Learn about the current market dynamics. Download the exclusive Q3 2017 Cryptocurrency Report
Crix logo standard

Cryptocurrency Index (CRIX)

CRyptocurrency IndeX (CRIX) is a benchmark for the crypto-currency market.

A collaboration project from Humboldt University Berlin Germany, SKBI at Singapore Management University, and CoinGecko.

Humboldt university Thumbnail
More Info: CRIX Website | Methodology
# Coin Price ($) Market Cap (000 $) Volume (000 $)
1 BTC 8011.15 133,701,044 1,572,771
2 ETH 353.44 33,870,266 892,315
3 BCH 1171.02 19,686,452 1,150,448
4 XRP 0.23 8,911,576 193,756
5 LTC 71.45 3,851,422 191,868
6 DASH 440.3 3,389,728 66,519
7 NEO 39.47 2,565,627 238,664
8 IOT 0.87 2,412,554 61,588
9 XMR 129.11 1,984,922 37,829
10 XEM 0.20 1,811,820 5,778
11 ETC 17.96 1,752,828 110,700
12 LSK 9.62 1,107,536 37,989
13 QTUM 13.99 1,030,979 61,002
14 EOS 1.87 911,473 51,853
15 OMG 7.88 803,773 27,602
16 ZEC 298.47 793,015 52,930
17 USDT 1.00 675,399 485,250
18 XLM 0.04 643,964 17,801
19 BCC 291.46 623,168 16,594
20 WAVES 5.11 511,146 20,617
21 BTM 0.46 455,083 14
22 PPT 9.41 388,221 1,110
23 STRAT 3.44 339,060 8,702
24 ARK 3.19 312,154 5,648
25 ARDR 0.24 240,643 1,214
26 BCN < 0.01 238,642 3,277
27 KMD 2.35 237,531 2,950
28 BTS 0.09 231,936 2,220
29 VERI 110.9 224,696 518
30 STEEM 0.91 224,265 877
31 REP 20.22 222,421 1,164
32 DCR 35.01 216,828 1,282
33 GAS 23.96 206,027 4,269
34 GNT 0.22 182,981 2,406
35 MAID 0.39 176,041 1,814
36 PAY 1.67 175,158 2,378
37 VTC 4.17 172,662 6,464
38 MONA 3.03 167,827 641
39 PIVX 3.03 166,567 699
40 FCT 18.74 163,840 3,117
41 BAT 0.16 161,175 1,412
42 GBYTE 247.61 159,761 845
43 BNB 1.60 158,551 4,583
44 DOGE < 0.01 153,182 1,042
45 KNC 1.10 147,351 1,292
46 DGD 70.41 140,825 283
47 BTCD 108.32 139,605 215
48 SC < 0.01 132,479 2,680
49 GAME 1.94 125,089 1,103
50 ICN 1.12 111,349 1,072
51 BLOCK 22.59 110,532 162
52 SYS 0.21 110,057 1,560
53 BQX 1.38 100,101 1,566
54 SNT 0.03 99,385 1,644
55 CVC 0.29 99,274 2,038
56 LKK 0.36 94,378 308
57 XVG 0.01 88,149 3,041
58 DGB 0.01 85,801 2,459
59 BNT 2.09 85,276 871
60 MTL 4.22 81,394 4,286
61 XZC 23.37 81,120 1,344
62 SNGLS 0.13 79,430 1,712
63 NXT 0.08 76,408 2,569
64 GNO 68.19 75,325 493
65 FUN 0.02 68,312 1,214
66 PART 8.63 67,133 100
67 ADX 1.01 58,078 2,572
68 NXS 1.03 55,247 162
69 MCO 5.52 54,181 2,707
70 NAV 0.84 52,169 1,085
71 IOC 2.81 45,963 207
72 RLC 0.56 44,449 267
73 GRS 0.56 38,849 9,152
74 SMART 0.06 19,427 93
75 MCAP 0.42 15,957 1,250

What is CRIX?

The CRyptocurrency IndeX (CRIX) is a benchmark for the crypto-currency market.

With the growing amount of crypto-currencies and the diminishing domination of Bitcoin in the market, an index became necessary to track its development on the exchanges like the S&P500 does the same for the US stock market.

Commonly, a fixed amount of index constituents is chosen to represent the market. The chosen assets are allowed to change, based on transparent rules, but it happens in the big markets seldom.

But the market of crypto-currencies is different from fiat asset markets on many levels. One important difference is the frequently changing market structure. Due to the frequent changes a fixed number of constituents is a difficult choice.

For this reason, a team of researchers from Humboldt University at Berlin developed a methodology to amend the number of constituents in case the current market situation requires more crypto-currencies for an adequate representation of the market development.

The CRIX is realtime computed by the Ladislaus von Bortkiewicz Chair of Statistics at Humboldt University at Berlin, Germany. The development was a joint work together with SKBI at Singapore Management University and CoinGecko, who provide the data for the computation.

Methodology

  1. CRIX Formula: CRIX is a market capitalization weighted index. This means the weight of a cryptocurrency in CRIX depends on its market capitalization compared to the other cryptocurrencies in CRIX.
  2. Reallocation of the number of constituents: Every 3 month the development of the cryptocurrency market in the last 3 month is evaluated. It is checked how many of the top cryptocurrencies need to be part of CRIX to ensure a close fit to the market development. Due to the very volatile behavior of the cryptocurrency market and the frequent market structure changes, this approach showed to be effective. In case of a necessary change, the number of constituents is amended. A related approach is used for the well known CRSP indices for the US stock market.
  3. Ranking for constituents in CRIX: At the end of every month, the selected constituents are reallocated. The cryptocurrencies with the highest market capitalization are chosen and their weight in CRIX correspond to the share of the total market capitalization of all cryptocurrencies in CRIX.
  4. The number of constituents in CRIX is always a number evenly dividable by 5. Therefore, CRIX can contain 5, 10, 15, … constituents. The higher the number, the more cryptocurrencies are necessary for an adequate market representation.
  5. CRIX is constructed such that only price changes of a cryptocurrency cause a change of the index development. CRIX neither reacts to an increase in the number of available coins nor to the inclusion of a new cryptocurrency into the index.
  6. Reallocation: The reallocation period of the CRIX is 1 month to ensure that the index is always up to date. This period is taken rather short such that the CRIX can react faster to changes in the crypto market.
  7. Special events:
    a. If the price of a cryptocurrency is not available from the exchanges due to any reason, CRIX is made insensitive to this event such that the development of CRIX is not affected by this situation.
    b. If a cryptocurrency vanishes from the market while being part of CRIX, CRIX is made insensitive to this cryptocurrency until the next reallocation date. Then the corresponding cryptocurrency will be kicked out of CRIX.
  8. For more details about the CRIX methodology and research papers conducted on CRIX, please see the paper and the website.