This is only on the Nasdaq's cryptocurrency index, which is seriously bearish on the market
Editor's Note: This article was compiled by Odaily Qin Xiaofeng and edited by Lu Xiaoming; the original text comes fromCointelegraph、Cryptobriefingaccording to
according toCointelegraphNews, the world's second largest stock exchange Nasdaq (Nasdaq) has launched an AI encryption index - CIX100.
CIX100 was originally designed to act as a benchmark for the encryption market, and it is mainly aimed at both industry novices and professional investors.
Austin Kimm, advisor to Cryptoindex, said: "The Cryptoindex team is honored to be listed on Nasdaq, which has been a key platform for institutional investors to monitor classic indices. Cryptoindex's approach meets the needs of highly regulated asset managers. requirements of companies, institutions and professional investors."
It is understood that CIX100 was created by encrypted data provider Cryptoindex, which mainly uses neural network algorithms to analyze the data of the top 100 cryptocurrencies by market capitalization; and comprehensively considers nearly 200 factors, and uses proprietary formulas to exclude some with false trading volume and rankings tokens.
After the first filter is completed, Cryptoindex's proprietary AI algorithm will analyze millions of transaction data from the nine largest cryptocurrency exchanges; in addition, data from news feeds, Twitter, GitHub, etc. of the relevant tokens are also considered by the algorithm within range.
This information then guides the neural network’s selection process: From an initial pool of 2,500 tokens, it pre-selects tokens that have been in the top 200 for at least three consecutive months, and then further narrows the selection down to 100 tokens. Each token has a different weight in the index, which is rebalanced every month.
Cryptoindex's AI also provides price predictions, and the official claims that its average daily accuracy rate can reach 82%.
The index is now available atcix100.comimage description
(CIX100 Index)
From the above figure, we can also find that the weight of Bitcoin in CIX100 is very high, reaching 77.76%; andCoinMarketCapThe data shows that BTC currently accounts for only 66.2% of the market value of the entire market. It can be seen that CIX100 is more respectful of BTC.
In addition, the weights of Ethereum and XRP are 7.28% and 4.19%, respectively, which are slightly lower than the market value of the two; BCH, LTC, EOS, and BNB have only 1% weight, and the weight of other tokens is less than 1%.
In addition, regarding the market forecast, the results given by CIX100 are very pessimistic and seriously bearish.
In May 2017, CIX100 launched Reuters, Bloomberg and TradingView one after another.cix100.comThe official website shows that since the index was launched, the comprehensive return rate has reached 1100%, and the return rates in the past 30 days and 90 days are -18.53% and -13.91% respectively.
Today, encryption indices are increasingly favored by mainstream society.
June this year, Nasdaq and CryptoCompare jointly launched a cryptocurrency pricing product for institutional investors - "Nasdaq/CryptoCompare Composite Encryption Reference Price", which is mainly based on the CryptoCompare composite index data set.
Additionally, Cryptocompare has partnered with derivatives exchange BitMEX to develop a real-time crypto futures dataset that will be delivered to financial market data provider Refinitiv.
March 2019, Encrypted Data Website CoinMarketCap Launch of two cryptocurrency benchmark indices on Nasdaq, Bloomberg Terminal, Thomson Reuters Eikon (Refinitiv) and Börse Stuttgart. The CMC index covers the top 200 cryptocurrencies by market capitalization: the first is called CMC Crypto 200 Index (CMC200), which includes Bitcoin; the other is called CMC Crypto 200 ex BTC Index (CMC200EX), which does not include Bitcoin Bitcoin, allowing investors the option to view markets without Bitcoin.
February 2019, Nasdaq launched two cryptocurrency price indices from Brave New Coin, an American blockchain and encryption market data company - BTC Liquidity Index (BLX) and Ethereum Liquidity Index (ELX).
This summer, Sina Finance, the financial website owned by major Chinese tech firm Sina, added a crypto index to its mobile app, but made no official announcement about it.
In addition, in July this year, Sina Finance also launched a cryptocurrency index, but it is only displayed on the mobile terminal, and the desktop terminal does not have the index. However, Sina officials have not released any announcement so far.
In fact, the cryptocurrency market already has a lot of indexes, but most of them are unknown, and eventually die quietly. There are many reasons behind this:
On the one hand, the issuers of some indexes are exchanges or non-neutral institutions, and investors do not trust their indexes very much.
On the other hand, the design mechanism of the index is also flawed. For example, in the "Huobi Main Index" (HB10) launched in 2018, the weight of HT and BTC is similar, exceeding 25%. There are also OK indexes "OK05" and "OK06". The two indexes cover fewer currencies, but both include OKB, which cannot fully reflect the market situation.
