o3n [ozone] blockchain layer

Blockchain source

Menu
Menu

Third Largest Crypto Exchange Launches Crypto Market Index Tracking 10 Top-Traded Assets

Posted on May 23, 2018 by nbelov

Crypto exchange Huobi Pro has launched a new market index that tracks the ten top-traded digital assets on its platform.

Crypto exchange Huobi Pro has launched a new market index for its platform, according to a company press release today, May 23rd. Huobi is currently the third largest crypto exchange in the world by trading volume, according to Coinmarketcap data.

The ‘Huobi 10’ index tracks the exchange’s 10 top-traded digital assets against Tether (USDT) in real time, using a weighted average calculation method. The announcement further explains:

“The digital assets are classified into four categories: Coins, Platforms, Applications and Utility Asset tokens. The number of constituents selected in these four categories depends on their transaction volume of last quarter….average daily trading volume in the previous quarter is [then] used to decide the weight of the constituent in the index.”

The press release suggests that the index will in this way "reflect the overall performance of Huobi Pro market," thus making trading simpler for investors.

The new index is also configured for cases where an asset may be delisted, so that "when an unexpected delisting of the index component occurs, the sample is temporarily replaced. And the coins that are ranked first in the candidate list will be selected as the sample coins in turn."

The press release further revealed Huobi’s plans to launch index-based products by early June.

Earlier this week, the outgoing CEO of the world’s largest crypto exchange OKEx joined Huobi as Board Secretary and VP of International Business Development. Huobi, which is headquartered in Singapore, is now expanding overseas, recently launching a South Korean subsidiary, as well as revealing plans to open an office in London.

In an email sent to the company’s employees, Huobi CEO Leon Li highlighted the exchange’s rapid growth, revealing that the company’s workforce now at almost 1000, as compared with just 10 people at the time of its launch in 2013. Huobi is now the third largest exchange worldwide, currently seeing daily trade volumes of about $1.18 bln.

Source: Cointelegraph https://cointelegraph.com/

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recent Posts

  • Turkey to ban cryptocurrency payments April 16, 2021
  • Dogecoin doubles in a day as YTD gains hit 5,000% while Bitcoin price dips April 16, 2021
  • 'Naturally decentralized' island nations like Tuvalu are perfect for blockchain ledgers, says forum – CoinGeek April 16, 2021
  • Chinese mining pools’ hash power plummets amid regional blackouts April 16, 2021
  • Blockchain is hard for developers and everyday users. Is it getting any easier? April 16, 2021
  • Alaska would be first state to use blockchain-based voting system under proposed bill – Alaska Public Media News April 16, 2021
  • Brian Brooks defends fintech charter to House Financial Services Committee April 16, 2021
  • Liquity Protocol attracts $1B TVL in just 10 days April 16, 2021
  • Jim Cramer cashes out half his 'phoney money' Bitcoin to pay off mortgage April 16, 2021
  • Email server breach sees Celsians targeted by phishing attacks April 16, 2021
  • Our Man in Shanghai: Coinbase listing scorned, graphics cards seized, nostalgia coins rule April 16, 2021
  • Rothschild Investment Corp snaps up quarter of a million shares in Grayscale ETH Trust April 16, 2021
  • Alaska would be first state to use blockchain-based voting system under proposed bill – KTOO April 16, 2021
  • Shift toward full decentralization pushes Maker (MKR) price above $4K April 16, 2021
  • Dogecoin (DOGE) and Maker (MKR) soar as the altcoin market cap tops $1T April 16, 2021
  • Ask Doctor Bitcoin: This Dallas Entrepreneur and Blockchain Expert Offers Free Advice for Emerging Crypto Market » Dallas Innovates – dallasinnovates.com April 15, 2021
  • JP Morgan uses blockchain to improve global transfers – Finextra April 15, 2021
  • Coinbase Debuts, Bitcoin & Blockchain ETFs Soar – Yahoo Finance April 15, 2021
  • Coinbase Debuts, Bitcoin & Blockchain ETFs Soar – Nasdaq April 15, 2021
  • DOGE passes Uniswap and Litecoin to become 8th largest cryptocurrency by market cap April 15, 2021
  • Tether on Tron Blockchain Hits $24B, Surpassing Ethereum Amid Explosive Stablecoin Demand – Yahoo Finance April 15, 2021
  • The next big mortgage industry disruptor? Blockchain and NFTs – Inman April 15, 2021
  • Mick Jagger is using NFTs to raise money for indie music venues April 15, 2021
  • Google Cloud integrates Band Protocol for real-time crypto price data April 15, 2021
  • Zcash (ZEC), Horizen (ZEN) and Hedget (HGET) soar as altcoins lift off April 15, 2021
  • Tezos-native NFT platform H=N gains steam, launches World Art Day fundraiser April 15, 2021
  • BlockDown: DeFi institutional adoption is booming but gas fees hinder growth April 15, 2021
  • It was only a matter of time — Some NFTs now have human DNA sequences April 15, 2021
  • The Future of Blockchain and eDiscovery: What Should the Legal Industry Expect? – JD Supra April 15, 2021
  • Blockchain Brings Efficient Packaging Traceability to Food Supply Chains – Packaging Digest April 15, 2021
©2021 o3n [ozone] blockchain layer | WordPress Theme by Superbthemes.com