CoinSwitch Kuber launched CRE8 India’s first index for tracking performance of Indian crypto market
According to CoinSwitch co-founder and CEO Ashish Singhal CRE8 index will create transparency in the crypto market and help users with a simple, easy-to-understand measure of the Indian market. The index will provide trustworthy, real-time information on the Indian rupee-based crypto market which is again based on actual trades. This will lead Indian users to make informed investment decisions. CoinSwitch calculates the index based on real trades on its app, which 18 million users trust. In a day it gets refreshed over 1,400 times to make sure that it reflects the real-time movement of the market. CRE8 is INR denominated considering the currency conversion rates. CoinSwitch owns and administers CRE8, which manage the performance of eight crypto assets that represent over 85 percent of the total market capitalization of cryptos traded in Indian Rupee.
Ashish Singhal said on Twitter that investors in India have traditionally relied on international indices based on the U.S. dollar. These indices do not show the true picture of the Indian market and do not reflect the supply-demand dynamics of the growing investor base in India. Read More….