Cryptocurrency News

One more Cryptocurrency-related Index Onboard for NASDAQ

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NASDAQ, the largest of stock exchanges, has recently introduced an add-on in their financial operations. The addon is a new index to aid financial projects that are decentralized to offer data on the markets of the blockchain firms.

The index is listed with the ticker ‘Defix’ and has been created by a brokerage company based out of London, EXANTE. In 2012, the broke incarnated expanding its operations to the cryptocurrency field by releasing the first fund on Bitcoin. Till today, the Fund’s returns on investment would have exceeded by 70,000%.

EXANTE stated in a report that, Defix demonstrates the intensity of one of the most reassuring projects on blockchain in the finance industry. Right now, it constitutes altcoins of 6 big projects, namely, Augur, Gnosis, Amoveo, Numerai, MakerDAO & 0x.

TradingVoew and Google finance can help in tracking Defix. It’ll also be enlisted with Yahoo finance soon. Exante is also planning to roll out a Defix index-based fund in late autumn.

Also, another noticeable fact is that the US-based stock firm has released numerous cryptocurrency linked indices, for instance, Bitcoin dedicated indices, Ether & XRP, along with a wider reference index for crypto given by CryptoCompare.

The index will be shown on Nasdaq under the ticker symbol of DEFX.

Exante is the leader in operating the earliest funds for cryptocurrency known as the fund for  Bitcoin. The firm came into execution in 2012 while the virtual currency was valued only for a few shillings. The firm had even launched a crypto fund with a sea of cryptocurrencies consisting of Ethereum, Litecoin, & Monero.

Although, this might not be the first instance of a crypto-based fund on Nasdaq. In the month of June this year, the firm partnered with CryptoCompare, which is a digital resource data provider, in order to release a pricing product on cryptocurrency to let institutional investors assess taking-form the class of digital asset & identify investment opportunities.

While this happens, the firm is also offering its surveillance services to a number of digital asset companies to analyze trading activities in real-time and update the stakeholders and the users if it finds an abrupt trading activity.

The total indices on NASDAQ cater to top two hundred cryptocurrencies & are able to work as a general reference for the market performance. To enable better comprehension of the data, one does not include Bitcoin while the other does. Using these indices one can keep a check on the market accounting performance of Bitcoin’s influence.

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