Digital Currency Index, LLC (Akron, OH) has release the The Digital Currency Index (DCI) a price-weighted average of 30 digital currencies traded on Major Exchanges. The DCI will serve as an overall benchmark for the Digital Currency Industry.
A key purpose of the DCI is the diversification of a very volatile crypto-currency market. This allows for an investment in the entire cryptocurrency space, without the risk of betting on a single coin, and without the hassle of holding coins from different exchanges or in different wallets.
“Our process is to simulate millions of possible future single-year market prices, based on the historic volatility and correlation of returns using the last 1 year of data.” – Roger Bryan Founder of Digital Currency Index, LLC.
The initial portfolio was chosen based on the Top 30 coins by market cap in July 2017. Any coins that might replace coins currently in the index must have been available on exchanges for at least six months and must have been in the top 100 coins deemed by market cap for at least 90 consecutive days.
With an ever changing landscape in the cryptocurrency space, the DCI is great for anyone looking to
The DCI is aiming to be the index of the industry, and they are well on their way. The index is already live and has grown 125% in the past month. As new people enter the cryptocurrency space this resource will be essential in education and a large picture of the overall market.