Reuters and Bloomberg use Cryptoindex crypto and token index

Reuters and Bloomberg use Cryptoindex crypto and token index

 Cryptoindex,  announced that 500,000 traditional traders using Reuters and Bloomberg terminals will be able to access information on the 100 best-performing digital tokens and cryptocurrencies using its index. Growing social platform TradingView has added Cryptoindex too. The development of crypto indices demonstrates the industry has gone from being a peripheral concept to a fully integrated part of modern financial services.

Financial markets have well-established indices like the Dow, S&P 500, and NASDAQ, which track the performance of a large set of companies. A cryptocurrency index operates similarly. Cryptoindex analyzes over 33 Terabytes of data on 1,800 coins to organize the top 100 digital currencies into a single portfolio, creating a diversified, cost-effective, efficient tool for participating in the market's growth.

"I have witnessed firsthand the growing demand for high-quality insight into traditionally opaque, misunderstood cryptocurrency, which led me to create Cryptoindex," CEO VJ Angelo said. "Our index takes into account collective sentiments expressed on social media, in addition to complex data analysis of volume trades and predictive analytics."

More specifically, Cryptoindex uses the proprietary AI algorithm Zorax to analyze tens of millions of trades and news announcements from the nine largest cryptocurrency exchanges. It is comprised only of coins that have consistently been in the top 200 for over three consecutive months. Rebalancing occurs monthly and is designed to see through coins that have had their value artificially inflated.

"Integrating Cryptoindex demonstrates TradingView's commitment to moving fintech forward," Stan Bokov, CSO at TradingView, said. "Data is rapidly becoming a commodity, and access to it will define future success for companies."

Overall, Cryptoindex aims to improve information access and transparency, offering a methodology fully suited to the needs of heavily regulated asset managers, institutional, and professional investors. The CIX100 index has outperformed Bitcoin over the course of the last 30 days by 2 percentage points.

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