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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 13260.27 222,978,422 4,520,485
2 ETH 1172.92 113,899,480 1,927,758
3 XRP 1.58 61,287,261 2,348,780
4 BCH 2093.92 35,434,480 860,796
5 ADA 0.73 19,030,494 109,954
6 LTC 214.41 11,759,631 406,541
7 EOS 18.18 11,223,154 2,576,760
8 XEM 1.23 11,086,024 61,513
9 NEO 155.12 10,083,072 290,765
10 XLM 0.55 9,867,130 82,766
11 IOT 3.06 8,516,419 90,277
12 DASH 951.93 7,453,712 110,023
13 XMR 419.3 6,552,063 230,196
14 TRX 0.09 5,823,415 576,341
15 BTG 250.76 4,206,736 196,411
16 QTUM 50.09 3,697,942 1,359,550
17 ETC 34.97 3,471,133 243,466
18 LSK 26.38 3,092,504 38,256
19 XRB 19.64 2,617,223 15,995
20 OMG 19.68 2,008,657 89,266
21 PPT 49.42 1,828,898 3,443
22 ZEC 555.08 1,721,303 126,596
23 XVG 0.11 1,675,434 66,462
24 BNB 16.82 1,665,658 134,929
25 STRAT 16.73 1,651,390 25,615
26 SC 0.05 1,635,543 59,364
27 USDT 1.00 1,623,851 2,935,940
28 BCN 0.01 1,494,467 7,011
29 ARDR 1.43 1,424,463 87,843
30 STEEM 5.72 1,415,697 21,586
31 SNT 0.36 1,233,591 24,850
32 BTS 0.45 1,186,191 25,795
33 REP 97.03 1,067,375 53,350
34 ZRX 2.11 1,050,410 25,888
35 KCS 11.42 1,039,794 9,820
36 DOGE 0.01 981,380 18,000
37 WAVES 9.62 961,839 51,924
38 VERI 428.79 873,297 1,643
39 KMD 8.12 834,546 47,176
40 DCR 123.44 814,281 2,536
41 SALT 10.23 727,282 19,284
42 WTC 28.34 705,660 48,481
43 ARK 7.12 697,891 18,507
44 DGB 0.07 688,641 12,668
45 BAT 0.68 677,193 14,334
46 HSR 14.94 635,323 44,597
47 GNT 0.75 625,932 12,735
48 KNC 4.61 618,834 31,592
49 GAS 61.92 591,466 13,459
50 GBYTE 886.22 571,807 968
51 PIVX 10.03 555,434 9,579
52 FUN 0.12 542,438 21,404
53 FCT 61.04 533,770 17,439
54 POWR 1.33 480,674 23,338
55 MONA 8.43 479,272 28,010
56 KIN < 0.01 449,322 1,102
57 BTM 0.45 448,298 12,237
58 AE 1.85 431,326 2,184
59 SYS 0.79 420,583 5,337
60 DGD 208.91 417,818 5,032
61 RDD 0.01 415,641 6,727
62 REQ 0.62 397,824 22,164
63 NXT 0.36 364,465 11,980
64 MAID 0.78 354,984 4,873
65 XZC 88.64 345,848 5,254
66 XP < 0.01 340,793 184
67 BTCD 252.17 325,008 556
68 CVC 0.91 311,061 15,659
69 ICN 3.07 306,312 12,092
70 GAME 4.75 305,946 4,232
71 PAY 2.88 301,373 8,665
72 STORJ 1.91 254,802 14,125
73 VTC 5.81 247,209 8,168
74 SAN 3.53 221,107 5,793
75 BCC 21.79 199,914 7,075
76 BTM 2.28 18,051 32
77 BTG 8.28 496 7

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.