Cryptowire, an India based ‘Crypto Super App’ which offers Knowledge, Research, Training, Awareness, Information and Data on digital assets, launches India’s first cryptocurrency index IC15.
What is IC15?
The INDEX OF CRYPTOS (IC15) is a rule-based broad market index by market capitalization, that tracks the performance of top 15 widely traded liquid cryptocurrencies in the world. The index enables crypto enthusiasts, investors, and investment managers to monitor the performance of top cryptocurrencies in the global markets.
The 15 cryptocurrencies currently tracked by IC15 include Bitcoin, Ethereum, Binance Coin, Solana, Cardano, XRP, Terra, Avalanche, Polkadot, Dogecoin, SHIBA INU, Uniswap, Litecoin, Chainlink, and Bitcoin Cash.
| IC15 Basket Jan – Mar 2022 | Weight (%) |
| Bitcoin | 51.57 |
| Ethereum | 25.79 |
| Binance Coin | 5.03 |
| Solana | 3.1 |
| Cardano | 2.58 |
| XRP | 2.33 |
| Terra | 1.82 |
| Avalanche | 1.57 |
| Polkadot | 1.55 |
| Dogecoin | 1.33 |
| SHIBA INU | 1.08 |
| Uniswap | 0.63 |
| Litecoin | 0.6 |
| Chainlink | 0.54 |
| Bitcoin Cash | 0.48 |
CryptoWire’s Index Governance Committee comprising domain experts, industry practitioners and academicians, will maintain, monitor and administer the index while rebalancing it every quarter.
The base value of the index is set at 10,000 and the base date is 1 April 2018. As of 1 January 2022, IC15 index open value stood at 71,463.30 points.
Crypto Index serves as a benchmark for fund managers
CryptoWire IC15 cryptocurrency index has been designed with the objective of presenting an easy solution to follow for having a diversified portfolio, acting as a performance benchmark for fund managers and facilitating accurate replication of the index and be the preferred index for creation of index-linked products such as index funds, exchange-traded funds, etc.
Jigish Sonagara, CryptoWire Managing Director and CEO, commented:
“With the launch of India’s first index of crypto IC15, we intend to complete the knowledge circle for the entire crypto and blockchain ecosystem. This will not only push the ‘learn before earn’ initiative but also serve the industry with yet another powerful intervention. At CryptoWire, our approach is to facilitate market development and mitigate risk to a great degree by presenting all possible tools to evaluate possibilities and make decisions.”
CryptoWire was launched in December by TickerPlant, a subsidiary of 63 Moons Technologies Limited.
It is important to note that there is still a regulatory uncertainty in India. The government was supposed to introduce a crypto bill to regulate the market, but it got postponed.
Read Also: A Complete Guide to Cryptocurrency Indices