March 20, 2019

CoinMarketCap Partners With Solactive to Launch Two Separate Crypto Indices

Top crypto data provider CoinMarketCap has announced the launch of two cryptocurrency benchmark indices on financial data feeds from Nasdaq Global Index Data Service (GIDS), Bloomberg Terminal, Thomson Reuters Eikon (Refinitiv) and Germany’s Börse Stuttgart, as well as its own data feed.

Two Indices, One with BTC One Without

According to the announcement from CoinMarketCap, this newly launched benchmark indices will be the “most comprehensive” of all data relating to crypto found on any platform available right now. The data will cover the top 200 cryptocurrencies by market capitalization. One of the indices will cover bitcoin (BTC) while the other will exempt the top coin.

The first index which will include bitcoin (BTC) is named CMC Crypto 200 Index (CMC200). This index will cover over 90 percent of the global crypto market. The second index identified as, CMC Crypto 200 ex BTC Index (CMC200EX), will help keep track of the crypto market performance and conditions without being influenced by bitcoin. With bitcoin having more than 50 percent market dominance in terms of capitalization, the coin is surely the world’s largest cryptocurrency. So its influence on the entire market is not negligible.
According to CoinMarketCap CEO Brandon Chez, “These indices will promote greater accessibility to cryptocurrency data in an easier-to-digest format,”

CoinMarketCap Partners with Solactive

CoinMarketCap also revealed in its announcement that it has partnered with Germany-based provider of financial indices Solactive to help calculate and administer both the indices. The German company will also help with the rebalancing of the indices on a quarterly basis. However, Price data will be provided by CoinMarketCap.

Solactive’s head of sales Fabian Colin has also expressed his delight regarding the partnership. He stated that:

“We are looking forward to developing more crypto indices in the future, which will optimistically result in investable indices and might lead to further products.”

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source: https://coindoo.com/coinmarketcap-partners-with-solactive-to-launch-two-separate-crypto-indices/

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Published at Wed, 20 Mar 2019 14:05:52 +0000

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Max Keiser: BTC to $100,000

Ever-the bitcoin bull, Max Keiser has declared that he thinks bitcoin’s top will be $100,000. According to Russia Today, the network on which Keiser has a regular slot on global economics, Keiser stated in an interview that the world’s leading digital currency is a “gift from God to help humanity”.

The cryptocurrency advocate went on to elaborate his predictions for the alt-coin market. For him, those currently at the top would likely remain whilst many would disappear:

“Ninety percent of trading is in the top 20 coins, and that will continue. Coins will come and go. The composition of the top 20 will change less frequently. It’s similar to the thousands of stocks that trade on the NYSE and NASDAQ. Over the years, many disappear, new ones are listed. The difference being that with crypto, things move 100 times faster.”

Keiser went on to critique bitcoin Cash. For him, the hard fork of bitcoin that occurred this August is merely an attempt to cash in on the brand name of bitcoin. The sometimes-explosive analyst referred to it as nothing more than an alt-coin and tantamount to plagiarism:

“bitcoin cash is an alt-coin that has its fans just like many alt-coins. I don’t think anyone who uses bitcoin’s name and applies it to an alt-coin like bitcoin cash does is adhering to acceptable business practices. In other words, bitcoin’s brand is being stolen by a competitor that calls itself bitcoin cash and this is outright fraud in my opinion, just like it’s fraudulent to use Coca-Cola and Nike’s name to sell soft drinks or shoes.”

When asked if bitcoin was hyper-inflated, he flipped the question on its head. Clearly, the interviewer meant was the price hyper-inflated, however, Keiser of course used the opportunity to rail against the dollar and the rate of inflation in the US. He spoke of the finite supply of bitcoin and how the number of Bitcoins minted is ever-decreasing. Of course, being a crytocurrency proponent, he measures wealth using a scale comprising of a certain flashy, wing-doored super-car:

“I can buy ten times more Lamborghinis this year than I could last year with the same amount of bitcoin. The US dollar is an inflating asset. There are trillions more of them every year. The amount I need to buy a Lamborghini keeps going up, not down. It’s garbage.”

He concluded by comparing those who don’t believe in bitcoin today with Michael Dell in the 1990s. The computer manufacturer called Apple an embarrassment and recommended that they shut down. Two decades later, Apple are one of the most valuable companies in the world and as Keiser reminds us: “nobody talks about Michael Dell anymore.”

Image: PixaBay

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