Crypto Index IC15 Rolled Out in India by CryptoWire, Will Track Performance of 15 Top Traded Cryptocurrencies

As of January 2022, Bitcoin, Ethereum, Binance Coin, and Solana are the top four most traded cryptocurrencies in the world, the IC15 index shows.

By Radhika Parashar | Updated: 4 January 2022 18:51 IST

Crypto Index IC15 Rolled Out in India by CryptoWire, Will Track Performance of 15 Top Traded Cryptocurrencies

Photo Credit: Unsplash/ Executium

IC15 index may help the rising number of crypto investors in India make aware decisions

Highlights

CryptoWire is launching the IC15 index in India
Aims to bring "learn before earn" concept to Indian investors
Bitcoin is the most traded crypto globally as of January 2022

Cryptocurrency app CryptoWire has rolled out IC15 index in India which will monitor the performance of 15 most traded cryptocurrencies in the world. CryptoWire is a special business unit (SBU) of crypto stats provider TickerPlant. As per a press release from the company, the launch is intended to escalate awareness and knowledge around the crypto and blockchain ecosystem and further the “learn before earn” concept among investors. The development comes at a time India is witnessing a boom in the adoption of the crypto culture, despite prevailing concerns around regulation.

The governance committee of the IC15 index comprises of domain experts, industry practitioners, as well as academicians. They will maintain, monitor, and administer the index while rebalancing it every quarter.

“Our approach is to facilitate market development and mitigate risk to a great degree by presenting all possible tools to evaluate possibilities and make decisions. We want all participants to utilise, to the fullest, this research-oriented, technology-powered opportunity for tracking the market,” Jigish Sonagara, Managing Director and CEO of CryptoWire said in a statement.

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To be eligible for this list, a cryptocurrency needs to be traded on at least 90 percent of the trading days during the review period and should be in the top 50 in terms of the circulating market capitalisation during the preceding month among other criteria.

As of January 1, 2022, Bitcoin, Ethereum, Binance Coin, and Solana are sitting on the top four positions on the IC15 index.

This index may help the rising number of crypto investors in India make aware decisions.

Several studies from research firms like Watcher Guru and BrokerChoose have revealed that India has the highest number of crypto investors in the world. The number is around 100 million.

The country is yet to announce regulatory laws around the crypto sector.

India's much awaited crypto bill that was supposed to reach the Parliamentary table during its winter session was sent to the Cabinet for approval earlier this month. There has been no official word on the bill since.

The bill calls for the ban of all private cryptocurrencies from operating in the nation while also noting that the Reserve Bank of India is working on bringing a centralised national digital currency.

Interested in cryptocurrency? We discuss all things crypto with WazirX CEO Nischal Shetty and WeekendInvesting founder Alok Jain on Orbital, the Gadgets 360 podcast. Orbital is available on Apple Podcasts, Google Podcasts, Spotify, Amazon Music and wherever you get your podcasts.

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Further reading: Cryptocurrency, IC15 Index, Crypto Index, India, IC15

Radhika Parashar

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Radhika Parashar is a senior correspondent for Gadgets 360. She has been reporting on tech and telecom for the last three years now and will be focussing on writing about all things crypto. Besides this, she is a major sitcom nerd and often replies in Chandler Bing and Michael Scott references. For tips or queries you could reach out to her at RadhikaP@ndtv.com. More