Shanghai, CHINA – Chinese cryptocurrency mining hardware manufacturer Bitmain has just released its own cryptocurrency index which follows and records the assets from investors from both institutional and retail entities. The firm will provide market data for 17 of the largest digital assets by market capitalisation.
Bitmain explained that the
“The Index is solely owned by Bitmaintech Pte. Ltd. and is administered by Bitmain Index Operating Committee (‘BIOC’) which will conduct regular review and engagement with external stakeholders for feedbacks to keep the Index methodology as updated and representative as possible.”
The Index acts as a concept for Bitmain to explore other aspects in the industry at a time when it is going through a critical time in the company’s life. The Index further considers newly split hard forks a little differently to other newly launched tokens, and will grant the forks with a ten-day grace period, stating:
“For the purpose of Index calculation and dissemination, a hard forked new token will be measured against a set of criteria on its 10th day post-fork to determine whether it is a ‘significant’ one.”
To be listed, coins are also expected to be trading on “at least 2 constituent exchanges” with “at least 200 daily trades in the new token vs. USD or equivalent pairs on all constituent exchanges.”