NASDAQ Solves The Fake Volumes Issue – Lists New Crypto Index
NASDAQ was in the spotlight a lot this year, and it has been making a lot of moves that showed increased support for the cryptosphere for a really long time.
NASDAQ has already proven the world that it is becoming more and more fascinated with crypto, understanding that it’s better to ride this wave than fight it.
Back in May, NASDAQ began sending real-time data on Ripple (XRP) via its Global Index Data Service, and this was seen as a really successful move for XRP.
NASDAQ lists new crypto index
Now, the world’s second-largest stock exchange, and it’s just listed a new crypto index.
This is reportedly designed in such a way to eliminate the fake trading volumes issue which has been plaguing the crypto space.
The CIX100 index has been created by Cryptoindex back in May 2017, and it tracks the 100-bets performing cryptos by pulling data from the nine top exchanges.
According to the latest data coming from the Daily Hodl, the index is up 1097.73% since its launch date.
The company’s announcement on Facebook highlights the following:
“The Cryptoindex.com team is honored to be listed on Nasdaq, which has always been a key platform for institutional investors to monitor traditional indices. Now it’s time for a cryptocurrency one. Cryptoindex’s methodology meets the needs and requirements of heavily regulated asset managers, plus institutional and professional investors.”
The company also notes that “Cryptoindex 100 is a digital expression of the top 100 coins that rebalances itself continuously as the cryptocurrency market ebbs and flows.”
The official notes also explained that the rebalancing of the Cryptoindex 100 is something that happens on a monthly basis.
It’s been also revealed that the data “is streamed from the exchange APIs taking all trades for each particular coin.”
Head over to the original article in order to learn more.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.