CoinSwitch launches first crypto index CRE8

CoinSwitch has launched the Crypto Rupee Index, claiming it as India’s first benchmark index to measure the performance of the Indian Rupee-based crypto market.

The index gives a real-time insight into the crypto market based on actual transactions on CoinSwitch and is refreshed over 1,400 times a day to ensure the reflection of real-time market movement.

CRE8 tracks the performance of eight crypto assets that represent over 85 percent of the total market capitalization of cryptos traded in the Indian Rupee.

Besides Bitcoin (BTC) and Ethereum (ETH), the other assets that the index will track are: Binance Coin (BNB), Ripple (XRP), Cardano (ADA), Solana (SOL), Polkadot (DOT) and Dogecoin (DOGE). It does not include stablecoins and derivatives of other index components.

CoinSwitch tweeted: “Presenting CRE8 - India's FIRST rupee-based crypto Index.” The tweet accompanied a video in which Ashish Singhal, Co-Founder and Chief Executive Officer of CoinSwitch, explained why this index is a big deal for crypto investors in India.

He added, “The crypto investment is as simple as ordering food online or booking a cab. But the decision-making process is still broken. How do you know where the crypto market is moving? How do you know whether you are making the right investments or not? And that's where CRE8 comes into play.”