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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 14412 242,193,794 3,222,958
2 ETH 1329.67 128,980,954 2,438,212
3 XRP 1.67 64,580,475 1,798,380
4 BCH 2522.19 42,659,433 1,287,699
5 ADA 0.82 21,322,528 223,039
6 LTC 241.15 13,208,592 473,285
7 XEM 1.45 13,028,304 56,055
8 NEO 198.38 12,894,789 1,108,544
9 XLM 0.63 11,258,532 167,023
10 IOT 3.63 10,087,496 70,204
11 EOS 14.88 9,024,250 725,070
12 DASH 979.02 7,656,264 141,573
13 XMR 432.42 6,748,752 183,954
14 TRX 0.08 5,290,661 924,955
15 BTG 305.61 5,124,023 909,791
16 ETC 41.57 4,121,098 409,164
17 QTUM 52.3 3,860,396 1,547,980
18 LSK 28.51 3,336,575 64,510
19 XRB 20.81 2,772,391 22,876
20 OMG 22.62 2,308,539 92,255
21 STRAT 21.95 2,166,847 85,677
22 BNB 20.78 2,057,156 220,841
23 ARDR 2.04 2,037,989 4,139
24 ZEC 629.81 1,930,392 156,790
25 SC 0.06 1,868,205 63,094
26 BCN 0.01 1,803,416 12,702
27 XVG 0.12 1,788,405 97,169
28 PPT 46.22 1,710,193 3,731
29 BCC 251.91 1,576,099 2,206
30 SNT 0.44 1,520,385 30,845
31 USDT 1.01 1,479,012 2,554,490
32 STEEM 5.78 1,427,559 10,011
33 BTS 0.54 1,403,507 23,045
34 KCS 13.31 1,211,865 22,288
35 DOGE 0.01 1,171,146 50,340
36 WAVES 10.75 1,075,120 47,120
37 REP 91.28 1,004,030 23,271
38 ZRX 1.83 902,426 35,488
39 DGB 0.09 862,505 23,814
40 GAS 91.94 840,111 109,626
41 KMD 7.91 822,786 15,117
42 GNT 0.97 812,605 30,213
43 VERI 397.06 808,676 499
44 HSR 18.11 769,553 90,917
45 ARK 7.77 761,798 15,982
46 BAT 0.73 731,879 30,715
47 DCR 111.35 730,938 3,279
48 KNC 4.91 658,815 25,936
49 PIVX 11.88 657,327 10,452
50 WTC 24.94 620,931 46,997
51 SALT 10.94 592,069 19,495
52 GBYTE 865.49 558,431 2,433
53 FCT 62.57 547,220 21,166
54 BTM 0.55 543,783 20,310
55 FUN 0.12 522,292 22,089
56 MONA 8.74 495,696 8,894
57 AE 2.10 488,512 3,034
58 POWR 1.34 484,911 32,564
59 XP < 0.01 468,474 4,700
60 MAID 1.03 464,233 7,763
61 SYS 0.87 459,789 6,788
62 RDD 0.02 458,397 12,859
63 NXT 0.44 434,917 13,124
64 REQ 0.68 433,790 23,196
65 KIN < 0.01 399,325 2,539
66 GAME 6.20 398,690 7,301
67 DGD 197.4 394,806 7,775
68 PAY 3.42 357,917 24,483
69 ICN 3.55 354,494 21,728
70 CVC 1.03 353,020 27,164
71 XZC 89.72 348,677 6,629
72 BTCD 234.08 301,701 531
73 STORJ 1.98 263,654 10,077
74 VTC 5.93 252,150 5,445
75 SAN 3.81 239,022 14,070
76 BTM 2.91 22,811 29
77 BTG 8.98 538 23

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.