How Coinswitch Kuber's 'Crypto Rupee Index' will help you make investment decisions
Indian investors will no longer need to rely on international indices to understand the performance of the cryptocurrency market. To help Indian users in making investment decisions in the crypto market, the CoinSwitch Kuber has launched the Crypto Rupee Index (CRE8) which shows a real-time understanding of the Indian Rupee-based crypto market. The index is representing 85% of the crypto market capitalisation.
Ashish Singhal co-founder of CoinSwitch Kuber, a cryptocurrency exchange platform, on Thursday, said, "How’s the Indian Crypto market doing? Every time I’m asked this question, I’m reminded of a missing piece: There is no accurate measure of the Indian."
Singhal pointed out that until now, investors in India had to rely on international indices based on US Dollar. But these indices do not give the true picture of the Indian market and miss the supply-demand dynamics of India’s growing investor base.
Thereby, he said, "we are fixing this" and launched the CRE8, the Crypto Rupee Index. He added that CRE8 gives you real-time info of the Indian Rupee-based Crypto market, based on actual trades on our platform. It represents 85% of the Crypto market capitalization.
"CRE8 is a demonstration of our commitment to bring more transparency to the Indian Crypto market and equip users with a simple, easy-to-understand measure of the Indian market. The Index enables Indian users to make informed investment decisions." Singhal said.
That said, the co-founder exclaimed that Indian investors and market observers no longer have to second-guess how the Indian Crypto market is behaving. They can view it in real-time.
How’s the Indian Crypto market doing? Every time I’m asked this question, I’m reminded of a missing piece: There is no
Read more on livemint.com
