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CoinMarketCap indices to feature on Reuters, Bloomberg and Nasdaq

CoinMarketCap’s two benchmark indices for predominant cryptocurrencies have been unveiled on its native platform as well as on the leading global financial data feeds, such as Bloomberg Terminals, Thomson Reuters Eikon (Refinitiv), Börse Stuttgart, and Nasdaq GIDS.

You may think price alone is a solid way to measure the value of a cryptocurrency. Let’s dive into why that is not true, and why you should use the market cap to value a token.

Cryptocurrency market capitalization is a barometer that signifies the market value and size of a cryptocurrency market, most importantly, it should not be misinterpreted as ‘Total Fiat Investment’.

Hence, the cryptocurrency market cap is exemplified by the simple equation: the current market price is multiplied by the actually circulating supply of crypto-coins (total number of coins available in the market).

CoinMarketCap’s two indices, namely, CMC Crypto 200 Index (CMC200) and CMC Crypto 200 ex BTC Index (CMC200EX), encompass the top 200 cryptocurrencies by market capitalization.

The first index (CMC200) has been developed by CoinMarketCap which is the one that comprises Bitcoin, which has lion’s share over 90 percent of the world’s crypto market, according to the company.

The latter one (CMC Crypto 200 ex BTC Index (CMC200EX)), does not include Bitcoin, as it is designed as a barometer to monitor the market’s performance excluding the influence of BTC in the overall crypto-avenue.  

As per the blog space, CoinMarketCap pioneered importance of market capitalization of crypto-spcae, wherein, the CEO of CoinMarketCap, Brandon Chez, says “these indices will promote greater accessibility to cryptocurrency data in an easier-to-digest format. In partnership with Solactive, our chosen index administrator, we hope these professionally-calculated indices will serve to expand the reach of cryptocurrencies into the larger financial markets.”

And also clarified that they have collaborated with German index provider Solactive also for computing and administering the indices, as well as rebalancing them on a quarterly basis.

Currency Strength Index: FxWirePro's hourly BTC is flashing at 88 (bullish), the hourly USD spot index is inching towards -22 levels (mildly bearish), while articulating at 13:13 GMT. 

For more details on the index, please refer below weblink: http://www.fxwirepro.com/currencyindex

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