Crypto Rupee Index (CRE8)

The Pulse of the Indian Crypto Market.

The CRE8 index is an Indian Rupee denominated, well-diversified Virtual Digital Asset (crypto) index reflecting Indian market conditions.

Base Value:

₹1,000

Start Date:

1 October 2020

1 Oct 2020

Value (As of 00:00 IST)

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Previous closing value (As of 23:59 IST dd mm'yy)

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% Change for the day

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Change

Value (As of 00:00 IST)

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Change 24Hr

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% Change 24Hr

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% Change 7 days

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% Change year to date

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24Hr High

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24Hr Low

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4PM Daily Fix

Please note that we use the index values from 4 PM for publishing purposes.

Value (As of 16:00 IST)

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Date

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% Change

vs previous 4pm daily fix

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Index Components

PriceWeights
























Methodology

These are the principles on which the CRE8 Index operates.

Selection of Index Constituents

Assets on which the CRE8 is calculated must meet the following criteria:

  • They must be among the top 8 crypto assets by market capitalization and listed on the CoinSwitch platform.
  • Constituents should neither be a stable coin nor a derivative of any existing index component.


The Construction of the Index
  • The CRE8 index is calculated on the weighted, market capitalization (square root) methodology.
  • The index is indicative of the total market value of all the crypto assets relative to a certain base period (1 October, 2020) and base value (₹1,000).
  • The Index Value is the sum of crypto asset values of all the crypto assets in the CRE8 Index.

Index Calculation

The Crypto Rupee Index - CRE8, is computed using the square root of market capitalization method wherein the level of the Index reflects the total market value of all the cryptos/VDA’s in the Index relative to the base period October 1, 2020.

formula
formula


Where:

  • Current Market Value = Price of a crypto today (within a specified time period on CoinSwitch).
  • Base Market Value = Price of acrypto on the rebalance day.
  • Base Index Value = Percentage share of a Crypto (in the latest rebalance multiplied by the closing price of the Index on the last day of rebalance month).
  • Market Capitalization = Circulating supply * Price.

Index Maintenance

The index is rebalanced on a monthly basis and reconstituted on a quarterly basis.

FAQ's

  • The CRE8 Crypto Index reflects the dynamic nature of Virtual Digital Assets (Crypto), web 3.0 & the innovation being unleashed by Crypto.
  • This Indian Rupee denominated Crypto index is well diversified, thus reflecting Indian market conditions. The CRE8 Crypto Index can be referenced for a variety of purposes such as benchmarking Crypto portfolios, and much more!
  • They must be among the top 8 crypto assets by market capitalization and listed on the CoinSwitch platform.
  • Constituents should neither be a stable coin nor a derivative of any existing index component.

Individual Crypto Value = (Current Market Value / Base Market Value ) * Base Index Value

Index Value = Sum of all Individual Crypto Values


Where:

Current Market Value = Price of a crypto today (within a specified time period on CoinSwitch).

Base Market Value = Price of acrypto on the rebalance day.

Base Index Value = Percentage share of a Crypto (in the latest rebalance multiplied by the closing price of the Index on the last day of rebalance month).

Market Capitalization = Circulating supply * Price.

The CRE8 Crypto Index is built to help investors benchmark their portfolios and understand the movement of the Indian Crypto market.

Here are a few more ways a Crypto index helps investors:

  • 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 and more.
  • Anchoring: Since Crypto is influenced by unique factors like adoption, innovation and others, a single crypto’s performance cannot represent the entire asset class.
  • As Dependable Benchmark: With the Indian Crypto investor base increasing significantly, a Crypto index can act as a reliable source to assess performance.
  • A Uniquely Indian Indicator: A domestic, INR-denominated index can reduce dependence on international indexes that do not reflect Indian onshore prices

The index is rebalanced monthly and reconstituted quarterly.

  • Rebalancing is the reorganization of the weights of the index depending on the changes in market capitalisation of the Crypto assets. The CRE8 Crypto Index is rebalanced on a monthly basis to address the change in market conditions.
  • Reconstitution happens every quarter when the constituent Crypto in an index are updated based on the market capitalization.

As and when the market capitalization of a particular Crypto changes, the weights of the index need to be adjusted accordingly.

The opening prices on the CRE8 Crypto Index are Real Time Index levels at 12:00 AM IST.
The closing prices on the CRE8 Crypto Index are Real Time Index levels at 11:59 PM IST.
Although Crypto markets operate 24/7, the CRE8 Crypto Index has a 4 PM Daily Fix. It means that we use the closing value at 4:00 PM IST for publishing purposes.
The CRE8 4 PM Daily Fix are Real Time Index levels at 4:00 PM IST.

When an index moves upwards or downwards, it is indicative of the expectations of the market. When the mood is optimistic, i.e. investors expect that the Crypto will perform better and make a transaction, the index goes up. The index will fall, in the event that the view about the future turns pessimistic and transactions decline.

CRE8 Crypto Index is to be used for informational purposes to understand the movement of the Indian Crypto Market.
No. We’ve built CRE8 to help you make more informed decisions about your Crypto investments.

You can view the CRE8 Crypto Index at www.coinswitch.co/crypto-index and it will soon be available on the CoinSwitch app as well!

Disclaimer: The price information provided as part of the indices displayed here is for general educational purposes only and is not investment or other advice. Such information is not a recommendation to buy, sell or use any particular digital asset. You cannot purchase, sell or otherwise transfer any index unit. The indices displayed herein on this platform are purely informational and do not involve any transactional element. While Coinswitch Kuber makes every effort to ensure the accuracy of such information (which is based on the price of digital assets traded on Coinswitch Kuber), Coinswitch Kuber makes no representations as to the accuracy, completeness, or suitability of such information and will not be liable for any errors or omissions therein. Digital asset investments are subject to market risks such as volatility and have no guaranteed returns. Crypto products and Non-Fungible Tokens (NFTs) are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Please do your own research before investing and seek legal and financial advice regarding your transactions. You agree to view and use the index price information only in accordance with the terms and conditions of Coinswitch Kuber, available at https://coinswitch.co/kuber-terms/.

Advisory Committee

Krishna Hegde

Krishna Hegde

Lead New Initiatives, CoinSwitch

Krishna has been involved in crypto since 2017. He cut his teeth in the traditional finance world where his last role (back in 2016!) was as a Managing Director at Barclays.

Sharan Nair

Sharan Nair

Chief Business Officer, CoinSwitch

Sharan is a Crypto OG. He has played a pivotal role in introducing crypto to India and has been running crypto exchanges since 2014. At CoinSwitch, Sharan was first key hire within months of launch in 2017.