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India has received the first cryptocurrency index known as IC15 in January 2022. It is launched by CryptoWire, the global cryptocurrency super app. The aim is to track the performance of the 15 most-traded cryptocurrencies that are listed on the leading exchanges across the world. The cryptocurrency index in India will help crypto investors to have a strong understanding of the process of virtual coin trading. Let's get into details of IC15, being India's cryptocurrency index.
IC15 consists of a governance committee including industry expertise domain professionals, and many more. The committee is in charge of monitoring as well as maintaining the index with the reshuffling of the top fifteen cryptocurrencies in the cryptocurrency market. India's cryptocurrency index is launched to increase the awareness and knowledge of cryptocurrency, crypto mining, crypto EFTs, funds, cryptocurrency market, as well as blockchain technology.
The cryptocurrency index in India needs to address the development of the cryptocurrency market while mitigating potential risks through possibilities and the right decisions. This platform will provide crypto investors with the research-oriented and technology-powered opportunity for careful monitoring and tracking of the highly volatile cryptocurrency market. The first cryptocurrency index in India is set to provide diversified investment solutions to investors as well as investment managers.
It is essential for fifteen cryptocurrencies to trade on at least 90% of crypto trading days during the whole period of review as well as remain in the top 50 as per the marketing capitalization in the preceding month. There is also another regulation that all fifteen cryptocurrencies should be amongst the top 100 most liquid cryptocurrencies for trading value to be eligible for being in the IC15.
IC15 will consist of Bitcoin, Ethereum, Cardano, Binance Coin, Solana, XRP, Polkadot, Litecoin, Chainlink, Uniswap, Terra, Dogecoin, ShibaInu, Avalanche, and Bitcoin Cash. CryptoWire has mentioned that the committee will review and re-balance the cryptocurrency index of India every quarter.
CryptoWire is focused on emerging as the full suite of real-time price and insights on cryptocurrencies including news, relevant information, awareness, and real-time data. CryptoWire super app consists of the world's first-ever Crypto University, CryptoWire, and Crypto TV.
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