CoinMarketCap debuts top 100 crypto index
'Index will make industry even more accessible to general public,' said CEO Rush Lu
CoinMarketCap has unveiled its new CoinMarketCap 100 Index (CMC100 Index), a benchmarking tool that mirrors the role of the S&P 500 in traditional markets. Following Coinbase’s recent introduction of its COIN50 feature, the CMC100 Index adds another way to track the performance of major digital assets.
The index monitors the top 100 cryptos—excluding stablecoins like USDT and wrapped tokens. Wrapped tokens, such as WBTC or stETH, represent cryptocurrencies from other blockchains, enabling their use on different platforms. It also includes assets from emerging fields like GameFi, which combines gaming with financial rewards, and memecoins, offering a snapshot of the market's overall performance.
The CMC100 Index ranks these assets based on market cap, a measure of a crypto’s size, stability, and popularity. Market cap is calculated by multiplying a coin’s price by its circulating supply (market cap = price x circulating supply).
To maintain real-time transparency, the index updates every five minutes. It’s also designed for easy access, with data integration available through APIs—tools that allow websites and apps to display live information directly from CoinMarketCap.
These features make the CMC100 Index a practical tool for investors and traders alike.
🧵 Introducing the CoinMarketCap 100 Index
— CoinMarketCap (@CoinMarketCap) December 9, 2024
A new standard for tracking cryptocurrency performance—just like the S&P 500 but for digital assets. Covering 100 top crypto projects, this is your go-to benchmark.
Get a sneak peek here: https://t.co/hbi4hBKCe7
Keep scrolling to find… pic.twitter.com/5Kj1WWRX0i
Rush Lu, the CEO of CoinMarketCap, noted, “The speed at which the digital asset industry changes can be overwhelming for the majority of people. The CoinMarketCap 100 Index sets a new benchmark for market transparency and accuracy, providing essential visibility into over $3 trillion in digital assets to help users better understand and analyze this rapidly evolving market.”
He added, “Over time, we believe the CoinMarketCap 100 Index will make the industry even more accessible to the general public.”
As the crypto industry grows and evolves, the demand for credible benchmarks is increasing. The CMC100 Index seeks to meet this need by offering market participants a reliable standard for analysis and tracking.
At the time of writing, the CMC100 Index is valued at $209.45. Bitcoin leads the index with a market cap weight of 61.26%, followed by Ethereum at 14.18%.
By providing a clear, real-time overview of market trends, the CMC100 Index is poised to become a valuable resource for navigating the dynamic world of digital assets.
