The rapid growth of cryptocurrencies has attracted professionals and amateur investors worldwide. Cryptocurrencies now hold a market cap of more than $300 billion, a cap that according to many analysts will almost certainly reach $10 trillion in the not so distant future. Today, there are more than 1604 distinct cryptocurrencies on the market, a number that will increase in multitudes.
It is impossible to predict the next Bitcoin. Until now.
Introducing Cryptoindex, a new platform powered by AI that was built to create the Cryptocurrency market benchmark, known as the Cryptoindex100. The unique algorithm, ‘Zorax’ uses a wide variety of data inputs from an extensive number of sources to create a unique approach to the production of a fully automated index calculation. Based on these inputs (fed through neural networks) and calculations each coin is constantly revalued as part of the Index. The Cryptoindex100 is automated — human influences are reduced to a minimum.
The formation of the index is the obvious step for old-world finance markets to start viewing “new world” currencies as viable investment opportunities. Cryptocurrency market players have long desired a tool whereby every crypto investor, regardless of the level of knowledge, can automate and simplify the process of portfolio diversification. Cryptoindex – reduces the volatility and risk of existing individual cryptocurrencies and creates a smart new benchmark for the cryptocurrency market.
“The time for a professional cryptoindex has come,” remarked James Davies, former COO of the London Derivatives Exchange (LDX).
Cryptoindex possesses the following functions:
- It creates a “crypto portfolio” that chooses the right coins, based on rules and filters, taking into account a coin’s overall ratings plus hundreds of other factors that affect their value.
- It obviates the need to register a host of wallets.
- It rebalances a portfolio automatically and instantly.
A Cryptocurrency index is analogous to a commodity or equity index. Cryptocurrency indices organize a certain number of digital currencies into a single diversified portfolio, creating an effortless, efficient investment signal that is easy to understand. With Cryptoindex the customer has the opportunity to monitor the dynamics of the cryptocurrency markets and store savings in several digital currencies, conducting a minimum of transactions.
Cryptoindex users can monitor the immediate value of the Cryptoindex100; track formulas and metrics through the platform, and automate crypto portfolio diversification. It reduces the volatility found in most cryptocurrencies through the purchase of what the company has dubbed the CIX100 token.
CIX100 will become available on most crypto exchanges, with its own set price, though the reference to the index will be kept. The purchaser uses the CIX100 to access the Cryptoindex platform purchasing datasets, and other services. Moreover, those who purchase the CIX100 tokens during the Token sale may access the Liquidity Provision Programme (LPP) provided by the partner firm.
“I find the opportunities and developments in the Cryptocurrency world fascinating and exciting,” said Cryptoindex CEO VJ Angelo, a 30-year veteran of the financial markets. “Cryptoindex offers the opportunity to bring the new currency and banking world together with the traditional investment and trading model. I believe this project will accelerate the development and adoption of these new products changing how we bank and trade in the future.”
The algorithm ‘Zorax’ was developed by a team of mathematicians with over 13 years’ of market evaluation and trading strategy experience. Results from the neural network’s output are fed into a strategic layer while the AI ‘Zorax’ optimizes weights. This strives to produce the best possible strategy in today’s ever-changing market conditions. Cryptoindex’s system is a complex platform built to cover three major segments of portfolio management and fully automate the task of exchanging cryptocurrency whilst managing the rebalancing process of the index portfolio ultimately replacing coins that do not meet the required criteria.
The Private sale of the CIX100 tokens will commence on the 5th of July 2018. Whitelist and ICO terms will be released at a later date on the website.
CIX100 Token is a utility token. CIX100 Token is not intended for sale or use in any jurisdiction where a sale or use of digital tokens may be restricted or prohibited. CIX100 Token is not a digital currency, security, commodity, or any other kind of financial instrument and has not been registered under the securities laws of any jurisdiction. Note that this publication may contain forward-looking statements.
This is a press release. Trustnodes has not undertaken any verification of any of the above statements and any statement or project contained therein is not necessarily endorsed by Trustnodes. Readers are strongly urged to do your own research.