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A new cryptocurrency market price tracking index, the GMCI 30, was launched today.
The collaboration between The Block and Wintermute announced the introduction of its GMCI 30 index, which monitors the price performance of the leading 30 crypto assets.
1/ Crypto has a new benchmark
Monitoring the performance of the entire sector has just become remarkably straightforward.
Introducing GMCI — the index provider, developing comprehensive indices for digital assets. ↓ pic.twitter.com/UaC7Omshoe
— GMCI (@gmci_) February 12, 2024
The GMCI 30 Crypto Price Index
Created to track the top 30 cryptocurrencies by market capitalization, the GMCI 30 will cap the weighting of the leading asset at 25% of the index’s overall value. Stablecoins will not be included.
Cryptocurrencies and tokens must meet several criteria to qualify for inclusion in the GMCI. Assets must be listed on centralized exchanges such as Binance, Bitfinex, Bitstamp, Bybit, Coinbase, Kraken, OKX, or Upbit. Additionally, supported custody on BitGo, Coinbase Custody, or Gemini Custody is required.
Compliance with listings on CoinMarketCap and CoinGecko, along with adherence to U.S. Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations, completes the eligibility requirements.
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“GMCI indices are designed to enhance transparency and simplicity in this rapidly evolving asset class; tracking the performance of the entire industry as well as its sub-sectors is going to become remarkably straightforward,” stated GMCI CEO Maarten Botman in the announcement.
Coin Metrics will supply the data feeds utilized for index-pricing calculations.
GMCI’s Plans
The GMCI 30 index represents the first step in the company’s strategy to offer a variety of segment and category-specific indices tailored for digital assets. Following the launch of the flagship index, additional sector indices aimed at tracking Layer 1s, Layer 2s, and DeFi protocols are expected to be introduced shortly.
Moreover, Evgeny Gaevoy, the CEO of Wintermute, and Larry Cermak, the CEO of The Block, will both be part of the board of directors for GMCI.
In an X post prior to the index’s launch, Gaevoy expressed surprise, stating, “After reviewing the top 10 companies by market cap for the first time in years, I genuinely don’t comprehend what all the excitement is about regarding crypto valuations.”
The post Global Markets Crypto Intelligence Debuts Crypto Price Index appeared first on Cryptonews.
