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A crypto index is a definite portfolio of selected cryptocurrencies that can be purchased, sell or exchange with a single click, instead of going through the purchase and sale process of each currency individually. It helps you easily diversify your cryptocurrency portfolio. In a nutshell, it is a list of digital assets in which its market and value performance is taken into account among other parameters.
It is an indicator of the cryptocurrency market state. The IBEX 35, for example, is the index with the stock values of the 35 main companies in Spain. One of the crypto indexes would be Bita 10, which began operating in 2018 or Crypto 10 for reflecting daily in the evolution of the ten main cryptocurrencies of the market.
The operation of the crypto index seeks to provide a reliable image of the evolution of cryptocurrencies constantly. To do this, it reflects daily the evolution of the ten main digital assets of the market. Since the launch of the first cryptocurrency index, it has been considered something important to understand the performance of cryptocurrencies that compose it, and, in general, that of the cryptocurrency market.
Each index has its own criteria and rules to function. For the calculation of the Bita 10 cryptocurrency index, for example, only those cryptocurrencies that are available to negotiation are used, and that respond to the classNameification criteria of the index itself.
The presentation of the index is made based on the capitalization of the selected cryptocurrency. Only tokens or cryptocurrencies that are negotiated exclusively in the bags, which have exceeded quantitative and qualitative requirements, are taken into account and classNameified according to market capitalization.
As happens, for example, with the stock market indexes, measures of the evolution of the assets that make up the index are established. These measures are those that determine the value of the index at all times, and those that serve as a market thermometer: when the index progresses the market is raising value, when the index goes back the market is lowering value.
The composition of the crypto 10 index list is not fixed since it depends on the performance of the assets that compose it, therefore a cryptocurrency can enter or leave this list depending on its performance and evolution.