IC15 India's first Cryptocurrency Index | Understanding All about IC15

What is Cryptocurrency Index? 

India's first Cryptocurrency Index has been launched by Cryptowire, the Global Cryptocurrency Super app. India is having indexes like Sensex and Nifty which are exchanges for equities and they give an idea of how the stock market and its major players are performing. But now we are having a crypto Index that will be monitoring the performance of the 15 most traded cryptocurrencies that are listed on the leading crypto exchanges in the world in terms of market capitalization. 

The Index will serve as a benchmark on digital markets with its objective to increase the awareness and knowledge of crypto mining, crypto ETFs, funds, and blockchain technology. It will also give the investors the tracking of value of a group of cryptocurrencies and one can avoid the risk of investing in single crypto by investing in the index.

IC15 consists of a governance committee. The committee will be having industry expertise domain professionals. The committee will be taking care of the reshuffling of the top 15 cryptocurrencies from time to time in respect of market capitalization every quarter.

Which Cryptocurrencies can get into the IC15?

The base date is 1st April 2018 while the base value of the index is set at 10000. The index captures 80% of the market movement. It is necessary for 15 cryptocurrencies to trade on at least 90% of the crypto trading days and remain in the top 50 as per market capitalization in the preceding month during the period under review. Also, all 15 cryptocurrencies should be amongst the top 100 most liquid cryptocurrencies in terms of trading value to be eligible for being in IC15.

What Cryptocurrencies are included in IC15?

IC15 presently consists of Bitcoin, Ethereum, Binance Coin, Solana, Cardano, XRP, Litecoin, chainlink, Polkadot, Uniswap, Terra, Dogecoin, Bitcoin cash, Avalanche, Shia Inu. Among the tokens, bitcoin has the highest weightage of 51.57, whereas Etherium holds 25.79 weightage of the Index. The third most weightage is of the BinanceCoin with 5.03.

The Index also opens the possibilities of the derivates market being open in the future. It will be acting as a performance benchmark for fund managers and having a diversified portfolio.

Disclaimer:

This article is intended for informational purposes only, and should not be considered financial advice. You should consult a financial professional before making any major financial decisions.