[ad_1]
CoinMarketCap, a cryptocurrency price index and one of the most popular crypto websites in terms of traffic volume, has announced the launch of two cryptocurrency indexes on Bloomberg Terminal, the Nasdaq Global Index Data Service, as well as Thomson Reuters Eikon and Börse Stuttgart. The indices will be calculated by the German index provider Solactive, according to the details of the Press release posted on the official CoinMarketCap blog on March 20th.
According to the announcement, CoinMarketCap's new benchmarks will offer users the ability to reference coins with and without Bitcoin influence,
"The most comprehensive of the market, covering the top 200 crypto-currencies by market capitalization, one with Bitcoin and one without.
The first indexes entitled CMC Crypto 200 Index (CMC200), which includes Bitcoin, will cover more than 90% of the global cryptocurrency market. The alternative index – without Bitcoin – CMC Crypto 200 ex BTC (CMC200EX) will offer investors the opportunity to consult the market in the absence of Bitcoin, which currently holds nearly 50% of the total market share.
According to Brandon Chez, CEO of CoinMarketCap, the launch of the website on popular terminals such as Bloomberg and Nasdaq will increase user access to crypto-encrypted data and increase penetration in traditional financial markets,
"We are excited to launch and share these clues with the market. These indices will promote greater accessibility to cryptocurrency data in a format that is easier to digest.
In partnership with Solactive, our chosen index administrator, we hope that these professionally calculated indices will be used to extend the reach of cryptocurrencies on the major financial markets. "
The press release also contains information on the history of CoinMarkCap, explaining to users that the company was the first to create and quantify the terms "market capitalization", "outstanding offer" and " Bitcoin's dominance "in reference to the markets of cryptography.
Solactive AG, the independent index provider Germin that will calculate the new CMC indices, is also the provider of the CBOE Bitcoin Futures index and more than 3,000 tailored indices. The press release also states that the company is "fully compliant with the IOSCO principles on financial benchmarks".
Fabian Colin, Sales Manager at Solactive, explained his company's position in launching the CMC indices,
"We are very proud to be chosen as CMC's leading supplier for this exciting journey. The ability to access CoinMarketCap's data gives us the ability to develop custom indexes for new clients. The conversations have already begun.
We look forward to developing more encryption indexes in the future, which will hopefully lead to the creation of indices that can be invested and could lead to new products. "
Although CoinMarketCap has become the most popular portal for investors to view crypto-currency prices, the website has experienced some controversy over the years. In January 2018, the website made the sudden decision remove the Korean markets included in their price list, which would reveal that many first-rate coins apparently lost double-digit percentage points overnight. The result was a mbadive panic of crypto sales, leading to further price declines and contributing to the slump in the early 2018 crypto rebound towards what has become more than a year of "crypto winter" for coin prices.
Just this week, Changpeng Zhao, CEO of Binance, questioned the data presented by popular encrypted price followers such as CoinMarketCap in reply a report alleging that most cryptocurrency trades release false trading volumes.
Source link
