Bit20 - The cryptocurrency index fund [2017/03/21 - 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 / 17078016203 USD / 10 % / 0.71737160102544 coins / 1052.425 USD
ETH / 3902138422 USD / 10 % / 17.403091633042 coins / 43.3819359875 USD
DASH / 717509157 USD / 10 % / 7.5515538083525 coins / 99.97675 USD
XMR / 319067298 USD / 10 % / 33.482640328029 coins / 22.5483952225 USD
LTC / 203245289 USD / 10 % / 186.74837820383 coins / 4.042765 USD
ETC / 174312828 USD / 10 % / 389.40794953477 coins / 1.9387888925 USD
XEM / 125694023 USD / 7.6246819628123 % / 41217.813889948 coins / 0.0139660025 USD
REP / 91378026 USD / 5.543051053745 % / 50.377328222237 coins / 8.3070932175 USD
MAID / 79586715 USD / 4.8277823865975 % / 2072.5801242003 coins / 0.1758618725 USD
ZEC / 66460478 USD / 4.0315362318102 % / 4.159935940413 coins / 73.1676759125 USD
GNT / 45441247 USD / 2.7564958786354 % / 3755.4007978812 coins / 0.055416155 USD
STEEM / 45195613 USD / 2.7415955589181 % / 1071.36165308 coins / 0.193198 USD
FCT / 31138767 USD / 1.8888980511756 % / 40.087617107078 coins / 3.5574074725 USD
ICN / 30978873 USD / 1.8791987761531 % / 398.43886601788 coins / 0.356079 USD
WAVES / 28453000 USD / 1.7259776615464 % / 457.97570806653 coins / 0.28453 USD
LSK / 25866417 USD / 1.569073838479 % / 479.12906531574 coins / 0.24724425 USD
DCR / 25329008 USD / 1.5364742556894 % / 18.632346478303 coins / 6.22577 USD
DOGE / 25137413 USD / 1.5248519771928 % / 497450.57362211 coins / 0.0002314265 USD
MLN / 19391789 USD / 1.1763186529161 % / 2.7451064224628 coins / 32.352 USD
ARDR / 19354616 USD / 1.1740637143292 % / 4575.174959717 coins / 0.019374 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/u/bittwenty.feed
You will find on the website the composition with the updated price of each coin and the total value of the index
Next, 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 months and will publish it on a regular basis.
This is certainly one of the best investment vehicles in cryptocurrencies. It is certainly also risky to short, which can be seen in the spread. There is a nice arbitrage opportunity for someone.
I think it would be more approachable if you emphasized the bitUSD market instead of the BTS one. People find easier to measure value in something familiar, especially if it's stable.
The market of bitUSD has grow this last week ... I think is the result of the efforts of a certain MarkoPaasila. Really nice to see people getting involve ! I wish you a great trading experience and big ROI ;)
Great Post, Thanks for spreading awareness!
You're welcome SteemitGuide ;)