The world’s second-largest stock exchange, Nasdaq, has listed a new cryptocurrency index that’s designed to eliminate fake trading volumes.
Created by Cryptoindex in May of 2017, the CIX100 index tracks the 100 best-performing cryptocurrencies by pulling data from nine top exchanges. The index is up 1096.73% since its launch date.
According to the company’s announcement on Facebook,
“The Cryptoindex.com team is honored to be listed on Nasdaq, which has always been a key platform for institutional investors to monitor traditional indices. Now it’s time for a cryptocurrency one.
Cryptoindex’s methodology meets the needs and requirements of heavily regulated asset managers, plus institutional and professional investors.”
The company notes,
“Cryptoindex 100 is a digital expression of the top 100 coins, that rebalances itself continuously as the cryptocurrency market ebbs and flows. Rebalancing of the Cryptoindex 100 happens monthly and the data is streamed from the exchange APIs taking all trades for each particular coin.”
The CIX 100 API integration:
Clean, reliable cryptocurrency data continues to address allegations detailed earlier this year by Bitwise Asset Management – that 95% of unregulated cryptocurrency exchanges pump up figures and fudge activity, spitting out false data.
Using an AI algorithm, the Nasdaq-listed CIX100 index also taps numerous data points from the largest social media networks, including Telegram, Facebook, Bitcointalk, Twitter, Medium, Steemit and Reddit.