Global Crypto Super Application CryptoWire Launches India’s First Cryptocurrencies Index IC15. This IC15 index will track the performance of the most traded cryptocurrencies in the world.
The craze of cryptocurrencies is increasing rapidly in India. Irrespective of the loss, crores of investors of the country are investing heavily in cryptocurrencies. While the craze of cryptocurrencies is increasing among investors, on the other hand, to regulate cryptocurrency, the central government is preparing to introduce a bill named ‘Cryptocurrency and Regulation of Official Digital Currency Bill 2021‘ in the budget session of Parliament. Media reports said the bill seeks to ban all private cryptocurrencies with “some exceptions”.
This index will capture almost 80 percent of the Crypto market movement. It is a fundamental market tracking and assessment tool which is based on decisions and enhances transparency.
The base price of the index has been fixed at 10,000 and the base date is April 1, 2018.
Cryptocurrency Bitcoin, Ethereum, XRP, Bitcoin Cash, Cardano, Litecoin, Binance Coin, Chainlink, Polkadot, Uniswap, Dogecoin, Solana, Terra, Avalanche, and Shiba Inu will be included in the IC15 index.
To be added to the index IC15, a cryptocurrency would need to be trading on at least 90 percent of the trading days during the review period. Also, it should be in the top 50 cryptocurrencies by market capitalization in the last month from review.