Crypto Rupee Index (CRE8)
The CRE8 Crypto Rupee Index is a broad based benchmark to measure the performance of the Indian onshore crypto market, In INR. The Index components cover over 85% of market capitalization of India-listed crypto assets
Base Value: ₹1,000
Start date: 1 October 2022
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Methodology
These are the principles on which the CRE8 Index operates.
Selection of Index Constituents
Assets on which the CRE8 is calculated must meet the following criteria:
They must be among the top 8 crypto assets by market capitalization and listed on the CoinSwitch platform.
Constituents should neither be a stable coin nor a derivative of any existing index component.
The Construction of the Index
The CRE8 index is calculated on the weighted, market capitalization (square root) methodology.
The index is indicative of the total market value of all the crypto assets relative to a certain base period (1 October, 2020) and base value (₹1,000).
The Index Value is the sum of crypto asset values of all the crypto assets in the CRE8 Index.
Index Calculation
The Crypto Rupee Index - CRE8, is computed using the square root of market capitalization method wherein the level of the Index reflects the total market value of all the cryptos/VDA's in the Index relative to the base period October 1, 2020.
Where:
- Current Market Value = Price of a crypto today (within a specified time period on CoinSwitch).
- Base Market Value = Price of acrypto on the rebalance day.
- Base Index Value = Percentage share of a Crypto (in the latest rebalance multiplied by the closing price of the Index on the last day of rebalance month).
- Market Capitalization = Circulating supply * Price.
Maintenance
The index is rebalanced on a monthly basis and reconstituted on a quarterly basis.
FAQs
What is the CRE8 Crypto Index?
- The CRE8 Crypto Index reflects the dynamic nature of Virtual Digital Assets (Crypto), web 3.0 & the innovation being unleashed by Crypto.
- This Indian Rupee denominated Crypto index is well diversified, thus reflecting Indian market conditions. The CRE8 Crypto Index can be referenced for a variety of purposes such as benchmarking Crypto portfolios, and much more!
How are the constituents of the CRE8 Crypto Index chosen?
- They must be among the top 8 crypto assets by market capitalization and listed on the CoinSwitch platform.
- Constituents should neither be a stable coin nor a derivative of any existing index component.
How does the CRE8 Crypto Index work?
Individual Crypto Value = (Current Market Value / Base Market Value ) * Base Index Value
Index Value = Sum of all Individual Crypto Values
Where:
Current Market Value = Price of a crypto today (within a specified time period on CoinSwitch).
Base Market Value = Price of acrypto on the rebalance day.
Base Index Value = Percentage share of a Crypto (in the latest rebalance multiplied by the closing price of the Index on the last day of rebalance month).
Market Capitalization = Circulating supply * Price.
Why is CRE8 important?
The CRE8 Crypto Index is built to help investors benchmark their portfolios and understand the movement of the Indian Crypto market.
Here are a few more ways a Crypto index helps investors:
- Making Better Investments: An index brings transparency to a rapidly growing asset class like Crypto so that investors can be better informed before making any decisions on asset allocation, benchmarking and more.
- Anchoring: Since Crypto is influenced by unique factors like adoption, innovation and others, a single crypto’s performance cannot represent the entire asset class.
- As Dependable Benchmark: With the Indian Crypto investor base increasing significantly, a Crypto index can act as a reliable source to assess performance.
- A Uniquely Indian Indicator: A domestic, INR-denominated index can reduce dependence on international indexes that do not reflect Indian onshore prices
What is rebalancing and reconstitution?
The index is rebalanced monthly and reconstituted quarterly.
- Rebalancing is the reorganization of the weights of the index depending on the changes in market capitalisation of the Crypto assets. The CRE8 Crypto Index is rebalanced on a monthly basis to address the change in market conditions.
- Reconstitution happens every quarter when the constituent Crypto in an index are updated based on the market capitalization.
So when do weights in an index change?
As and when the market capitalization of a particular Crypto changes, the weights of the index need to be adjusted accordingly.
How is the opening price calculated?
The opening prices on the CRE8 Crypto Index are Real Time Index levels at 12:00 AM IST.
How is the closing price calculated?
The closing prices on the CRE8 Crypto Index are Real Time Index levels at 11:59 PM IST.
What is the 4 PM Daily Fix?
Although Crypto markets operate 24/7, the CRE8 Crypto Index has a 4 PM Daily Fix. It means that we use the closing value at 4:00 PM IST for publishing purposes.
How is the 4 PM Daily Fix calculated?
The CRE8 4 PM Daily Fix are Real Time Index levels at 4:00 PM IST.
What do ups and downs of the index mean?
When an index moves upwards or downwards, it is indicative of the expectations of the market. When the mood is optimistic, i.e. investors expect that the Crypto will perform better and make a transaction, the index goes up. The index will fall, in the event that the view about the future turns pessimistic and transactions decline.
Can I invest in the CRE8 Crypto Index?
CRE8 Crypto Index is to be used for informational purposes to understand the movement of the Indian Crypto Market.
Can I trade in the CRE8 Crypto Index?
No. We’ve built CRE8 to help you make more informed decisions about your Crypto investments.
Where can I access the CRE8 Crypto Index?
You can view the CRE8 Crypto Index at www.coinswitch.co/crypto-index and it will soon be available on the CoinSwitch app as well!
Disclaimer: The price information provided as part of the indices displayed here is for general educational purposes only and is not investment or other advice. Such information is not a recommendation to buy, sell or use any particular digital asset. You cannot purchase, sell or otherwise transfer any index unit. The indices displayed herein on this platform are purely informational and do not involve any transactional element. While Coinswitch makes every effort to ensure the accuracy of such information (which is based on the price of digital assets traded on Coinswitch), Coinswitch makes no representations as to the accuracy, completeness, or suitability of such information and will not be liable for any errors or omissions therein. Digital asset investments are subject to market risks such as volatility and have no guaranteed returns. Crypto products and Non-Fungible Tokens (NFTs) are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Please do your own research before investing and seek legal and financial advice regarding your transactions. You agree to view and use the index price information only in accordance with the terms and conditions of Coinswitch , available at https://coinswitch.co/terms-of-use.