Bengaluru
CoinSwitch, a crypto investing app, on Thursday unveiled Crypto Rupee Index (CRE8), the country’s first benchmark index to measure the performance of the Indian Rupee-based crypto market.
CRE8 is capable of tracking the performance of eight crypto assets that represent more than 85% of the total market capitalisation of cryptos traded in Indian Rupee, according to the company.
The index would be based on real transactions conducted by 18 million registered users of CoinSwitch app and would be refreshed over 1,400 times a day to ensure reflection of real time market movement, the company said.
Ashish Singhal, co-founder and CEO, CoinSwitch said, “CRE8 is a demonstration of our commitment to bring more transparency to the crypto market and equip users with a simple, easy-to-understand measure of the Indian market.”
“The index will provide a trustworthy, real-time view of the Indian Rupee-denominated crypto market based on actual trades, enabling Indian users to make informed investment decisions,” he added.
