Monday, January 3, 2022

Cryptowire Launches India's First Global Index Of Crytocurrencies – IC15

* 15 comprises Top 15 global cryptocurrencies in terms of market capitalization and liquidity

* As on 01 Jan 2022, IC15 Open value: 71,463.30 Points

With a view to empowering knowledge on crypto and blockchain ecosystem, CryptoWire, the global crypto super app which is a Special Business Unit (SBU) of TickerPlant, today announced the launch of India’s first index of cryptocurrencies — IC15.

The IC15 is a rule-based broad market index by market capitalization, which tracks and measures the performance of Top 15 widely traded liquid cryptocurrencies listed on leading crypto exchanges of the world.

Over the past years, cryptocurrencies have emerged as an asset class in themselves, gaining wider acceptance and drawing people’s interests. An index that captures over 80 percent of market movement is, thus, a fundamental market tracking and assessing tool to base decisions on and enhance transparency.

CryptoWire's Index Governance Committee comprising domain experts, industry practitioners and academicians, will maintain, monitor and administer the index while rebalancing it every quarter. The Base Value of the index is set at 10,000 and the Base Date is April 1, 2018.

IC15 has been designed with the objective of:

•        Insights of crypto mining.

•        Being the true benchmark and a mirror of the underlying crypto market – a barometer of the industry in a sense, with a diversified representation of overall market sentiments.

•        Presenting an easy solution to follow for having a diversified portfolio.

•        Acting as a performance benchmark for fund managers.

•        Facilitating accurate replication of the index and be the preferred index for creation of index linked products like index funds, ETFs, etc.

•        Uniquely positioning the index for efficient derivatives trading in the cryptocurrency trading marketplace.

“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. At CryptoWire, our approach is to facilitate market development and mitigate risk to a great degree by presenting all possible tools to evaluate possibilities and make decisions. We want all participants to utilize, 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,” said Mr. Jigish Sonagara, MD & CEO, CryptoWire.

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