Crypto Price Index Predicted to Revolutionize the Cryptocurrency Market
The crypto market holds at least 4,000 tokens to-date. As a result, the demand for a trusted financial index by traders has been elevated to unprecedented heights.
The Crypto Price Index (CPI) is anticipated to be an ideal crypto market indicator because it will include over 200 of the top traded cryptocurrencies based on market capitalization. Expressly, it is expected to function like the Dow Jones Industrial Average by offering insights about the trading history of the major blockchain projects.
A proprietary chain blockchain engineers the CPI, and it is one of the few indexes that shows the overall state of the cryptocurrency market and further enhances public access to the network.
The CEO of CPI, Herbert Law, acknowledged: “Given my background in traditional finance and commodities trading, I understand the value of market indicators for making sound investment decisions. We aim to provide a reference point for crypto traders, which we believe will lower barriers to entry by saving investors time and resources normally spent on research with our crypto index that provides a single, easy-to-understand number representing overall market health.”
Conversely, an advisor to CPI’s board noted: “I applaud the CPI project for approaching the digital asset markets with stability and transparency in mind. Solutions like CPI, which build with non-technical users in mind, will ensure decentralized finance grows and reaches mass adoption.”
For industry validation and international recognition, CPI has collaborated with members of the Emirati Royal Family.
Image via Shutterstock