CryptoWire launches India’s first index to measure efficiency of high cryptocurrencies

Cryptocurrency app CryptoWire on Monday introduced the launch of India’s first index of cryptocurrencies – IC15. The firm mentioned that it’s a rule-based broad market index by market capitalisation, which tracks and measures the efficiency of the highest 15 broadly traded liquid cryptocurrencies listed on main cryptocurrency exchanges of the world.
The 15 cryptocurrencies embrace Bitcoin, Ethereum, Binance coin, Solana, Cardano, Ripple, Terra, Dogecoin and Shiba inu, amongst others. The base worth of the index is ready at 10,000 and the bottom date is 1 April 2018. As of 1 January 2022, IC15 index open worth stood at 71,463.30 factors.
It needs to be famous that an any index that captures over 80 per cent of market motion is, thus, a basic market monitoring and assessing software to base choices on.

The firm famous that it has a CryptoWire’s Index Governance Committee – comprising area specialists, business practitioners and academicians  that can keep, monitor and administer the index whereas rebalancing it each quarter.
“With the launch of India’s first index of crypto IC15, we intend to complete the knowledge circle for the entire crypto and blockchain ecosystem. This will not only push the ‘learn before earn’ initiative but also serve the industry with yet another powerful intervention,” mentioned Jigish Sonagara, Managing Director and CEO, CryptoWire.

“We want all participants to utilise to the fullest, this research-oriented technology-powered opportunity that we present to them for tracking the market. CryptoWire is positioned to emerge as the partner of industry to spread knowledge, research and information and help participants take informed decisions. IC15 is another step towards this goal.”
According to  Cryptowire, the IC15 index has been designed with the target of presenting a straightforward answer to comply with for having a diversified portfolio, appearing as a efficiency benchmark for fund managers and facilitating correct replication of the index and be the popular index for creation of index-linked merchandise equivalent to index funds, exchange-traded funds, and so forth.