Home / Others / Mining Giant Bitmain launches the Crypto index for investors

Mining Giant Bitmain launches the Crypto index for investors

Beijing's cryptocurrency mining giant, Bitmain, has launched a new cryptocurrency index as a benchmark for investors.

L & # 39; Company announced On Friday, the new Bitmain Crypto Index replicates the performance of some of the largest and most liquid "cryptocurrencies" and is denominated in US dollars.

The index publishes two types of prices, a spot price in real time that is updated every second and a daily reference price that is published once a day around 10:00 hours in Hong Kong.

It also lists spot prices on 17 major cryptocurrencies by market capitalization, as well as a combined index Bitmain Big 10 (BLC10) based on 10 highly capitalized cryptates. The Big 10 is weighted by market capitalization and its encrypted members account for over 90% of the broader market value, says Bitmain

"The index is designed to provide transparent, timely institutional and retail investors based on the investment methodologies and parameters of the most active cryptocurrencies traded globally," said Bitmain in his index methodology.

Price data comes from a number of exchanges, including Bitfinex, Binance, Bitstamp, Bittrex, GDAX, Gemini, Huobi, Itbit, Kraken, OKEX and Poloniex. Exchanges are selected on the basis of various factors, said Bitmain, such as reputation, price transparency, level of compliance, stability and volume of trade.

If one of the quoted tokens were to suffer a split fork, as bitcoin did recently, Bitmain said that "a new hard token token will be measured against a set of criteria on its tenth day post-fork to determine if it is significant" add .

The index will be reviewed monthly by a committee set up by the company.

Image of the chart via Shutterstock

Source link