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Hello all XRP HODLers and Traders, SHUFFLUP is extremely happy to introduce world's first cryptocurrency market index - SHUFFLUP Crypto Market Sentiment Index or simply SCMSI. The traditional stock market has Dow Jones Index to monitor the market health but we noticed that our own crypto world doesn't have something like that. People generally use Bitcoin's price as market health indicator, whereas more than 50% market is dominated by altcoins. Hence we have developed a Market index which takes into account the top 100 coins(based on market capitalization) and gives index points which indicates the market health. We have used price-weighted method, the same method that is used to calculate Dow Jones Index. The divisor gets adjusted whenever a member(or constituent) i.e a coin or a token gets changed in the top 100 coins list. It means simply because a new constituent is getting added, this should not justify high value variations in the index. Hence just before the new constituent is introduced, a new “calculated” divisor value should be introduced and we just did that. The value of the index is calculated every 5 minutes and always calculated taking into account the realtime top 100 highest marketCap coins. In short, from now on you don't have to follow all the coins' price changes to judge whether the overall market is bullish or bearish, rather just follow SCMS Index. We hope this would become the benchmark for crypto market analysis in the coming years! For now just enjoy it because it's FREE! Check it out here: https://www.shufflup.org/SMSI.php- 3 replies
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- market index
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