London. 13th June 2019 – Cryptoindex has announced today that the 500,000 traditional traders using Reuters and Bloomberg terminals will be able to access information on the 100 best-performing digital tokens and cryptocurrencies using its index. The development of crypto indices demonstrates how far the industry has come in the last decade from being a peripheral concept to a fully integrated and recognised section of the modern financial services industry.
Financial markets have well-established indices such as the Dow, S&P 500, and NASDAQ, that track the performance of a large set of companies. A cryptocurrency index operates in a similar way by organising the top 100 digital currencies into a single portfolio, creating a diversified, cost-effective, and efficient tool for participating in the growth of the cryptocurrency market. By harnessing AI technology, the index uses the proprietary algorithm Zorax to analyse tens of millions of trades and news announcements from the nine largest cryptocurrency exchanges.
Using Cryptoindex, investors can see the top 100 performing coins. Cryptoindex comprises solely of coins that have consistently occupied a position in the top 200 for over three consecutive months are almost always traded on multiple exchanges and has a significant social media following. Rebalancing of the Cryptoindex exchange occurs on a monthly basis and is designed to see through coins that have had their value artificially inflated in any way.
“The index is the culmination of three decades experience in the financial services industry building indices. I have witnessed first hand the growing demand for high-quality insight into the traditionally opaque and misunderstood area of cryptocurrency, which led me to create Cryptoindex,” says Angelo, CEO of Cryptoindex. “Our index takes into account collective sentiments expressed on social media, in addition to complex data analysis of volume trades and predictive analytics.”
“Integrating the CIX100 Cryptoindex demonstrates TradingView’s commitment towards moving FinTech forward and opening new horizons for traders all over the world. Data is rapidly becoming a commodity in its own right, and access to it will define future companies success, we aim to ensure that this is maintained well for all,” says Stan Bokov, CSO at TradingView.
The Cryptoindex is a result of a comprehensive analysis of over 1,800 coins that are subjected to a fixed set of filters. Over 33 terabytes of data is analysed to extract over 200 factors that create a refined ranking in the index, which is then put into a neural network to create a final rating of coins. The Cryptoindex is composed ofthe top 100. This process of re-evaluation happens on a monthly basis and can see the index change on average by 12%.
The index aims to improve information access and transparency available to investors, particularly since the financial services sector is accustomed to greater disclosure and regulation for traditional financial products. Cryptoindex goes to the heart of the cryptocurrency universe while offering a methodology fully suited to the needs and requirements of heavily regulated asset managers, institutional and professional investors. The CIX100 index has outperformed Bitcoin over the course of the last 30 days by increasing 40% compared to 38%.