Huobi Pro Inaugurates The Huobi 10 Index For Crypto Asset Tracking
As the race to become the best crypto trading platform intensifies, leading exchange Huobi Pro announced that it is establishing a new market index for its clients. The new arrival will be known as Huobi 10 index. As its name suggests, the Huobi 10 index will feature the 10 top-rated digital assets with regard to both the market capitalization value as well as the situational liquidity. The primary function of the index is to correctly represent the performance of US Dollar Tether (USDT) pairs on the Huobi cryptocurrency exchange.
According to the Huobi team, this is the first of many indices that the platform will create. In the future, there will be a wide assortment of indices from which traders can choose. Using these indices, investors will have an in-depth view of specific divisions within the crypto space. Moreover, the lists will prove useful in comparing the performance of various digital assets. As a result, the investors will make sound investment decisions, resulting in higher profit margins.
Initially, the Huobi 10 index will have a base of 1,000 points. Later on, it is scheduled to appear on globally acclaimed financial platforms such as Bloomberg. Furthermore, Huobi intends to derive future financial indices for the Huobi 10 index. In this regard, the first subsidiary will be HB10, slated to go live in June 2018.
During its testing stages, the Huobi 10 index performed exceptionally well when put up against Bitcoin, an established digital asset. Going by the statistics captured from March to May 2018, the alpha version of Huobi 10 index scored -0.0028 against BTC, while the beta version got 0.79. This performance is sufficient proof that the Huobi 10 index can suppress market volatility and effective maintain its alpha at the same time.
For a long time, the crypto space has been yearning for the introduction of a market index. However, the establishment of the Huobi 10 index is rightly timed, as the market is fully mature and ready for such a product. For instance, MSCI and S&P500 indices have assisted portfolio managers in benchmarking. Undoubtedly, the Huobi 10 index will be a success, given that it is all-encompassing and covers an array of digital assets. Furthermore, it is made using cutting-edge technology that graced conventional composite indices.
About Huobi Pro
Huobi Pro is a prominent digital asset exchange that operates on a global scale. Its portfolio is vast, supporting over 100 different digital assets. Besides offering multi-currency support, this platform is renowned for its impenetrable security features and excellent customer support services.