Cryptocurrency Aggregator to launch Crypto Indices on Major Financial Institutions
By Jamie Green – Crypto Expert
CoinMarketCap, the most popular cryptocurrency price aggregator website, has announced the launch of cryptocurrency benchmark indices. These indices will feature of NASDAQ, Bloomberg, Börse Stuttgart and Thomson Reuters providing a comprehensive breakdown of the markets and can be used to help determine when to sell crypto.
CoinMarketCap have released two benchmark indices tracking to markets. The first is the CMC Crypto 200 Index (CMC200) tracking the top 200 coins covering 90% of the cryptocurrency markets. This will provide investors with comprehensive data on the current market capitalisation and could be used to help decide when to cash out crypto. The second is named the CMC Crypto 200 ex-BTC index (CMC200EX) which again tracks the top 200 coins on the market but excludes the influence of Bitcoin. Both can be used to track the general performance of the market and to help determine whether more are buying or selling crypto.
The indices are to be calculated and administered by German index provider Solactive AG to their standards and methodology such as rebalancing the index quarterly. Solactive administers over 3,000 custom indices placing them well for collaboration with CoinMarketCap. They can offer tailored index solutions to clients looking to licence the indices such as a display. Users to the client would be able to view this to decide when to exchange Bitcoin for cash.
CoinMarketCap introduced their aggregator site back in 2013 to compare Bitcoin to other cryptocurrencies. The site has since become the number one platform for comparing the markets and releasing indices on major financial institutions using their data points, seems the next phase of development.
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