As the burgeoning cryptocurrency space continues to serve as a hotbed for innovation, it gains increasing legitimacy amongst everyone from retail investors who have never heard of it to legacy financial heavyweights that were previously skeptical of magical internet money.
Perhaps unsurprisingly, Bitcoin and similar offerings have started to appeal to institutional and enterprise players in recent years – a far cry from the early days of novelty currencies for the technologically-inclined.
As they have evolved, cryptocurrency infrastructure has certainly undergone some growing pains – as the landscape transforms to accommodate a wider range of users hailing from existing markets, protocols and systems for managing, transmitting and storing cryptocurrencies has been forced to adapt.
Brave New Coin stands out as one of the pioneers spearheading the provision of high-quality resources for a new wave of investors. Founded in 2014 in New Zealand, it has become an indispensable repository of data, sophisticated market analysis and research materials. The company’s indices have long been hailed in the cryptocurrency space as a trusted third party data source, enabling traders and businesses to tap into a single, reliable price ticker for a myriad of digital assets.
To arm the end user with accurate information, BNC’s indices aggregate data (such as volume and order-book depth) from highly-liquid exchanges. To keep pace with the market and to provide the best institutional-grade solutions to entities in the space, the company relies on its Liquid Indices Governance Panel (LXGP) to assess the exchanges from which it draws data on a quarterly basis – applying a rigorous criteria to ensure that only the best are used.
We’re thrilled to be able to unveil our collaboration with BNC. Over the past few months, we have been working closely with their team to develop two of our own products in the newly-formed BTSE-BNC Basket index. The first is what we call our ‘main coin’ index, BBCX, which is made up of some of the most popular offerings available on the market (that is, BTC, LTC and ETH). This will be available to our users now, and will be followed in the coming months by our altcoin index, BBAX, which consists of ETH, LTC, EOS and XRP.
These baskets will provide analysts with some of the most reliable cryptocurrency data on the market: by tracking, free-floating market capitalization, anyone can generate high-quality insights into the general trends in the space. For investors and traders, they provide an ideal opportunity for trading futures without managing individual assets.
Initially, the BBCX index will be weighted at 60% for BTC, 33.25% for ETH and 6.75% for LTC, and draw data from the likes of Bitstamp, Kraken, Coinbase Pro – and ourselves, of course! Much like BNC’s traditional indices, however, this will be subject to review every quarter to ensure that we can continue to deliver the most accurate information to our users. A breakdown of the index can be viewed here.
BTSE is committed to its mission to serve as the one-stop shop for traders of all kinds. Our partnership with Brave New Coin has yielded a powerful addition to our users’ arsenal of advanced trading tools, one that we look forward to iterating on over time.
To celebrate the launch, we’ve announced our first ever trading competition. With over 16 BTC up for grabs, you’ll compete against other traders around the world to achieve the highest PnL & the highest percentage PnL, all whilst trading on the newly-added indexes. Registration closes on November 11th, so be sure to sign up now!
Our aim is to create a platform that offers you the most enjoyable trading experience. If you have questions or suggestions, please don’t hesitate to reach out to us at email@example.com or DM us on Twitter: @BTSEcom.