Learn Cryptocurrency
2 Jun 2022

CoinSwitch CRE8ing History: India’s First Onshore Crypto Index

Deepan Datta

It’s a Sunday morning. As you sip on a cup of hot coffee, you look at the crypto market and think, Damn, the market looks exciting. I need to buy some coins right away.

But what should you buy? Spoilt for choice, you are thoroughly confused.

Enter CRE8. A list of top crypto assets brought together to form an index that will help you with trading decisions.

But how does CRE8 work? And how it can help you create a great crypto portfolio? Stick around to find out.

What is CRE8?

CRE8 stands for Crypto Rupee Index—a list of eight of the top crypto assets by market cap. These are cryptos that have performed well in the past, are liquid, and are fundamentally strong.

It is a broad-based index to measure the performance of the Indian onshore crypto market. CRE8 covers over 85% of the crypto market. Using the square root of market cap method, CRE8 assesses the weightage of different coins so that no one coin dominates the index.

The coins listed are well distributed, and the great thing about this index is that it tracks the value of cryptos in INR.

This index is owned and administered by CoinSwitch, India’s largest crypto trading platform.

You can check the index by visiting coinswitch.co/crypto-index.

What Makes CRE8 Special?

CRE8 is the first crypto index to measure the performance of the Indian onshore crypto market.

It tracks the performance of crypto assets in INR value using the CoinSwitch platform and is based on real-time trades there. In short, it uses the strength of the CoinSwitch platform for data and distribution.

How Does CRE8 Help Analyze the Crypto Market?

Passive investing is on the rise, due to benefits like- lower cost of investment and greater returns over the long term compared to active investing. 

CRE8 is the benchmark index of the Indian crypto market that helps you with building passive investing strategies and managing the market volatility in a better way. 

Also, referring to it can help you analyze the state of the crypto market and plan ahead. With it, you won’t need to refer to the total market cap of the crypto market to analyze the market sentiment.

CRE8 crypto index

How is CRE8 Different from Other Crypto Indices?

Well, CRE8 is designed specifically for Indian crypto investors.

At present, most crypto indices are US indexes. They, therefore, do not reflect the India onshore prices. And India’s crypto market is driven by so many factors—Indian demand/supply, global prices and INR exchange rates.

This is where CRE8 comes in to fill the gap. It is a reliable domestic crypto index for Indian investors to gauge the market in a far better way.

What is the Index Composition of CRE8?

That’s a very important question. CRE8 only includes the top eight crypto assets by market cap in its index composition. It doesn’t include stablecoins and derivatives of other index components.

CRE8 composition as of 2 June 2022.

CRE8 index composition

The index is rebalanced once on the 25th calendar day of the month and is reconstituted once a quarter.

Using CRE8 for Smart Investment Decisions

Indices play a very crucial role in the development of any market as they help evaluate the performance of top-ranking coins among thousands of crypto assets.

CRE8 is one such index. It will help you gauge market sentiment better and filter out the noise of the crypto market.

For instance, when heightened volatility of lesser-known cryptos produces a market-wide impact and instills fear and panic among investors, an index like this can be mighty helpful.

Summing Up…

Since India has the most active crypto investor base in the world, CRE8 will help millions of investors make informed decisions.

And not just with tracking the crypto market. You can also add coins included in CRE8 to your crypto portfolio in the same weightage to free up the time required to track and analyze the market.

Also remember, CRE8 does not just help to track the market better, it simplifies your investing journey.

So that’s the end of Sunday mornings being wasted on tracking the market and figuring out which coin will provide the best returns.

Frequently Asked Questions (FAQs)

What is CRE8?

CRE8 is India’s first crypto index. It tracks the performance of the Indian onshore crypto market. It consists of the top eight crypto coins by market capitalization, excluding stablecoins. The index is designed for Indian crypto investors.

Can I invest in CRE8?

No, you cannot invest in CRE8 directly. At present, you can track the performance of the Indian crypto market. Also, you can view the components highlighted in the CRE8 category on the CoinSwitch app.

How frequently will the data be refreshed?

The index levels are refreshed every minute, 24×7—on all days of the year.

What is the opening level of CRE8?

The base year for the CRE8 index is 2020, and the base value is 1,000. So the opening value of the index will depend on the performance of the market from the base year. The index data will be available from 1 October 2020.

How are the weights of different coins calculated in the index?

The weightage of different crypto assets in the index is calculated using the square root of the market capitalization of the coin.

What is the coin selection criteria?

The coins in the index will be decided based on the fulfillment of the following criteria:

  • Listed and Trading: The crypto asset must have traded for at least six months on CoinSwitch’s platform.
  • Currency: They must be available for trading in INR on the CoinSwitch platform.
  • Liquidity: The crypto asset should have a minimum daily trading value of ₹5 lakh for each day during the last 3 months.

Disclaimer : Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. The information provided in this post is not to be considered as investment/financial advice from CoinSwitch. Any action taken upon the information shall be at user's own risk.


Deepan Datta

Content Writer

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