Summary
CoinDesk Indices has launched the CoinDesk20 index, which serves as a comprehensive benchmark for the crypto market. The index includes major cryptocurrencies such as bitcoin and ether, as well as other tokens like filecoin, XRP, and dogecoin. Bitcoin and ether account for slightly over 50% of the index, while the remaining tokens make up the rest. The CoinDesk20 index aims to provide a similar function to the S&P 500 in traditional markets.
Key Points
1. CoinDesk Indices has launched the CoinDesk20 index, which serves as a comprehensive benchmark for the cryptocurrency market, covering over 90% of its total value.
2. While bitcoin and ether make up slightly more than 50% of the index, other tokens like filecoin, stellar’s XLM, aptos’ APT, XRP, dogecoin, and more contribute to the remaining portion, creating a diverse representation of the market.
3. The CoinDesk20 index aims to provide a similar function as the S&P 500, acting as a gauge for the overall performance and trends within the cryptocurrency market.