Catenaa, Wednesday, November 13, 2024-Coinbase yesterday unveiled the Coinbase 50 Index (Coin50), a new market index that offers a broader perspective on the crypto industry, similar to the S&P 500’s role in traditional equity markets.
Coin50 aims to provide investors and analysts with a more inclusive benchmark that captures the performance of the top 50 crypto assets by market capitalization.
Coinbase said the need for a more comprehensive measure than Bitcoin, which traditionally serves as the industry benchmark.
Coinbase noted that Bitcoin’s dominance might decrease over time, making a diversified index essential for understanding crypto’s trajectory.
The Coin50 index will be recalculated quarterly to reflect changing market trends and includes a selection of assets weighted by market cap.
At launch, the index includes Bitcoin at 50%, Ethereum at 28%, and a variety of other assets like Solana, XRP, and Dogecoin, accounting for the remaining 22%.
Although Coin50 is available to users globally, its perpetual futures trading feature is restricted to eligible investors outside the US
Coinbase said that it was trying establish a benchmark that reflects the broader crypto market.
Coinbase said it intends this index not only as an investment product but as a tool to guide market insights, allowing users to track broader trends in real-time through the Coinbase website and app.
