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Understanding cryptocurrency
Earlier this month, CryptoWire, a cryptocurrency super app, announced the establishment of the country's first cryptocurrency index, which will assess the performance of the 15 most commonly traded cryptocurrencies listed on recognized cryptocurrency exchanges, as measured by market capitalization. CryptoWire managing director Jigish Sonagara stated at the time of the crypto index launch that "the index has been designed to provide insights into crypto mining as well as the true benchmark and mirror of the underlying crypto market, a barometer of the industry in a sense, with a diversified representation of overall market sentiments." What is the bitcoin index, and how does it work? The IC15 crypto index, which tracks and measures the performance of the top 15 commonly traded liquid cryptocurrencies listed on the world's largest cryptocurrency exchanges, follows and measures the performance of the top 15 extensively traded liquid cryptocurrencies. The IC15 crypto index is governed by an international governance committee (IGC) comprised of domain experts, industry practitioners, and academics. They will be in charge of monitoring, maintaining, and administering the index, including rebalancing the top 15 cryptocurrencies quarterly. How do IC15 works? CryptoWire has developed a rule-based wide market index based on market capitalization to coincide with the advent of cryptocurrencies as an asset class. To this end, CryptoWire has organized an Index Governance Committee, which will consist of domain experts, industry practitioners, and academics who will choose cryptocurrencies from among the top 400 coins in terms of market capitalization. To be eligible for inclusion in the index, a cryptocurrency must have traded on at least 90 percent of the days during the evaluation period. It must rank among the top 100 most liquid cryptocurrencies in terms of market value, as determined by trading volume. In addition, the qualified coin should rank among the top 50 most valuable cryptocurrencies in terms of circulating market capitalization. A committee will select the top 15 cryptocurrencies. What exactly is the index's purpose? Investors will grow more familiar with the bitcoin ecosystem as time goes on. Aside from cryptocurrency investors, enthusiasts, and investment managers will also profit from the crypto index India, which will give a comprehensive picture of the global financial markets. By presenting all available tools for evaluating options and making choices, the tool seeks to assist market growth while also mitigating risk to a significant degree. In addition to supporting the 'learn before earning' approach, it will provide the sector with yet another significant intervention. What are the elements that make up the index? Indian Cryptocurrency indexes such as Bitcoin, Ethereum, XRP, Bitcoin Cash, Cardano, Litecoin (Binance Coin), Chainlink (Polkadot), Uniswap (Dogecoin), Solana (Terra), Avalanche (Shia Inu), and Avalanche (Shia Inu) will be included in IC15 crypto index. What procedures must be followed for cryptocurrencies to be listed? To be included on the index, a crypto index in India must be actively traded on at least 90 percent of the trading days during the evaluation period, as well as rank among the top 50 most valuable Indian Cryptocurrency indexes in terms of circulating market capitalization over the prior month


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