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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.