Huobi launched its own Crypto Market Index
The ratio compares the cost of the selected assets, according to their weight at current prices, with the value of those same assets at base period prices
Huobi, the exchange platform based in Beijing, China, founded by Leon Li in September 2013 continues with its plans to expand into global markets and has decided to launch its own index called Huobi 10, composed of 10 of the largest currencies volume negotiated against the USDT available in Huobi.Pro, allowing investors to passively track the trend of the entire cryptocurrency ecosystem.
It is important to remember that a stock index is an indicator that is calculated considering the price of a group of listed shares, representative of a certain sector or market. Then, the variations in the value of an index reflect in summary form those experienced by the quotation of the set of shares that are part of the index.
The Huobi index is based on the ratio of the Paasche price index. The ratio compares the cost of the selected assets, according to their weight at current prices, with the value of those same assets at base period prices, multiplying the ratio by 100.
As of June 9 of this year, the index included HT (32.2%), BTC (22.5%), EOS (16.6%), ETH (10.4%), BCH (5%), XRP (4.1%), LTC (2.8%), IOST (2.4%), ETC (2.2%) and DASH (1.4%). Huobi.Pro plans to include financial derivatives as options within its offer, as well as the introduction of the index in financial data aggregators such as Bloomberg, Reuters or TradingView.
The inclusion of an index such as Huobi 10, which reflects the evolution of prices in the ecosystem of block chain assets at a glance, was more than welcomed by enthusiasts, amateurs, professional traders and the crypto community in general.
N. Moncada
Source: CriptoTendencia
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