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CoinMarketCap Launches Two Crypto Benchmark Indices

crypto dec13 21mar19 lt

CoinMarketCap announced the launch of two comprehensive cryptocurrency benchmark indices on Nasdaq GIDS, Bloomberg Terminals, Thomson Reuters Eikon (Refinitiv), and Börse Stuttgart. The indices will help users to quickly reference and track the general performance of the cryptocurrency market, it said.

In addition, these indices will be prominently displayed on the CoinMarketCap website, which is considered the most-trafficked site in the cryptocurrency space.

In a blog post, the premier price-tracking website for cryptocurrencies said German index provider Solactive AG will calculate and administer these headline indices. These will cover the Top 200 cryptocurrencies by market capitalization, one including Bitcoin, and one without.

The headline index CMC Crypto 200 Index or CMC200 includes Bitcoin, and essentially covers more than 90 percent of the global cryptocurrency market. The second index, CMC Crypto 200 ex BTC Index or CMC200EX, excludes Bitcoin. It will track the performance of the market without the influence of Bitcoin, which dominates the total crypto market capitalization.

Fabian Colin, Head of Sales at Solactive AG, said, "The indices are rebalanced on the last day of each calendar quarter. .. At this time, all eligible cryptocurrencies are ranked by their current market capitalization. This ensures that growing or shrinking cryptocurrencies are accurately represented in the overall index. At any time, if a cryptocurrency is no longer eligible for membership, a replacement is named at the next scheduled rebalancing."

Solactive is behind the Cboe Bitcoin Futures index launched in December 2017 as well as over 3,000 custom indices.

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