Coinbase, the biggest crypto exchange in the U.S., has launched its own index, Coin50, which includes the top 50 crypto assets by market cap.
Coin50: Coinbase’s New Index
The Coin50 index comprises the top 50 crypto assets by market cap, giving investors a clear picture of the market’s performance. This is a significant step for Coinbase, aiming to present a more organized view of the crypto industry.
The Purpose of Coin50
Greg Tusar, Coinbase’s Head of Institutional Products, envisions Coin50 becoming the go-to market benchmark. 'We're trying to create an index that's not specific to any asset,' he said. Coin50 is structured as an investment product for the international market due to existing U.S. regulatory restrictions.
Bitcoin and Its Market Position
Tusar believes Bitcoin alone isn't enough to describe the entire market. The Coin50 expands the horizon by including a broader array of assets. While Bitcoin is seeing a price surge to $90,000, market euphoria has led to warnings of overheating from QCP Capital.
With Coin50, Coinbase aims to offer a wider understanding of the market, reducing the reliance on Bitcoin as the primary benchmark. This could help investors better assess trends and market movements.
