CoinMarketCap announced the news Wednesday, saying that the benchmark indices will be the "Most comprehensive" crypto data offerings for the markets, covering the top 200 cryptocurrencies by market capitalization, one including bitcoin and the other without.
The first index is named CMC Crypto 200 Index, which includes bitcoin, and covers more than 90 percent of the global cryptocurrency market, the firm said.
The second, CMC Crypto 200 ex BTC Index, tracks the market's performance without the influence of bitcoin.
The world's largest cryptocurrency, bitcoin currently has just over 50 percent dominance of the total market capitalization.
"These indices will promote greater accessibility to cryptocurrency data in an easier-to-digest format," said CoinMarketCap CEO Brandon Chez.
CoinMarketCap has partnered with Germany-based provider of financial indices Solactive for the effort, which will calculate and administer both the indices, as well as rebalance them on a quarterly basis, according to the announcement.
"We are looking forward to developing more crypto indices in the future, which will optimistically result in investable indices and might lead to further products."
Earlier this week, CoinMarketCap also added crypto asset letter grades to its platform from blockchain analytics startup Flipside.
The Fundamental Crypto Asset Score metric developed by Flipside evaluates factors such as developer activity and a broad set of transaction data.
CoinMarketCap Crypto Indices Launch on Nasdaq, Bloomberg, Reuters
Published on Mar 20, 2019
by Coindesk | Published on Coinage
Coinage
Mentioned in this article
Recent News
View All
Blockchain Bites: Bitcoin's Run, Uniswap's Hemorrhaging Value, Anchorage's Banking Bid
Bitcoin is nearing all-time highs in price and market cap last set three years ago.
Japan's megabanks to lead experiment with digital yen
We have, in order, Cheese Bank with a $3.3 million theft, Akropolis with its $2 million loss, Value DeFi with a whopping $6 million exploit and finally Origin Protocol's loss of $7 million.
Number of new Bitcoin addresses spikes amid growing FOMO
Japan's three largest banks, as part of a group of 30 private sector actors, are set to collaborate on an experiment with a digital yen.
Not just Wall Street: Quant trader explains why Bitcoin price is going up
Sam Trabucco, a quantitative trader at Alameda Research, believes four general factors are pushing up the price of Bitcoin.