April 25, 2024

Nasdaq Added CIX100 Index Including TOP-100 Cryptocurrencies

Nasdaq Added CIX100 Index Including TOP-100 Cryptocurrencies

The Nasdaq Stock Exchange has added the CIX100 cryptocurrency index to its platform, created by a data provider.Cryptoindex, Cointelegraph writes.

CIX100 uses neural network algorithms toforming a basket of 100 leading cryptocurrencies based on more than 200 factors. It is assumed that such a system allows excluding coins with fake volumes from the index. The tool is aimed at both professional investors and new market participants.

To compile the CIX100, we use the data of the nine largest cryptocurrency exchanges, which collect information on millions of transactions, as well as information from social networks and news resources.

Only coins that have been in the top 200 for at least three consecutive months can be included in the final index. Rebalancing of the tool is carried out monthly.

Prior to this, the CIX100 index was added to services such as Reuters, Bloomberg and TradingView. Its initial launch took place in May 2017.

Earlier, Nasdaq, among other participants in the World Federation of Exchanges, called on the UK Financial Regulatory Authority not to prohibit bitcoin derivatives for retail investors.