India’s First Cryptocurrency Index IC15 Launched: How It Works, What It Means For Investors
The cryptocurrency index IC15 will analyse and track the performance of the top coins listed on the world’s most popular exchanges. As India’s crypto business grows, various companies are expressing interest in investing and providing services to Indian crypto investors.
CryptoWire, a cryptocurrency software, has launched a Cryptocurrency Index IC15 for Indian investors as part of this endeavour. The first such index in the country, dubbed Cryptocurrency Index IC15, would track the performance of the world’s top 15 crypto coins.
The company claims that its goal is to raise investor understanding of cryptocurrency and the blockchain technology that underpins it. The debut comes at a time when authorities are attempting to establish laws to control the new business as it develops.
The Cryptocurrency and Regulation of Official Digital Currency Bill, 2021, was supposed to be approved by Parliament this winter session, but it didn’t happen.
The Reserve Bank of India (RBI), which is uninterested in private crypto coins, has announced that it is developing its own cryptocurrency.
What’s The Cryptocurrency Index IC15?
The index, known as Cryptocurrency Index IC15, tracks and evaluates the performance of the top 15 most frequently traded liquid cryptocurrencies listed on the world’s biggest crypto exchanges. A governing committee (IGC) for the IC15 index is made up of domain experts, industry practitioners, and academics. The index will be monitored, maintained, and administered by them, including quarterly rebalancing of the top 15 cryptos.
The index’s base value is 10,000, and the base date is April 1, 2018.
What’s The Aim Of The Index?
The cryptocurrency environment will become even more familiar to investors. The Cryptocurrency Index IC15 would provide a holistic representation of global markets, which will assist crypto investors, enthusiasts, and financial managers alike.
The tool is designed to help market development and risk mitigation by providing all available tools for evaluating options and making decisions.
It will not only promote the “learn before users earn” campaign, but it will also provide the industry with another significant contribution.
Key Things That Should Know About The IC15 Index
- Cryptocurrency Index IC15 is run by CryptoWire, a Mumbai-based part of TickerPlant, a crypto statistics provider. Crypto enthusiasts and investors can use the index to keep track of how cryptocurrencies are performing on global exchanges.
- The index will follow the top 15 crypto currencies traded on major exchanges around the world. Among the coins included are Bitcoin, Ethereum, XRP, Bitcoin Cash, Cardano, Litecoin, Binance Coin, Chainlink, Polkadot, Uniswap, Dogecoin, Solana, Terra, Avalanche, and Shiba Inu.
- The index’s operation will be overseen by a governance committee. Domain specialists, industry practitioners, and academics will make up this committee. Every quarter, they will administrate and rebalance the index.
- According to the business, the index was created to provide insight into crypto mining and assist investors in making informed risk-mitigation decisions.
- To be listed on Cryptocurrency Index IC15, a crypto coin must trade on at least 90% of the trading days during the evaluation period. Its market capitalization should have remained in the top 50 for the previous month.
- The base value is 10,000, and the base date is April 1, 2018.
What Are The Constituents Of The Index?
At the moment, the index’s four major coins are Bitcoin, Ethereum, Binance Coin, and Solana. XRP, Bitcoin Cash, Cardano, Litecoin, Chainlink, Polkadot, Uniswap, Terra, and Avalanche will all be included in the index, in addition to the top four.
In the meanwhile, the top 15 cryptos on the CryptoWire index IC15 will be completed by meme coins Dogecoin and Shiba Inu. Every quarter, the firm will evaluate and realign it.
How Can Cryptocurrency Be Listed?
To be included in the index, a cryptocurrency must trade on at least 90% of trading days during the evaluation period and be in the top 50 in terms of circulating market capitalization for the previous month.
TickerPlant’s Cryptowire is a special business unit (SBU) that provides crypto statistics. Investors will be able to comprehend how virtual coin trading works thanks to the index, which aims to raise knowledge about the ecosystem.
The announcement comes after cryptocurrency trade in India experienced a tremendous increase in indices around the world, amid concerns about new laws. Meanwhile, the Cryptocurrency Index IC15 governing council is made up of domain experts, industry practitioners, and academicians, according to the business.
The index will be maintained, monitored, and administered by these specialists, who will rebalance it every quarter, according to their press statement.
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People May Ask
What Does Index Mean In Crypto?
Each Cryptocurrency Index IC15 is comprised of a number of cryptocurrencies that have been grouped together and weighted by market capitalization (market cap). A cryptocurrency’s market cap is obtained by multiplying the amount of troops in circulation by its current valuation in US dollars.
Can You Buy Cryptocurrency Index IC15?
The fund can be bought and sold just like any other stock traded on the market, making it much easier to get began.
What Is The Major Crypto Index?
Which Crypto Will Explode?
Decentraland (MANA-USD) is the market leader in Metaverse Plays through 2022.
How Do People Invest In Bitcoin Index?
- Select the Most Appropriate Bitcoin Exchange or Brokerage. Choose the finest place to acquire and keep ones digital money before people begin their Bitcoin transaction.
- Create a Bitcoin-supporting account.
- Fiat (government-backed) currency can be used to fund anyone’s account.
- Fill out a Purchase Order form.
Which Coin Will Explode In 2025?
Ethereum, the second-largest cryptocurrency in the cryptocurrency market, is expected to explode between 2022 and 2025.
It has released Ethereum 2.0, which has received a lot of traction among crypto investors because to its smart contract architecture, which has a lot of cool features.
Who Owns The Most Bitcoin?
Does Elon Musk Own Bitcoin?
Despite his previous criticism of bitcoin mining and its impact on the environment, entrepreneur Elon Musk stated that he owns bitcoin and has owned it for a long time.
What Is Elon Coin?
Elon Musk has always championed Dogecoin, a meme-based cryptocurrency in which he has assets in addition to Bitcoin and Ether.
How Long Should You Keep Cryptocurrency?
This form of crypto investment is when someone expect the price of the cryptocurrency to rise over time — usually an investment that must be held for at least 6 months to a year. Long-term crypto investors intend to hold their assets for several years in some situations.