CoinMarketCap is launching 2 new indices with the help of Nasdaq, Thomson Reuter, Bloomberg, and Germany’s very own Börse Stuttgart, in an effort to provide an easier to digest cryptocurrency index.
Two cryptocurrency indices are launching today on financial data feeds from Nasdaq Global Index Data Service, Thomson Reuters Eikon, Bloomberg Terminal, and Germany’s Börse Stuttgart. CoinMarketCap announced that only the top 200 cryptocurrencies will be listed on these indices. The first index is called the “CMC Crypto 200 Index” or CMC200 for short. The coins will be listed based on their market capitalization. The CMC200 will include Bitcoin, the second index will not.
The second index will be the “CMC Crypto 200 ex BTC Index” or CMC200EX. This index will follow the market capitalizations of the top 200 coins without the influence of Bitcoin. That means Bitcoin will not be listed on this index. We all know the influence bitcoin price action has on altcoins, especially since it has just over 50% dominance in the whole cryptocurrency market.
Solactive, a Germany based provider of financial indexes will organize and administer both the indices. CoinMarketCap will provide the price data and work alongside Solactive in an effort to provide the best cryptocurrency price feeds for the new indices.
This is an exciting step towards mass adoption as the biggest names in the financial district are lending a hand in this, Nasdaq, Thomson Reuters, and Bloomberg.