Cryptocurrency app Cryptowire has rolled out the IC15 index in India which will monitor the performance of 15 most traded cryptocurrencies in the world. CryptoWire is a specialized business unit (SBU) of crypto statistics provider Tickerplant. According to a press release from the company, the launch aims to increase awareness and knowledge about the crypto and blockchain ecosystem and further the “learn before you earn” concept among investors. The development comes at a time when India is witnessing a boom in adoption of the crypto culture, despite prevailing concerns around regulation.
Governance Committee of IC15 index This includes domain experts, industry practitioners, as well as academics. They will maintain, monitor and administer the index, rebalancing it every quarter.
“Our approach is to facilitate market development and substantially reduce risk by offering all possible tools to evaluate prospects and make decisions. We want all participants to use this research-oriented, market tracking approach. Make full use of the technology-driven opportunity,” said Jigish Sonagara, Managing Director and CEO, Cryptowire, in a statement.
To be eligible for this list, a cryptocurrency Must be traded on at least 90 percent of trading days during the review period and be in the top 50 in terms of market capitalization circulating during the previous month, among other criteria.
By 1 January 2022, Bitcoin, Ethereum, Binance Coin and Solana occupy the top four positions on the IC15 index.
This index can help the growing number of crypto investors in India make informed decisions.
Many studies from research firms such as seer guru And BrokerChoose has revealed that India has the largest number of crypto investors in the world. This number is around 100 crores.
The country is yet to announce regulatory laws around the crypto sector.
India’s most awaited crypto bill The bill, which was to reach the table of Parliament during the winter session, was sent to the cabinet for approval earlier this month. There has been no official word on the bill since then.
calls for bills Sanctions Keeping all private cryptocurrencies out of operation in the country as well as keeping in mind that the Reserve Bank of India is working on bringing in a centralized national digital currency.
Cryptocurrency is an unregulated digital currency, is not legal tender and is subject to market risks. The information in this article is not intended to be financial advice, trading advice or any other advice or a recommendation of any kind offered or endorsed by NDTV. NDTV shall not be liable for any loss arising out of any investment based on any alleged recommendation, forecast or any other information contained in the article.
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