{"id":18735,"date":"2022-06-03T07:25:13","date_gmt":"2022-06-03T07:25:13","guid":{"rendered":"http:\/\/egrowonline.com\/?p=18735"},"modified":"2022-06-03T07:25:13","modified_gmt":"2022-06-03T07:25:13","slug":"now-a-rupee-based-crypto-index-amid-a-volatile-market","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=18735","title":{"rendered":"Now, a rupee-based crypto index amid a volatile market"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>NEW DELHI: India\u2019s largest <a target=\"_blank\" href=\"https:\/\/timesofindia.indiatimes.com\/business\/cryptocurrency\/cryptocurrency-price-in-india-today-live\" class=\"\" data-ga=\"within_article-topic_link|topic_https:\/\/timesofindia.indiatimes.com\/business\/cryptocurrency\/cryptocurrency-price-in-india-today-live\" rel=\"noopener\">crypto<\/a> investing app, CoinSwitch, on Thursday launched <a target=\"_blank\" href=\"https:\/\/timesofindia.indiatimes.com\/topic\/crypto-rupee-index\" class=\"\" data-ga=\"within_article-topic_link|topic_crypto-rupee-index\" rel=\"noopener\">Crypto Rupee Index<\/a> (<a target=\"_blank\" href=\"https:\/\/timesofindia.indiatimes.com\/topic\/cre8\" class=\"\" data-ga=\"within_article-topic_link|topic_cre8\" rel=\"noopener\">CRE8<\/a>), which is the country&#8217;s first benchmark index to measure the performance of the rupee-based crypto market. <br \/>CRE8 tracks the performance of eight Crypto assets that represent over 85% of the total market capitalization of cryptos traded in Indian Rupee. The index is based on real trades on the CoinSwitch app, which the company claims has 18 million registered users. <br \/>The index constituents are Bitcoin (BTC), <a target=\"_blank\" href=\"https:\/\/timesofindia.indiatimes.com\/topic\/ethereum\" class=\"\" data-ga=\"within_article-topic_link|topic_ethereum\" rel=\"noopener\">Ethereum<\/a> (ETH), <a target=\"_blank\" href=\"https:\/\/timesofindia.indiatimes.com\/topic\/binance-coin\" class=\"\" data-ga=\"within_article-topic_link|topic_binance-coin\" rel=\"noopener\">Binance Coin<\/a> (BNB), Ripple (XRP), Cardano (ADA), Solana (SOL), Polkadot (DOT) and Dogecoin (DOGE). <br \/>The Crypto Rupee Index (CRE8) is a first in the Indian market, which has previously had to &#8220;rely on the international indices based on the US Dollar,&#8221; tweeted CEO and co-founder of CoinSwitch Kuber Ashish Singhal. &#8220;But these indices do not give the true picture of the Indian market and miss the supply-demand dynamics of India\u2019s growing investor base,&#8221; he added. <br \/>The company says CRE8 will be refreshed over 1,400 times a day to ensure reflection of real-time market movement.The index will be rebalanced monthly and reconstituted every quarter to stay up to date with the market. <br \/> Point to note: Trading volumes in India have plummeted recently due to a stiff new crypto tax and other regulatory hurdles like <a target=\"_blank\" href=\"https:\/\/timesofindia.indiatimes.com\/topic\/unified-payment-interface\" class=\"\" data-ga=\"within_article-topic_link|topic_unified-payment-interface\" rel=\"noopener\">UPI<\/a> services being disabled for <a target=\"_blank\" href=\"https:\/\/timesofindia.indiatimes.com\/topic\/crypto-investments\" class=\"\" data-ga=\"within_article-topic_link|topic_crypto-investments\" rel=\"noopener\">crypto investments<\/a>. <\/div>\n<p>!(function(f, b, e, v, n, t, s) {<br \/>\n                  window.TimesApps = window.TimesApps || {};<br \/>\n                  const { TimesApps } = window;<br \/>\n                  TimesApps.loadFBEvents = function() {<br \/>\n                    (function(f, b, e, v, n, t, s) {<br \/>\n                      if (f.fbq) return;<br \/>\n                      n = f.fbq = function() {<br \/>\n                        n.callMethod ? 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CRE8 tracks the performance of eight Crypto assets that represent over 85% of the total market capitalization of cryptos traded in Indian Rupee. The [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":18736,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[46],"tags":[62,1988,219,8694,1774],"class_list":["post-18735","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dogecoin","tag-crypto","tag-index","tag-market","tag-rupeebased","tag-volatile"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2022\/06\/photo.jpg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/18735","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=18735"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/18735\/revisions"}],"predecessor-version":[{"id":18737,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/18735\/revisions\/18737"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/18736"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=18735"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=18735"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=18735"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}