ICONOMI Cryptocurrencies Index (ICNX) 31 January 2017 Rebalancing
2016 was a great year for the blockchain industry and 2017 started in the same fashion. During January the price of the bitcoin rose steadily. The beginning of January saw a significant growth for Ethereum (ETH) as well, reaching $11,70 on 5 January. The value of ICONOMI.index token (ICNX) increased by 34% from the last rebalancing.
With rebalancing, we re-set the weights of included crypto assets, but as per ICNX methodology we have also changed ICNX composition.
With the January rebalancing we also updated the index rules.
- In the case of the occurrence of higher than 5% monthly inflation, the trading volume should be 10x the inflation level.
- Tokens will leave the index in the case of a trading volume lower than $50k for two consecutive months.
This is the new ICNX composition from 31 January 2017:
What was removed
With the implementation of the new inflation rule, Zcash has left the index, due to having reached very high inflation, which did not match its trading volume.
What was added
We have returned Synereo (AMP) and Siacoin (SC) to the ICNX. Both tokens have kept a stable trading volume in the past month, above the average daily $50k turnover.
ICONOMI.index (ICNX) token rebalancing
As communicated in a previous rebalancing blog, the first investment in ICONOMI.index token was executed at midnight on December 21 2016. Therefore, this month’s rebalancing was done for the first time with actual assets inside. We had to move the assets accordingly, in order to match the changes in the index. With a few users who have access to the platform, we now have an estimated value in the ICNX of approximately $30.000 USD.
The value of ICONOMI.index token (INCX) went up from 0.100 USD on December 21 to 0.134 USD on January 31, which represents a 34% increase in value in 40 days.