Bitmain purchases cryptocurrency index for market performance

Monday 3 December 2018 14:29 CET | News

Bitmain has launched a digital assets index, BCI, to provide institutional and retail investors with a transparent methodology to track cryptocurrencies trades.

The solution is meant to track the performance of 17 cryptocurrencies by market capitalization, denominated in US dollars. The coins in the basket currently are: Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), EOS, Ethereum Classic (ETC), Litecoin (LTC), XRP, Dash, IOTA, NEO, Monero (XMR), Cardano (ADA), Tron (TRX), Icon (ICX), Lumens (XLM), Zcash (ZEC), and OmiseGo (OMG).

Moreover, the BCI will comprise a real-time spot price, which will be updated every second, and a daily reference price, published once a day. The company also mentioned that the price data would be collected from a number of crypto exchanges that fulfill the set of criteria, such as price transparency, regulatory and compliance level, trading volume, frequency and quality of the price data, jurisdiction, and reputation. The list of selected platforms currently includes: Bitfinex, Binance, Bitstamp, Bittrex, GDAX, Gemini, Huobi, Itbit, Kraken, OKEX, and Poloniex.

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Keywords: Bitmain, cryptocurrency, coins, exchanges, regulations, trading volume, jurisdiction, China
Countries: World