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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.

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More Info: CRIX Website | Methodology
# Coin Price ($) Market Cap (000 $) Volume (000 $)
1 BTC 11703.5 196,828,374 4,319,502
2 ETH 1053.63 102,337,202 1,834,168
3 XRP 1.38 53,509,216 2,835,820
4 BCH 1799.04 30,447,707 554,405
5 ADA 0.63 16,308,985 67,487
6 LTC 191.59 10,510,685 367,248
7 XEM 1.07 9,672,169 66,726
8 EOS 15.41 9,547,858 2,679,360
9 NEO 133.8 8,696,702 187,107
10 XLM 0.47 8,434,312 63,686
11 IOT 2.79 7,763,506 65,702
12 DASH 828.86 6,491,678 75,804
13 XMR 362.9 5,672,220 121,089
14 TRX 0.07 4,793,477 394,856
15 BTG 209.78 3,519,673 144,648
16 QTUM 43.16 3,186,407 1,493,040
17 ETC 31.79 3,156,453 339,567
18 LSK 22.63 2,653,723 30,133
19 XRB 16.76 2,233,508 15,107
20 OMG 17.02 1,737,254 56,064
21 PPT 44.28 1,638,387 1,823
22 USDT 1.00 1,622,945 3,298,380
23 XVG 0.11 1,551,923 151,164
24 ZEC 488.29 1,517,685 95,519
25 BNB 14.4 1,425,965 122,468
26 SC 0.04 1,388,312 58,861
27 STRAT 13.56 1,338,132 17,614
28 BCN 0.01 1,254,418 6,010
29 STEEM 4.97 1,230,472 14,753
30 ARDR 1.09 1,091,147 78,635
31 SNT 0.30 1,027,906 16,539
32 REP 88.37 972,025 46,956
33 BTS 0.36 942,823 17,328
34 ZRX 1.74 868,313 15,018
35 KCS 9.45 860,801 5,447
36 WAVES 8.35 834,863 36,947
37 DOGE 0.01 812,269 17,264
38 VERI 376.68 767,165 820
39 KMD 6.91 711,107 19,255
40 WTC 28.34 705,597 63,116
41 DCR 103.49 683,339 1,202
42 SALT 8.34 593,063 9,965
43 ARK 5.92 580,050 14,225
44 BAT 0.57 566,772 10,184
45 DGB 0.06 557,625 10,256
46 HSR 12.31 523,416 43,272
47 GNT 0.62 520,908 9,534
48 KNC 3.71 498,059 19,876
49 GAS 50.69 484,532 8,126
50 FUN 0.11 473,076 14,162
51 PIVX 8.50 471,155 5,514
52 GBYTE 726.91 469,018 2,411
53 FCT 48.84 427,088 12,951
54 MONA 7.03 399,726 7,970
55 POWR 1.10 399,027 15,359
56 DGD 188.51 377,016 3,906
57 BTM 0.37 366,073 10,269
58 AE 1.53 356,249 1,582
59 SYS 0.66 352,601 774
60 KIN < 0.01 352,095 791
61 RDD 0.01 343,450 5,373
62 REQ 0.51 324,972 10,472
63 XZC 78.3 305,618 3,308
64 NXT 0.30 303,681 9,648
65 MAID 0.67 302,156 5,270
66 XP < 0.01 294,918 1,781
67 BTCD 202.26 260,684 284
68 ICN 2.58 257,235 4,102
69 GAME 3.97 255,498 5,473
70 PAY 2.43 253,904 8,605
71 CVC 0.72 248,341 7,742
72 VTC 4.84 206,187 3,271
73 STORJ 1.53 203,941 7,773
74 SAN 2.84 177,893 4,956
75 BCC 17.92 164,464 5,909
76 BTM 2.14 16,957 47
77 BTG 18.64 1,117 293

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.