Bit20 - The cryptocurrency index fund [2017/01/21 - revision]
On the 21st day of every month, Bit20 runs an algorithm that creates its new composition. By this process, it always includes the most promising coins. Some coins appear in the index and others disappear. Some of them gain weight and other lose some of it. This new composition swap with the previous one without any disturbance of the index price.
We have run this operation yesterday. Here is the new composition of the Bit20 Index Fund:
BTC / 10 % / 0.3854773219037 coins / 895.6 USD
ETH / 10 % / 32.498852891548 coins / 10.62294385125 USD
LTC / 10 % / 88.565054250129 coins / 3.8980779995 USD
XMR / 10 % / 28.92826512812 coins / 11.93412352825 USD
ETC / 10 % / 257.36612183967 coins / 1.34141 USD
DASH / 10 % / 22.706874335723 coins / 15.2039195 USD
MAID / 5.605192749948 % / 1657.516765057 coins / 0.116746949 USD
REP / 5.1693273075855 % / 40.288558071114 coins / 4.4296072885 USD
STEEM / 3.924900604758 % / 846.10289746884 coins / 0.16014684925 USD
ICN / 3.5907407484569 % / 318.64586951525 coins / 0.389035 USD
XEM / 3.3896076556812 % / 32963.365811923 coins / 0.00355002 USD
FCT / 2.6409348553145 % / 32.059506452613 coins / 2.843896418 USD
WAVES / 2.4919257838923 % / 366.25962013247 coins / 0.234887 USD
DOGE / 2.3550144139601 % / 394851.50216399 coins / 0.00020590775 USD
ZEC / 2.2434315986638 % / 1.7798610600765 coins / 43.515066239 USD
DGD / 1.8400299274678 % / 7.3251924026494 coins / 8.67199 USD
GNT / 1.7529318236962 % / 3003.3288850863 coins / 0.02015 USD
XLM / 1.7311981425606 % / 25350.785156319 coins / 0.00235759 USD
LSK / 1.678530301772 % / 373.9432348432 coins / 0.154966 USD
USDT / 1.5862340862431 % / 54.761565259618 coins / 1.00001 USD
The composition is sent in the BitShares Blockchain so the witnesses can read it and publish the price in the decentralised exchange. This system guarantees decentralisation and prevent any market manipulation. Here it is:
http://cryptofresh.com/tx/e07772ffc581ca5d64d0c58bffa91be5a2b8113d
You will find on the website the composition with the updated price of each coin and the total value of the index
A glance at the state of the market since its creation on the BitShares Decentralised Exchange
We are currently working on tracking data from Bit20 market to create a review of the coins movements inside the index, the volume traded, the trends of buyers and sellers and lots of other interesting information. We'll have this report ready in the course of the next weeks and will publish it on a regular basis.
Thanks for keeping me up to date, Estefantt!
Upvoted & Followed you as well.
You are very welcome sir ;)
This will be Interesting!
It won't ... it is already ! ;p
I dont think a few of these coins will really keep their value or even rise. Doge is probably only alive due to the cult statues and Litecoin doesnt really serve a purpose anymore
This cryptocurrency index fund has not been created to have the very best 20 coins of the market and keep them unchanged forever. If you have a look on the website (www.bittwenty.com), you will see the explanation on how the algorithm selects the coins.
They are basically selected by market cap, the top 20. Then they are calibrated so BTC, ETH and other big market cap don't have too much weight in the balance.
Every month, there is a revision like the one described in this blog. 20 new coins are selected, most of the previous one remain off course.
We consider that if the project has a high market cap, it deserves its place in the index. I also believe that these won't be the best 20 coins forever but it's not a problem because every month they are renewed.
Bittwenty will always have the best coins of the moment and follow the economic growth of the cryptocurrency sphere in a global way.