NASDAQ Reveals XRP Liquid Index (XRPLX)
Back in 2018, even if the year was a bearish one, 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.
They have published reports that analyzed the Bitcoin and the crypto market, and they teamed up with VanEck to launch the Bitcoin futures despite the bearish trend that took control over the crypto market throughout 2018.
NASDAQ added Brave Coin’s XRP Liquid Index (XRPLX)
NASDAQ has been making a lot of moves that showed increased support for the cryptosphere for a really long time.
Now, the stock exchange operator decided to add Brave Coin’s XRP Liquid Index (XRPLX) to its platform.
Starting today, May 1st, NASDAQ will be sending real-time data on Ripple (XRP) via its Global Index Data Service.
The index provides real-time information on rates of 1 XRP with quotes in US dollars. Information on the platform will be updated every five minutes.
“The XRP Liquid Index (XRPLX) is designed to provide a real-time spot or reference rate for the price of 1 XRP, quoted in USD, and based on the most liquid ends of their markets. The index is calculated using a methodology that has been independently audited against key IOSCO principles,” NASDAQ says.
Increasing crypto integration into the financial marketplace
It’s also worth noting that Brave New Coin’s suite of Liquid Indices increases crypto integration into the financial marketplace as the emerging asset class.
The company has reportedly already developed the Bitcoin Liquid Index and the Ethereum Liquid Index.
The new index is now added in order to meet the demand for a fair USD price for XRP.
The XRPLX captures a global sample of liquidity on the highest volume and quality exchanges.
This is “ideal for settlements and accurate spot pricing, the XRPLX API includes 30-second Intraday pricing, End-of-Day OHLCV, and Time & Volume-Weighted-Averages,” the Daily Hodl noted.
Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.