Key Takeaways:
- CryptoWire launches India’s first global index of cryptocurrencies called IC15.
- The IC15 is a rule-based broad market index by market capitalization that tracks and measures the performance of the top 15 most liquid cryptocurrencies listed on the world’s leading crypto exchanges.
- Index’s base value is set at 10,000 and the base date is April 1, 2018. As of January 1, 2022, the index open value was 71,463.30 points.
Mumbai-based financial content provider TickerPlant’s cryptocurrency app CryptoWire has launched India’s first index of global cryptocurrencies called IC15. This is intended to increase knowledge of the crypto and blockchain ecosystems. The IC15 is a rule-based broad market index by market capitalization that tracks and measures the performance of the top 15 most liquid cryptocurrencies listed on the world’s leading crypto exchanges.
The top 15 constituents of IC15 would be Bitcoin, Ethereum, Bitcoin Cash, Chainlink, Polkadot, Cardano, Litecoin, Avalanche, Binance Coin, Solana, XRP, Shiba Inu, Terra, Uniswap, and Dogecoin. Index’s base value is set at 10,000 and the base date is April 1, 2018. As of January 1, 2022, the index open value was 71,463.30 points. The company said the index captures over 80% of market movement and hence, it is a fundamental market tracking and assessing tool.
Jigish Sonagara, MD & CEO, CryptoWire said that,
“With the launch of India’s first index of crypto IC15, we intend to complete the knowledge circle for the entire crypto and blockchain ecosystem. This will not only push the ‘learn before earn’ initiative but also serve the industry with yet another powerful intervention.”
Sonagara added by saying that,
“At CryptoWire, our approach is to facilitate market development and mitigate risk to a great degree by presenting all possible tools to evaluate possibilities and make decisions. We want all participants to utilise to the fullest, this research-oriented technology-powered opportunity that we present to them for tracking the market. CryptoWire is positioned to emerge as the partner of the industry to spread knowledge, research and information and help participants make informed decisions. IC15 is another step towards this goal.”
According to the company, the IC15 index was designed to allow users to follow for having a diversified portfolio, acting as a performance benchmark for fund managers and facilitating accurate replication of the index and be the preferred index for creation of index-linked products like index funds, exchange-traded funds, etc., and positions the index for efficient derivatives trading in the cryptocurrency trading marketplace.
TickerPlant provides digital currency education through its Crypto University, a cryptocurrency YouTube channel, and a wire service that includes tools such as arbitrage opportunity identification, watchlist creation, and lending & borrowing rates. Former Supreme Court judge Justice Deepak Verma, IIM Bangalore retired professor R. Vaidyanathan, former CBDT Chairman Mukesh Joshi, former RBI executive director Dr RB Barman were among the company’s board members.
