Introduction
The IX Cryptocurrency Index (IXCI), Hong Kong's pioneering crypto benchmark, underwent its Q3 2020 review by IX Asia Indexes. This update reflects dynamic shifts in the crypto market, including component adjustments and performance metrics.
Key Highlights from the Q3 Review
Component Changes
- New Additions: Cardano (ADA) and EOS joined the index.
- Removal: Binance Coin (BNB) was excluded due to updated conflict-of-interest rules*.
- Total Components: Increased from 7 to 8 cryptocurrencies.
*Conflict-of-interest rules ensure index neutrality by excluding tokens managed by entities like exchanges or funds with potential biases.
Market Performance (Q3 2020)
- Total Market Cap: Rose 31% (from $263B to $344B).
- Daily Trading Volume: Surged 72% (from $57B to $98B).
- Bitcoin Dominance: Price increased 18%, maintaining its largest weight in the index.
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Index Metrics
| Metric | Value |
|----------------------------|--------------|
| Market Cap Coverage | 80.31% |
| 90-Day Avg. Volume Coverage| 46.43% |
| Base Value (USD) | 1,000 |
FAQs
1. What is the IX Cryptocurrency Index?
IXCI tracks the top 80% of cryptos by market cap and top 25 by 90-day trading volume, updated quarterly.
2. Why was Binance Coin removed?
To adhere to conflict-of-interest guidelines, ensuring unbiased index composition.
3. How often is IXCI updated?
- Daily: Published at 12:00 HKT.
- Hourly: Updated from 9:00 AM to 9:00 PM HKT.
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Appendix: Index Methodology
Composition Rules
- Scope: Global cryptocurrencies meeting liquidity and market cap thresholds.
- Rebalancing: Quarterly, with rapid-inclusion provisions.
- Weighting: Capped 40% market-cap weighting.
For details, visit: IX FinTech.
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