New Delhi: India’s largest crypto Investment App, CoinSwitch, Launched Thursday crypto rupee index ,CRE8), which is the country’s first benchmark index to measure the performance of the rupee-based crypto market.
CRE8 tracks the performance of eight crypto assets that represent over 85% of the total market capitalization of cryptos traded in Indian Rupees. The index is based on actual trades on the CoinSwitch app, which the company claims has 18 million registered users.
The index constituents are bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), Ripple (XRP), Cardano (ADA), Solana (SOL), Polkadot (DOT) and Dogecoin (DOGE).
The Crypto Rupee Index (CRE8) is the first in the Indian market, which earlier “had to rely on international indices based on US Dollars,” tweeted Ashish Singhal, CEO and co-founder of CoinSwitch. “But these indices do not give an accurate picture of the Indian market and miss the supply-demand dynamics of India’s growing investor base,” he said.
The company says that the CRE8 will be refreshed over 1,400 times a day to ensure a reflection of real-time market movements. The index will be rebalanced monthly and recalculated every quarter to stay updated with the market.
Note: Trading volume in India has fallen recently due to a stringent new crypto tax and other regulatory hurdles such as is i services being disabled crypto investment,
CRE8 tracks the performance of eight crypto assets that represent over 85% of the total market capitalization of cryptos traded in Indian Rupees. The index is based on actual trades on the CoinSwitch app, which the company claims has 18 million registered users.
The index constituents are bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), Ripple (XRP), Cardano (ADA), Solana (SOL), Polkadot (DOT) and Dogecoin (DOGE).
The Crypto Rupee Index (CRE8) is the first in the Indian market, which earlier “had to rely on international indices based on US Dollars,” tweeted Ashish Singhal, CEO and co-founder of CoinSwitch. “But these indices do not give an accurate picture of the Indian market and miss the supply-demand dynamics of India’s growing investor base,” he said.
The company says that the CRE8 will be refreshed over 1,400 times a day to ensure a reflection of real-time market movements. The index will be rebalanced monthly and recalculated every quarter to stay updated with the market.
Note: Trading volume in India has fallen recently due to a stringent new crypto tax and other regulatory hurdles such as is i services being disabled crypto investment,