Even a couple of years ago, the crypto index was seen as something that was firmly outside the formal financial system. However, things have changed dramatically over the course of the past two years. In a new development, it has now emerged that NASDAQ, one of the world’s biggest stock exchanges, has listed a crypto index, called CIX100.
CIX100 is going to be fully powered by artificial intelligence and is going to list the top 100 cryptocurrencies in the world by market cap.
Key Development
CIX100 is going to track the top 100 cryptocurrencies and is going to take as many as 200 different factors into consideration. The index is going to give a fairly clear idea about the crypto market at any point in time. More important, it is also going to exclude data from coins that produce fraudulent rankings as well as volumes.
Over the years, serious crypto investors have often found it difficult to get a hold of an index that could give them a clear idea of the state of the overall market. Until now, nothing of the nature had been produced.
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NASDAQ’s CIX100 is going to be one of the first crypto indices to do this. It is going to track data from as many as 200 separate crypto exchanges in the world and then come up with the relevant information. One thing that has always been pointed out by some of the most seasoned crypto traders is the fact that reliable data is not often available.
However, with the establishment of this crypto index by NASDAQ, that problem is somewhat mitigated in a big way. The predictions made by this AI-powered index are apparently 82% accurate, and it goes without saying that CIX100 is going to be a useful tool for many traders.
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