ICONOMI Cryptocurrencies Index (ICNX) — 27 October 2016 triggered rebalancing

Bitcoin has been showing a strong appreciation in the final days of October. The first substantial price hike happened on October 20–22, and second jump on October 26–27. On 27 October 2016 Bitcoin’s weight surpassed 20% of the total ICNX, which triggered an immediate index rebalancing.

Changes

With October almost at an end, our regular monthly index update was also mostly ready. Therefore we decided to include the changes in this triggered, immediate rebalancing.

As seen in the table below, DigixDAO, Storjcoin X and Bitcrystals are leaving the index, as their daily average turnovers for the last 30 days were below the minimum threshold specified in the ICNX methodology ($50k).

The new addition to the ICNX is GameCredits (GAME).

All other currencies have been rebalanced according to their weights/performance in the last month.

New structure of the ICNX, as of 27 October 2016:

We will provide additional information on the ICNX in a longer update that will follow in the second half of next week, as Monday and Tuesday are national holidays in Slovenia.