Article Reading Time:
1 min.
Largest Indian CryptocurrencyThe CoinSwitch exchange launched an index to assess the state of the digital asset market, created based on an analysis of transactions with eight leading cryptocurrencies. Data are denominated in Indian rupees.
CRE8 (Crypto Rupee Index) is set to become India's first benchmark index measuring the performance of the cryptocurrency market.
The CRE8 index is aimed directly at Indian investors and tracks the eight most popular crypto assets in the country: BTC, ETH, XRP, BNB, ADA, SOL, DOT and DOGE.
The index will provide users with information aboutthe current state of the cryptocurrency market in real time based on the actual results of transactions conducted on CoinSwitch. Data relevance is achieved through at least 1,400 daily updates and monthly rebalancing to bring it into line with the current market situation.
"CRE8 provides real-timean idea of the cryptocurrency market in terms of Indian rupees. The index is based on the results of actual transactions involving more than 18 million users,” says CoinSwitch co-founder and CEO Ashish Singhal.
In May, Ashish Singhal, CEO of the CoinSwitch crypto exchange, said that uncertainty in the rules for regulating cryptocurrencies in India is hindering the development of the industry in the country.
</p>Read this:
CoinSwitch CEO: “cryptocurrencies are unlikely to be banned in India”
The head of the central bank of India saw cryptocurrencies as a threat to the country's economy
China Stock Exchange Launches Blockchain Companies Index
BTC trade volumes rise in India after Central Bank ban is lifted
Hang Seng Indexes launches China Metaverse Activity Index
KuCoin Analysts List India's Most Popular Cryptocurrencies