Altcoin News: Nasdaq Lists Crypto Index for Top 100 Coins
October 15, 2019, by Marko Vidrih on ALTCOIN MAGAZINE
Nasdaq Stock Exchange added to its platform crypto index CIX100, established by crypto data provider Cryptoindex, writes Cointelegraph.
The CIX100 uses neural network algorithms to form a basket of 100 leading cryptocurrencies based on more than 200 factors. It is assumed that such a system allows excluding coins with fake volumes from the index. The tool is aimed at both professional investors and new market participants.
According to the publication, CIX100 uses the data of the nine largest cryptocurrency exchanges, which collect information on millions of transactions, as well as information from social networks and news resources.
Only coins that have been in the top 200 for at least three consecutive months can be included in the final index. Rebalancing of the tool is carried out monthly.
Prior to this, the Cryptoindex was added to services such as Reuters, Bloomberg and TradingView. Its initial launch took place on May 2017.
Cryptoindex entered into cooperation with Nasdaq in June this year with the aim of developing pricing products in the cryptocurrency market for institutional investors.
Earlier, Nasdaq, among other participants in the World Federation of Exchanges, called on the UK Financial Regulatory Authority not to ban Bitcoin derivatives for retail investors.
Author: Marko Vidrih
