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India gets its first cryptocurrency index to measure the success of Bitcoin, Ethereum, Shiba Inu etc

The cryptocurrency app CryptoWire from Mumbai-based financial content provider TickerPlant has launched India’s first index of global cryptocurrencies, dubbed IC15. According to the business, it is a market capitalization-based rule-based broad market index that tracks the performance of the top 15 widely traded liquid cryptocurrencies published on various crypto exchanges across the world.

So, Bitcoin, Ethereum, Bitcoin Cash, Chainlink, Polkadot, Cardano, Litecoin, Avalanche, Binance Coin, Solana, XRP, Shiba Inu, Terra, Uniswap, and Dogecoin are the top 15 constituents of IC15. Notably, The base value of the index is 10,000 dollars, and the base date is April 1, 2018. The open value of the index on January 1, 2022 was 71,463.30 points.

The index, according to the business, captures over 80% of market activity. Then, and so serves as a fundamental market tracking and grading tool.

“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,”
So, Jigish Sonagara, Managing Director and Chief Executive Officer, CryptoWire says.

In December 2021, TickerPlant released the super app CryptoWire. Which aimed to provide crypto users with real-time market pricing. Then, and insight, news, expertise, research, training, information, and data.

The IC15 index, according to the company, was created to allow users to follow for a diversified portfolio, to act as a performance benchmark for fund managers, to facilitate accurate replication of the index, to be the preferred index for the creation of index-linked products such as index funds, exchange-traded funds, and other similar products, and to position 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,”
Then, Sonagara says.

TickerPlant’s Crypto University, a crypto YouTube channel, and a wire service with capabilities like arbitrage possibilities spotting, watchlist construction, and loan & borrowing rates provide learning content in digital currencies. Among the company’s board members were former Supreme Court judge Justice Deepak Verma, IIM Bangalore retired professor R. Vaidyanathan, former CBDT Chairman Mukesh Joshi, and former RBI executive director Dr. RB Barman.

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