• CoinMarketCap says its headline indices are calculated and administered by leading index provider, Solactive
• The two crypto indices will be live on NASDAQ GIDS, Bloomberg, Thomson Reuters, and Borse Stuttgart
• CoinMarketCap says the indices will help users track the general performance of the crypto markets and more

CoinMarketCap, a top site for information on cryptocurrency market capitalization, rankings, charts and more, has launched two comprehensive cryptocurrency benchmark indices on NASDAQ GIDS,  Bloomberg Terminal,  Thomson Reuters Eikon (Rifinitiv),  and Borse Stuttgart, according to an announcement today.   

CoinMarketCap Cryptocurrency indices launched

CoinMarketCap has announced the launch of its cryptocurrency indices on top index platforms including the Nasdaq (GIDS), Bloomberg Terminals, Thomson Reuters Eikon and Borse Stuttgart.

Per the team, its two cryptocurrency indices are crafted to deliver comprehensive and accurate information, and they cover the top 200 cryptocurrencies by market capitalization, “one including Bitcoin and one without.”

CoinMarketCap claims that its crypto indices will make it easier for users to track the general performance of the complex crypto market, including 200 cryptocurrencies weighted by market cap, the headline index CMC Crypto 200 Index (CMC200), which primarily covers more than 90 percent of the global crypto markets, including Bitcoin.

The CMC Crypto 200 ex BTC Index (CMC200EX) tracks the performance of the crypto markets, excluding king Bitcoin, which holds approximately 50 percent of the total market cap at press time.

Making life easier for crypto enthusiasts

Commenting on the development, CEO of CoinMarketCap, Brandon Chez, expressed his excitement over the launch of the indices, adding that they will provide users with highly accurate crypto data in an easy-to-understand format. In his words:

“These indices will promote greater accessibility to cryptocurrency data in an easier-to-digest format. In collaboration with Solactive, our chosen index administrator, we hope these professionally-calculated indices will serve to expand the reach of cryptocurrencies into the larger financial markets.”

Though CoinMarketCap has been criticized in the past for being unreliable and exaggerating some of the data it displays, it’s worth noting that the platform is contributing its bit towards mainstream adoption of bitcoin and other digital assets.

Chez claims that CoinMarketCap pioneered the use of some of the terms employed in the cryptospace today, as far back as 2013, including “market capitalization,” “circulating supply,” and “Bitcoin dominance.”

Reportedly, Solactive AG, a Germany-based global index provider will be in charge of calculating and administering the CoinMarketCap indices, adhering to strict standards and methodology such as rebalancing the index quarterly.

The Indices will be balanced on the last day of each calendar quarter, and the index constituent weights are reportedly “fixed on the selection date, which is five days before the rebalancing date.”