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The largest Indian cryptocurrency exchange CoinSwitch has launched an index for assessing the state of the digital asset market, created on the basis of an analysis of transactions with eight leading cryptocurrencies. The data is denominated in Indian rupees.
CRE8 (Crypto Rupee Index) is set to be India’s first benchmark index to measure the performance of the cryptocurrency market.
The CRE8 index is aimed directly at Indian investors and tracks the eight most popular crypto assets in the country: BTC, ETH, XRP, BNB, ADA, SOL, DOT and DOGE.
The index will provide users with real-time information about the current state of the cryptocurrency market based on the actual results of transactions conducted on CoinSwitch. The relevance of the data is achieved through at least 1,400 daily updates and monthly rebalancing to bring it into line with the current market situation.
“CRE8 provides a real-time view of the cryptocurrency market in terms of Indian rupees. The index is based on the results of actual transactions involving more than 18 million users, “says Ashish Singhal, co-founder and CEO of CoinSwitch.
In May, the CEO of crypto exchange CoinSwitch Ashish Singhal said that the uncertainty in the rules of regulation of cryptocurrencies in India hinders the development of the industry in the country.
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