Two Indices Launch On Nasdaq, Bloomberg And Reuters By CoinMarketCap To Track Cryptocurrencies

Two Indices Launched On Nasdaq, Bloomberg, And Reuters By CoinMarketCap To Track Cryptocurrencies

CoinMarketCap is well known as the go-to source for current and past values of each crypto asset. The data found on here can describe up to a year of being on the market and will show the percentage that the value has changed in the last 24 hours, making it an excellent source of information for any crypto investor. Now, CMC is bringing these indices to the traditional market, according to an announcement by the company on Wednesday.

The two indices will be launched on Nasdaq Global Index Data Service (GIDS), Bloomberg Terminal, Thomson Reuters Eikon (Refinitiv) and Germany’s Börse Stuttgart. There will also be a new platform that specifically is launched for CMC. Considering the company’s history, it should be no surprise that the indices will offer the “most comprehensive” data on cryptocurrency for the whole market, listing the top 200 cryptocurrencies, based on market cap.

The first index, CMC Crypto 200 Index (CMC200), includes Bitcoin in its calculations, showing over 90% of the crypto market around the world. However, the second index CMC Crypto 200 ex BTC Index (CMC200EX), will omit Bitcoin, tracking the performance of cryptocurrencies without it. Presently, Bitcoin’s dominance of the market cap globally is just over 50%. It is the hope of CMC CEO Brandon Chez that the implementation of the indices will offer the data with “an easier-to-digest format.”

To create these indices within the traditional market, CMC chose to partner with Solactive, which offers financial index services in Germany. Solactive will be in charge of calculations, administration, and quarterly rebalancing. CMC’s responsibility in this matter is to offer the price data information for the compilation, which it offers in real time. The head of sales for Solactive, Fabian Colin, commented that the CMC data would also help his own firm to create custom indices that they can offer to clients.

This week, CMC added a feature that gives each crypto asset a letter grade via Flipside, a blockchain analytics startup. This grade, more eloquently known as the Fundamental Crypto Asset Score (FCAS), was created by Flipside to check various factors that play a role in the cryptocurrency, like developer activity and transaction data.

Nasdaq has recently launched two indices last month that shows the “spot or reference rate for the price” of Bitcoin and Ethereum. The project was created with the help of a market data company for crypto assets called Brave New Coin. It is unclear how these indices will be impacted by CMC’s new launch.

Get Daily Headlines

Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

What to Know More?

Join Our Telegram Group to Receive Live Updates on The Latest Blockchain & Crypto News From Your Favorite Projects

Join Our Telegram

Stay Up to Date!

Join us on Twitter to Get The Latest Trading Signals, Blockchain News, and Daily Communication with Crypto Users!

Join Our Twitter

Add comment

E-mail is already registered on the site. Please use the Login form or enter another.

You entered an incorrect username or password

Sorry, you must be logged in to post a comment.
Bitcoin Exchange Guide