Bithumb announced Wednesday the launch of Bithumb Crypto Index (BTCI) which comprises two separate indices. BTMI is calculated based on all cryptocurrencies listed on Bithumb while BTAI only takes into account “all non-bitcoin cryptocurrencies” listed on the exchange.
The former aims to provide “an overall view of the price changes in the cryptocurrency market” while the latter “a view of the price changes in the cryptocurrency market excluding bitcoin.” Bithumb began calculating BTCI on July 1. The index is calculated real-time and updated every 10 seconds.
At the time of this writing, Bithumb is South Korea’s largest crypto exchange by trading volume, according to Coinmarketcap. With 53 cryptocurrencies listed for trading against the Korean won, the exchange has a 24-hour trading volume of $726,488,270.
BTCI has been developed in consideration of market representation and liquidity to provide investors with a single indicator that can show the trends of the cryptocurrency market. It consists of Bithumb Market Index (BTMI)…and Bithumb Altcoin Market Index (BTAI).