CryptoDaily is pleased to announce that it has recently launched the CryptoDaily 21 Leaders Cryptocurrency Index, a sponsored proprietary cryptocurrency index calculated from the values of the digital assets with the highest market capitalisations and that feature most prominently in the portfolios of digital assets owners. The CryptoDaily 21 Leaders Cryptocurrency Index is CryptoDaily’s fourth sponsored proprietary cryptocurrency index, and joins the recently-launched CryptoDaily Large-Cap Cryptocurrency Index, CryptoDaily Mid-Cap Cryptocurrency Index, and CryptoDaily Small-Cap Cryptocurrency Index.
CryptoDaily’s cryptocurrency indices have become extremely popular with our website viewers and readers in a short amount of time, reflecting the crypto market’s need for innovative composite indices that represent market dynamics. We are extremely excited about the launch of the CryptoDaily 21 Leaders Cryptocurrency Index, our latest sponsored index and one that incorporates the most liquid constituent assets in the market.
We chose 21 constituent assets because market participants naturally apprehend round numbers derived from base-10 systems, and this is one reason why the Dow Jones Industrial Average has 30 constituents and the Standard & Poor’s benchmark has 500 constituent assets. Base-12 and base-60 systems are also standards used to quantify processes in our lives. We realised that “21” would stand out with that particular number of constituent assets, and the administrator of our sponsored proprietary cryptocurrency indices, indeXcel, appropriately modeled and optimised this index.
The index is comprised of 21 constituent assets and the maximum weighting of every constituent asset does not exceed 8%. The reference values for the CryptoDaily 21 Leaders Cryptocurrency Index begin in late 2016 and are published on an end-of-day basis on CryptoDaily’s website. The CryptoDaily 21 Leaders Cryptocurrency Index is rebalanced every fifteen days to account for changes in the market capitalisations of constituent assets.
As published on CryptoDaily’s website, the CryptoDaily 21 Leaders Cryptocurrency Index has an animated chart that permits user-defined interactivity. CryptoDaily transparently details the index composition methodology for each sponsored proprietary index that it publishes.
CryptoDaily’s indices are designed to increase market transparency, simplify performance measurement, engender diversification and risk management, and facilitate decision-making. The intention is for CryptoDaily’s sponsored indices to serve as information aggregates, reference values, and eventually benchmarks for the cryptocurrency markets. We believe the CryptoDaily 21 Leaders Cryptocurrency Index will provide unique content for a long time.
Our loyal readers and viewers have already expressed overwhelming satisfaction with our sponsored proprietary cryptocurrency indices, and we appreciate the encouragement as we continue to sponsor unique index content. Our readers may have also noticed that we are now providing regular content related to our sponsored indices, and this content is designed to provide unique context about the cryptocurrency markets.
CryptoDaily continues to work closely with indeXcel to introduce additional sponsored proprietary cryptocurrency indices.