Crypto Index IC15 launched in India to track the performance of cryptocurrencies


The crypto index IC15 has been launched in India to track the performance of 15 most traded cryptocurrencies in the world. It is introduced by the cryptocurrency app CryptoWire. Its aim is to raise awareness of cryptocurrencies and the blockchain ecosystem and to provide more information to investors. Despite the apprehension of stricter laws regarding cryptocurrencies, the number of people trading in this segment in the country is increasing.

CryptoWire, the special business unit of TickerPlant, which provides crypto-related data, said that the Governance Committee of the IC15 index will include experts from this segment. The index will be rebalanced every quarter. Jigish Sonagara, Managing Director and CEO, CryptoWire, said, “We aim to develop the market and reduce risk by offering tools that evaluate prospects.”

To be included in the index, a cryptocurrency would need to be trading on at least 90 percent of the trading days during the review period. Also it should be in the top 50 cryptocurrencies by market capitalization in the last month from review. Earlier this year in IC15, Bitcoin, Ethereum, Binance Coin and Solana were the top four cryptocurrencies. This index can help crypto investors in the country to make informed decisions.

According to studies by research firms like Watcher Guru and BrokerChoose, India has the largest number of crypto investors worldwide. Their number is about 10 crores. There is no law yet in the country regarding the crypto segment. The central government had planned to introduce the crypto bill during the winter session of Parliament but it has been postponed. This bill has been sent to the cabinet for approval. The bill calls for a ban on all private cryptocurrencies in the country. Along with this, it has been said that the Reserve Bank of India is working on bringing a centralized digital currency. Some organizations like Swadeshi Jagran Manch affiliated to RSS have also demanded a ban on cryptocurrencies in the country. These organizations say that cryptocurrencies can increase cases of money laundering and fraud.

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