Nasdaq, one of the biggest stock platforms in the world has just listed this week an AI-powered CIX100 index designed by the crypto data provider Cryptoindex.
After this news was announced in a press this week on the 15th, it was made known that this tool is designed to exclude coins and tokens with fake volumes and rankings which targets both newcomers to the space as well as long-time investors who know the game all too well.
For those that don’t know, CIX100 is a crypto market milestone that works thanks to a neural network algorithm to analyse data for the top one hundred cryptocurrencies, taking into account more than 200 factors.
The press release in question though says that the data derived from the nine biggest cryptocurrency platforms on a global scale and factors in the results of millions of trades alongside news releases and social media data.
Only coins that have continuously made it into the top 200 for at least three months one after another get to make it onto the index which is changed and shifted around on a monthly basis.
As reported by CoinTelegraph earlier this week:
“Cryptoindex CIX100 — which is already listed on Reuters, Bloomberg, and TradingView — has reportedly gained +1100% since its establishment in May 2017. Its AI-based predictions reportedly perform with 82% daily accuracy.”
Earlier in the year, CryptoCompare and Nasdaq teamed up in a new partnership in order to release a cryptocurrency pricing produce aimed at institutional investors which are based on CryptoCompare’s aggregate index datasets.
Even before this in February, the stock exchange began to list two crypto price indices from the United States blockchain and crypto market data firm Brave New Coin.
It will be interesting to see how this plays out. For more news on this and other crypto updates, keep it with CryptoDaily!