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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 11723.91 197,043,955 9,677,283
2 ETH 1068.6 103,677,753 5,197,858
3 XRP 1.20 46,299,087 5,720,560
4 BCH 1802.03 30,482,117 1,555,836
5 ADA 0.64 16,547,116 182,356
6 LTC 189.47 10,380,884 1,234,195
7 NEO 148.02 9,621,568 1,049,617
8 XEM 1.07 9,589,637 164,524
9 XLM 0.46 8,155,383 226,537
10 IOT 2.62 7,283,021 210,352
11 EOS 11.07 6,737,870 1,463,368
12 DASH 765.41 5,987,249 210,042
13 XMR 325.3 5,078,195 220,430
14 TRX 0.06 3,625,314 536,118
15 BTG 198.73 3,332,385 321,502
16 ETC 30.03 2,978,487 774,275
17 QTUM 36.02 2,659,013 994,728
18 LSK 21.58 2,526,183 108,620
19 XRB 14.89 1,983,507 28,076
20 OMG 17.58 1,794,122 132,773
21 USDT 1.03 1,667,200 5,541,320
22 ZEC 514.26 1,579,939 285,430
23 STRAT 15.36 1,516,385 49,188
24 ARDR 1.50 1,499,169 4,669
25 BNB 14.27 1,413,107 358,681
26 PPT 37.95 1,404,451 7,419
27 XVG 0.09 1,291,193 139,942
28 BCN 0.01 1,211,193 12,034
29 SC 0.04 1,197,984 78,970
30 SNT 0.32 1,108,898 39,388
31 STEEM 4.02 991,845 13,223
32 KCS 10.72 975,572 18,890
33 BTS 0.36 944,370 30,766
34 WAVES 8.40 839,998 42,296
35 ZRX 1.61 795,557 52,024
36 DOGE 0.01 784,569 54,069
37 REP 66.52 731,707 28,220
38 VERI 330.12 672,331 661
39 KMD 5.76 598,934 14,679
40 DGB 0.06 595,295 38,133
41 SALT 8.44 591,519 19,821
42 GAS 63.19 577,381 59,722
43 GNT 0.68 563,514 23,391
44 DCR 84.93 557,953 5,027
45 ARK 5.67 555,485 16,380
46 HSR 11.79 501,064 73,352
47 BAT 0.50 498,270 27,097
48 WTC 19.87 494,817 59,171
49 KNC 3.47 465,973 16,211
50 PIVX 8.34 461,829 10,362
51 GBYTE 687.62 443,668 3,478
52 FCT 43.8 383,058 22,513
53 MONA 6.63 376,097 9,143
54 DGD 185.86 371,714 11,470
55 FUN 0.08 367,280 20,430
56 AE 1.50 350,123 3,248
57 REQ 0.53 341,402 26,780
58 BTM 0.34 338,526 23,530
59 POWR 0.93 335,014 33,756
60 KIN < 0.01 331,250 805
61 SYS 0.61 326,061 7,974
62 RDD 0.01 320,720 20,722
63 MAID 0.69 313,975 8,403
64 NXT 0.29 291,841 17,400
65 XZC 74.28 289,351 9,663
66 XP < 0.01 287,461 3,690
67 GAME 4.32 277,991 14,459
68 PAY 2.51 262,425 21,064
69 BTCD 195.33 251,756 172
70 ICN 2.42 241,226 10,140
71 CVC 0.69 235,557 20,085
72 VTC 4.18 177,894 6,042
73 STORJ 1.31 174,075 10,147
74 SAN 2.44 152,976 22,478
75 BCC 19.94 125,574 5,841
76 BTM 1.98 15,528 50
77 BTG 6.49 389 10

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.