index is called CMC Crypto 200 ex BTC Index (CMC200EX). It tracks the market’s performance without the presense of influence of bitcoin.Bitcoin, the world’s largest cryptocurrency, currently has over fifty percent dominance in the total market cap.
Moreover, CoinMarketCap has partnered with Germany-based provider of economic indices Solactive for the effort. According to the announcement, Solactive will calculate and administer each indices, as well as rebalance them at a quarterly basis. The retail price data is being delivered by CoinMarketCap.
Fabian Colin, head of sales at Solactive, declared that CoinMarketCap data would also give his firm the ability to develop custom indices for clients. Colin further added they’re looking forward to developing more cryptocurrency indices down the road. According to him, this would optimistically result in investable indices and can even lead to additional products.
CoinMarketCap also added cryptocurrency asset letter grades towards platform from blockchain analytics startup Flipside, the 2009 week. It happens to be to be noted the fact that Fundamental Crypto Asset Score (FCAS) metric created by Flipside evaluates factors like developer activity and then a broad lot of transaction data.
