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What is IC15, India's first index of cryptocurrencies

BY READERS DIGEST

24th Jan 2022 Technology

What is IC15, India's first index of cryptocurrencies

Cryptocurrencies are gaining popularity constantly and are making the headlines regularly. Despite its increasing popularity, people are not much aware of them.

CryptoWire has launched IC15 to strengthen and increase awareness about cryptocurrencies and blockchain technology in India. IC15 is the first index of cryptocurrencies in India launched by Cryptowire, which is a super application for global cryptocurrencies. CryptoWire is a significant business component of TickerPlant. It was launched in December last year by TickerPlant to help the users of cryptocurrency with immediate market prices and awareness.

IC15 is a comprehensive index of the cryptocurrency market. It puts in order the cryptocurrencies based on their market cap. It is also the first of its kind in India. It traces and calculates the accomplishments of the 15 topmost, extensively traded and most fluid cryptocurrencies of the world. Also, these topmost cryptocurrencies are traded on the leading crypto exchanges of the world.

Cryptocurrencies have appeared as a class of asset in the last few years. They are also obtaining broader adoption and curiosity of the public. IC15 seizes more than 80% of the movement of the market. As a consequence, it is the foundational market tracing and evaluating instrument to establish conclusions on and build up liquidity. 

Cryptowire has an Index Governing Committee. It contains area authorities, industry interpreters, and scholars. Their task is to preserve, scan, and direct the index, readjusting the balance every quarter at the same time. IC15’s base brice is placed at 10000. Also, its base date is April 1, 2018.

Some major cryptocurrencies that are parts of IC15 are namely, Bitcoin, Binance Coin, Shia Inu, Chainlink,  Ethereum, etc. Crypto Wire’s MD & CEO, while launching the index, said that the purpose of launching IC15 is to finish the comprehension circle for cryptocurrencies and blockchain technology. CryptoWire wants to enable the growth of the market and completely reduce uncertainty by introducing various instruments to judge prospects and make commitments.

The company is based in Mumbai. It has created IC15 to give perceptions about the mining of cryptocurrencies. It is an absolute standard and a reflection of the basic market of cryptocurrencies. IC15 will provide a varied depiction of the general point of view of the market. 

According to CryptoWire, IC15 sets forth an effortless solution to pursue having a varied portfolio and functions as an execution standard for managers. Moreover, it places the index for methodical copies trading in the trading marketplace of cryptocurrencies. 

All parties should fully use this experimentation-directed and technology-generated window of opportunity that we have launched. CryptoWire will be working to provide understanding, investigation, and direction to the people in the crypto industry. It will assist the participants in making knowledgeable resolutions. IC15 is said to be one more footstep towards this aim. 

IC15 is a pre-weighted index. Every cryptocurrency is provided with a weightage comparable to its price per token. Bitcoin is weighted at 51.57, while Ethereum is weighted at 25.79. 

The divisor will be calculated, making use of the entire market capitalisation of all index parties. The index goes through formalisation during every readjusting period, during which it is increased with a specified normalising factor. 

The index will be continuously observed and inspected for analysis and readjustment quarterly. The date of cut-off for evaluating has been decided previously at the 15th day in the calendar in four months. The four months are March, June, September, and December. 

The index has a lot in store for cryptocurrency enthusiasts. Since cryptocurrency is gaining acceptance everywhere, it was essential to establish such an index. It has opened a lot of opportunities for digital currency and its supporters in India. For more information on cryptocurrencies, keep in touch with crypto superstar.

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