CryptoWire has launched India’s first crypto index dubbed IC15, it will track and measure the performance of the top 15 widely traded liquid cryptocurrencies of the world including Bitcoin, Ethereum, Ripple, Dogecoin, Shiba Inu and others.
CryptoWire, a global crypto super app that is a special business unit of TickerPlant, announced the launch of India’s first index of Cryptocurrencies – IC15, which is a rule-based broad market index by market capitalization, with the goal of empowering knowledge on the crypto and blockchain ecosystem.
According to the business, the IC15 tracks and assesses the performance of the top 15 widely traded liquid cryptocurrencies listed on the world’s largest crypto exchanges.
Cryptocurrencies have grown in popularity as an asset class in recent years, earning widespread acceptance and piquing people’s attention.
As a result, an index that captures over 80% of market movement is a fundamental market tracking and analyzing tool that can be used to make decisions and improve transparency.
The index will be maintained, monitored, and administered by CryptoWire’s Index Governance Committee, which includes domain experts, industry practitioners, and academicians. It will be rebalanced every quarter. The index’s Base Value is 10,000, and the base date is April 1, 2018.
IC15 will be made up of Bitcoin, Ethereum, XRP, Bitcoin Cash, Cardano, Litecoin, Binance Coin, Chainlink, Polkadot, Uniswap, Dogecoin, Solana, Terra, Avalanche, and Shia Inu.
Jigish Sonagara, Managing Director and CEO of CryptoWire, said at the launch of IC15, “We seek to complete the knowledge circle for the whole crypto and blockchain eco-system with the launch of India’s first crypto index, IC15.
This will not only help to promote the “learn before you earn” approach, but it will also provide the industry with another powerful intervention.
At CryptoWire, we take the strategy of facilitating market development and reducing risk to the greatest extent feasible by providing all available tools for evaluating options and making decisions.”
About the IC15
IC15, according to the Mumbai-based firm, was created to provide insights into crypto mining and to serve as a true benchmark and mirror of the underlying crypto market, akin to a barometer of the sector with a diversified representation of overall market sentiments.
It acts as a performance benchmark for fund managers, facilitates accurate replication of the index, and is the preferred index for the creation of index-linked products such as index funds and ETFs, among others, according to CrytoWire. It also positions the index for efficient derivatives trading in the cryptocurrency trading marketplace.
“We want all participants to utilise, to the fullest, this research-oriented, technology-powered opportunity that we present to them for tracking the market. CryptoWire is positioned to emerge as the partner of the industry to spread knowledge, research, and information and help participants make informed decisions. IC15 is another step towards this goal,” Sonagara added.