CoinSwitch is proud to announce that our new CRE8 (Index) website went live on June 2nd, 2022 at 12:30 pm.
CRE8 is a well-diversified crypto rupee index reflecting Indian marketing conditions. To put it simply, CRE8 in the crypto market works similarly to Nifty in the stock market. It helps investors benchmark their portfolios and grab the pulse of the Indian crypto market.
As your investment buddy, the CRE8 index can also help you with:
- Making better investments: An index brings transparency to a rapidly growing asset class like crypto so that investors can be better informed before making any decisions on asset allocation, benchmarking, etc.
- Anchoring: Since crypto is influenced by unique factors such as adoption and innovation, a single crypto’s performance cannot represent the entire asset class.
- Being a dependable benchmark: With the Indian crypto investor base increasing significantly, a crypto index can act as a reliable source to assess performance.
- Serving as a uniquely Indian indicator: A domestic, INR-denominated index can reduce dependence on international indexes that do not reflect Indian onshore prices.
You can also check out our YouTube video on CRE8 https://www.youtube.com/watch?v=KF0fK4LM4BU
Here are a few FAQs to better understand the CRE8 index:
1. How are the constituents of the CRE8 Crypto Index chosen?
Just as the Nifty tracks the largest stocks listed on NSE, the CRE8 index tracks the top 8 cryptocurrencies. CRE8 selects the top 8 cryptos as its index constituents based on market capitalization. Moreover, these 8 constituents should be traded on the CoinSwitch platform for a period of 6 months.
2. How is CRE8 rebalanced and reconstituted?
CRE8 is rebalanced monthly and reconstituted quarterly to reflect the dynamic market conditions. Rebalancing is the reorganization of the weights of the index depending on the changes in market capitalization of the crypto assets. Reconstitution happens every quarter when the constituent crypto in an index is updated based on the market capitalization.
3. When do the weights in an index change?
As and when the market capitalization of a particular crypto change, the weights of the index need to be adjusted accordingly.
4. How is the opening price calculated?
The opening prices on the CRE8 Index are Real Time Index levels at 12:00 AM IST.
5. How is the closing price calculated?
The closing prices on the CRE8 Index are Real Time Index levels at 11:59 PM IST.
6. What is the 4 PM Daily Fix and how is it calculated?
We use the index value at 4:00 PM IST for publishing purposes. The CRE8 official closing prices are Real Time Index levels at 4:00 PM IST.
7. What do the ups and downs of the index mean?
When an index moves upwards or downwards, it is indicative of the expectations of the market.
8. Can I invest in the CRE8 index?
CRE8 index is to be used for informational purposes to understand the movement of the Indian Crypto Market.
9. Can I trade in the CRE8 crypto index?
No. CRE8 helps you make more informed decisions about your crypto investments.
10. Where can I access the CRE8 Crypto Index?
You can view the CRE8 Crypto Index at https://coinswitch.co/crypto-index/ and it will soon be available on the CoinSwitch app.
You can also read this detailed article on CRE8: https://coinswitch.co/blog/coinswitch-cre8/