CRE8
The Indian unicorn crypto exchange Coinswitch Kuber launched the first rupee-backed Crypto Index known as CRE8. With a whopping $1.9 Billion valuation, it is the largest crypto company that serves Indians. The company has done a great job in making crypto investing easier. 18 million Indians are currently using the platform and they are targeting to reach 50 million Indians within the next 2 years. With CR8, it wants to make the decision-making process easier for Indian investors. Every market has an index that tracks the performance and health of that market. So far we didn't have any rupee-backed index for the crypto market within the country where most people use INR as their base currency. Investors were relying on the data from global markets only. India is a big country and when enough adoption is there, the local market might behave differently from the global markets. CRE8 helps investors make thoughtful and well-researched decisions backed by credible data.
Why the name 'CRE8'? The number '8' signifies the top eight cryptos (based on market cap) Indians are investing in on Coinswitch Kuber. They dominate 85% of the market within the country. This list will be rebalanced on a monthly and quarterly basis. Users will be able to compare their portfolio's performance as per the market conditions.
CRE8 will be refreshed over 1,400 times a day (every minute of the day) to ensure data accuracy and real-time market movement. It has an opening value at 12AM and a closing value at 11:59PM. You can access the index from their mobile app or visit this link: https://coinswitch.co/crypto-index/
Data Improves Crypto Investment
As investors, the quality of the data is really important to make verified decisions. A day trader looks at these charts multiple times a day to predict where the markets will move next. Data increases transparency and provides a clear path to plan your next move. It helps you understand the crypto market in a much better way and leads to continuous development overtime. Cre8 will help Indians visualize the growth of the crypto ecosystem within India. Access to such a resource will supposedly boost crypto investment and adoption in the long term. Data-based decision-making is the key in any investment, especially crypto. With Cre8, Coinswitch Kuber has democratized that information that will help Indians make better judgment and planning.
All Indians on Hive/LeoFinance, what do you guys think? Would you use Cre8? Comment below!