The Nasdaq stock exchange is pushing forward in the crypto direction and has officially listed a new index called the CIX100, which tracks activity and progress of the crypto market’s biggest 100 assets. The index uses artificial intelligence (AI) to give investors, traders and all interested parties, an in-depth and concise look at the crypto market, to easily guide their investment and trade decisions.

Designed by Cryptoindex.com, the CIX100 has been running before now, on other platforms such as Bloomberg, Tradingview and Reuters and uses an algorithm called “Zorax”, which runs through information from nearly 2,000 cryptos, to collect information on their performance as it happens.

The Cryptoindex Project Manager, Krill Marchenko, told CoinDesk that the index only lists tested and trusted coins. Marchenko said:

“We make sure our index includes only [coins] that have no fake volume, have no manipulation, and that come from scrupulous companies. We’ve become a more accessible and convenient financial instrument for all types of investors, not only professional.”

For a coin to be listed, it must be among the largest 200 in the sector by market cap and must have stayed there for a minimum of three months. Apart from using several different levels of neural networks and other considerations, the AI also picks information from the nine biggest crypto exchange platforms in the world. It also considers data from several million transactions that are carried out everyday, as well as information from social media as well.

Last month, Nasdaq added a new index for decentralized exchanges.

Image Credits: Pixabay

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