Business
Country’s first Cryptocurrency launched: Get all details here
CryptoWire, the global crypto super application which is a special business unit of TickerPlant, has recently launched India’s first cryptocurrency index IC15. It will measure the performance of the 15 most widely traded cryptocurrencies listed on leading crypto exchanges of the world by market capitalisation.
How will IC15 work?
With the emergence of cryptocurrency as an asset class, the CryptoWire has come up with a rule-based broad market index by market capitalisation. The CryptoWire has formed a Index Governance Committee comprising domain experts, industry practitioners and academicians that will select cryptocurrencies from the top 400 coins in terms of market capitalisation. A cryptocurrency must have traded on at least 90 per cent of the days during the review period and be among the 100 most liquid cryptocurrencies in terms of trading value to be eligible for the index. The eligible cryptocurrency should also be in the top 50 in terms of the circulating market capitalisation. The committee will select the top 15 cryptocurrency.
Index Value is equal to the sum total of circulating market capitalization of Index Basket divided with the Index Divisor and then multiplied it with the base value of 10,000. On the base date, the divisor is calculated based on the circulating market capitalisation of all the Index constituents. The Index divisor is normalized during every rebalancing period by multiplying it with a normalisation factor.
The index will be monitored, reviewed and rebalanced during every quarter. The cut-off date for the review period shall be the fifteenth calendar day of March, June, September, and December
IC15 Crypto Index: How it Will Help
A cryptocurrency index will help to create index linked products such as crypto ETFs and funds, claimed CryptoWire. It will act as a performance benchmark for fund managers. IC15 index is a benchmark of the underlying crypto market with a diversified representation of overall market sentiments. Moreover, it will provide an easy solution for having a diversified portfolio. For investors, this uniquely positioning index will help in efficient derivatives trading in the cryptocurrency trading marketplace.
“CryptoWire is positioned to emerge as the partner of industry to spread knowledge, research and information and help participants take informed decisions. IC15 is another step towards this goal,” said Jigish Sonagara, MD and CEO, CryptoWire.
The base value of the IC15 index has been set at 10,000 and the base date is April 1, 2018. It simply means that the index has gained 615 per cent in absolute terms to 71,475.48 till 31 December 2021. Bitcoin has the highest weight on the index, with 51.57, whereas Ethereum holds 25.79 weightage on the index. Apart from Binance Coin (5.03 weightage), no other altcoin holds more than 5 weightage on the index.
IC15 Index: What is there for Crypto Enthusiasts?
An index that captures over 80 per cent of market movement is, thus, a fundamental market tracking and assessing tool to base decisions on and enhance transparency. IC15 index enables crypto enthusiasts, investors, and investment managers to monitor the performance of cryptocurrencies in the global markets. “With the launch of India’s first index of crypto IC15, we intend to complete the knowledge circle for the entire crypto and blockchain ecosystem. This will not only push the ‘learn before earn’ initiative but also serve the industry with yet another powerful intervention,” CEO added.
Business
Apple is giving a huge discount on its gadgets: Details inside
If you want to buy an iPhone and were waiting for a nice offer, then we have a piece of good news for you! Amazon Summer Sale May 2022 has begun and they are offering major discounts on various smartphones, laptops, and smart TVs, among others.
The sale is live now on the e-commerce platform with no-cost EMI options and exchange discounts on various products. In addition to this, Amazon has also partnered with several banks including ICICI, Kotak Bank, and RBL so that customers get instant discounts of up to 10% using their cards and EMI transactions.
Customers can easily enjoy this summer sale and get massive discounts on iPhones. They can also compare prices on Flipkart Big Saving Days Sale 2022 before making a purchase.
Amazon Summer Sale May 2022: Discount offer on iPhone 13
Apple’s coveted phone model iPhone 13 in the 128 GB storage model will be available during the Amazon Summer Sale May 2022 for Rs 64,900. The MRP of the phone is Rs 79,900. This means that the customers will be able to enjoy a discount of up to Rs 15,000 on the purchase of the iPhone 13.
If you have an old iPhone in working condition then you will also be eligible to receive another additional discount worth up to Rs 17,000 on the iPhone 13.
Buy at Rs. 64,900 (MRP – Rs. 79,900)
Features of Apple iPhone 13
The iPhone is powered by an A15 Bionic processor with 6 core CPU. Apart from this, it has 16 core neural engines. With the iPhone 13, up to 512 GB of storage will be available. The iPhone 13 has a 6.1-inch Retina XDR display with 1000 nits brightness.
The iPhone 13 has a 12-megapixel dual rear camera setup. This time a new wide-angle camera has been given, whose aperture is f/1.6. With this, there is support for sensor optical stabilisation. Night mode has been made better than before. The second lens is also 12 megapixels ultra-wide and has an aperture of f/2.4.