From mid-march the market of the cryptocurrencies in general, is experiencing a “summer finance”, being the Bitcoin the criptomoneda king with a domain of 60%. If we add to this the strong rise of the ETH and the XRP, gives as a result a strong increase in the index Crypto 10.
The Crypto 10 was created by the German company BITA, with the aim to monitor the general condition of the market of cryptocurrencies.
10 cryptocurrencies that make up the index are well-known and extensive experience in the ecosystem. Currently chosen are: ETH, BTC, XRP, BCH, BSV, LTC, BNB, EOS, XTZ and XLM.
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Crypto 10, the index to follow
The index Crypto 10 is becoming a bit of a reference in the market of cryptocurrencies, because at a glance you can follow the general trend of the market.
Another advantage of this index is that you can invest so much in favor or in against of the cryptocurrencies. Sure you may be wondering: why invest in against of cryptocurrencies? There are a variety of reasons, being the 2 most common cover the portfolio without having to liquidate my holdings, and the other to take advantage of a movement of speculative short-term.
At the time of publication the Crypto 10 has a value 3,880 points, by pressing the area of annual maxima. The high resistance to break will be the 4000 points.
Evolution of the index Crypto 10 in 2020. Source: Bita
If we take only the last 2 months, the increase of the Crypto 10 is 56%, while the annual yield is located in the 100%. This makes it clear that as the sector of the cryptocurrencies is serving as a refuge for investors in the midst of the pandemic of the Coronavirus.
To expect a greater increase in the Crypto 10 will depend upon the big 3 (ETH, BTC and XRP) continue to rise in value. 3 cryptocurrencies have an incidence of slightly over 68%. Hence its importance in maintain the upward trend, to boost the value of the index.
In the table below you can see the full list of cryptocurrencies form the Crypto 10, together with the occurrence of each Token.
Tokens that make up the index Crypto 10. Source: Bita
Data to be taken into account
The crypto of more weight in the index is not Bitcoin, but Ethereum with a 29.33%.The volatility index for the Crypto 10 is located in the 81,56%.The index was launched on June 15, 2018.The index is what you can negotiate from Monday to Sunday through contracts for difference (CFD).