Results of the ixCrypto Index Quarterly Review (2022 Q2)
- Written by The Bulletin
HONG KONG SAR - Media OutReach - 15 July 2022 - Today, IX Asia Indexes Company Limited ("IX Asia Indexes") announced the 2022 2nd quarter review of the ixCrypto Index ("IXCI") with results of the constituent review and exchange review as follows:
Constituent Review
The number of constituent cryptos will be increased from the current 19 to 29 constituents:
Additions
- Ethereum Classic
- Elrond
- EOS
- Filecoin
- Flow
- Klaytn
- Monero
- Tezos
- Theta Network
- VeChain
Deletion
No deletion
After the change, the free float adjusted market capitalization coverage is 74.08%*, while the 90-day-average volume coverage is 78.17%*. The constituents changes above and recapping at 40% will be effective on July 22, 2022 (Friday).
Since the last review, there has been a decrease in the crypto total market capitalisation from USD2.16tn to USD0.8tn(-63.0%), and a drop in the daily volume from USD113bn to USD62bn(-45.1%). Bitcoin remains as the largest crypto in the constituent list, with its price fell by 57.28% since the last review.
Exchange Review
As a result of exchange review, the selected 10 exchanges to generate each of the fair average prices for the constituents are as follows:
Selected Exchanges
- Binance
- BitMart
- Bitrue
- Coinbase Exchange
- DigiFinex
- FTX
- HitBTC
- Hotcoin Global
- OKX
- Upbit
Removal of Terra classic from Spot Price Index
The launch of the Spot Price Index series is to provide a single USD equivalent price for the market at every 5-second interval real-time, for the most representable coins in the world. Following the significant market cap reduction of Terra Classic since Terra (UST) de-peg incident in mid-May, Terra Classic will be replaced by Avalanche, the next top coin ranked by 90 days average market cap. For the purpose to reflect a fair and representative valuation of cryptos, each disseminated spot price is an average price of the coin in at most 10 exchanges.
For more details about our exchange selection criteria, please email info@ix-index.com
More details about the ixCrypto Index, including its constituents, constituents' weight are provided in the Appendices, or refer to the website https://ix-index.com/
*exclude stable coins and exchange coins (based on conflict of interest rule methodology effective Oct 2, 2020)
Appendix 1
| Universe | All crypto coins traded in at least two different exchanges around the world |
| Selection Criteria | Cryptocurrencies ranking in the top 80% of cumulative full market capitalization ("MC") coverage and within an acceptable range in accordance with the Volume Buffer Rule in terms of 90-day average trading volume |
| Number of Constituents | Variable/29 in Q3 2022 |
| Launch Date | 12th December 2018 |
| Base Date | 3rd December 2018 |
| Base Value | 1,000 |
| Reconstitution Rule | If the coverage is below 75% or any of constituents is not within an acceptable range in accordance with the Volume Buffer Rule in terms of 90-day average trading volume, IXCI will be reconstituted to bring MC coverage back and do liquidity screening. |
| Reconstitution and Rebalancing Frequency | Quarterly and with a fast entry rule |
| Weighting Methodology | Free float adjusted market capitalization weighted with a cap of 40%, or a 40%/ 30%/ 20% step cap under extreme conditions |
| Currency | US Dollar |
| Dissemination | Every 5 seconds for 7x24 |
| Website | https://ix-index.com/ |
Appendix 2
Weightings of the Constituents of ixCrypto Index
| | Crypto | 90-day-average-volume * | 90-day-average- Market Cap | Cummulative Market Coverage before Cap | Weighting (%) After 40% Cap |
| 1 | Bitcoin | $31,302,332,439 | $621,375,928,720 | 42.85% | 40.00% |
| 2 | Ethereum | $18,505,138,397 | $269,745,495,743 | 61.45% | 33.32% |
| 3 | XRP | $1,684,677,152 | $25,161,456,645 | 63.19% | 3.97% |
| 4 | Cardano | $1,125,438,918 | $23,595,542,378 | 64.81% | 3.93% |
| 5 | Solana | $1,782,940,319 | $22,743,900,365 | 66.38% | 2.90% |
| 6 | Dogecoin | $1,029,337,212 | $13,712,514,261 | 67.33% | 2.30% |
| 7 | Polkadot | $739,409,553 | $12,662,267,600 | 68.20% | 1.73% |
| 8 | Avalanche | $782,029,937 | $12,363,143,941 | 69.05% | 1.24% |
| 9 | Polygon | $608,679,431 | $7,093,769,035 | 69.54% | 0.99% |
| 10 | TRON | $1,275,795,478 | $6,874,345,369 | 70.02% | 1.50% |
| 11 | NEAR Protocol | $788,220,357 | $ 6,200,215,557 | 70.44% | 0.62% |
| 12 | Litecoin | $727,608,811 | $ 5,689,275,447 | 70.84% | 0.94% |
| 13 | Bitcoin Cash | $3,181,275,699 | $ 4,390,544,264 | 71.14% | 0.50% |
| 14 | Cosmos | $427,677,512 | $ 4,334,119,024 | 71.44% | 0.53% |
| 15 | Stellar | $255,675,181 | $ 3,891,295,038 | 71.71% | 0.69% |
| 16 | Algorand | $198,699,397 | $ 3,614,114,591 | 71.96% | 0.52% |
| 17 | Ethereum Classic | $518,525,190 | $ 3,544,354,575 | 72.20% | 0.51% |
| 18 | Monero | $196,955,986 | $ 3,425,708,259 | 72.44% | 0.54% |
| 19 | VeChain | $228,635,755 | $2,721,116,004 | 72.62% | 0.41% |
| 20 | Hedera | $55,457,324 | $2,600,759,866 | 72.80% | 0.34% |
| 21 | Internet Computer | $151,264,075 | $2,506,425,164 | 72.98% | 0.33% |
| 22 | Filecoin | $359,429,932 | $2,432,843,775 | 73.14% | 0.31% |
| 23 | Elrond | $99,516,201 | $2,331,467,386 | 73.31% | 0.28% |
| 24 | Flow | $78,994,250 | $2,164,781,357 | 73.45% | 0.40% |
| 25 | Tezos | $94,637,188 | $2,064,430,928 | 73.60% | 0.33% |
| 26 | Theta Network | $157,335,505 | $2,009,113,830 | 73.74% | 0.31% |
| 27 | Klaytn | $72,678,355 | $1,681,557,442 | 73.85% | 0.17% |
| 28 | EOS | $407,362,020 | $1,674,706,522 | 73.97% | 0.23% |
| 29 | Fantom | $386,866,689 | $1,668,771,518 | 74.08% | 0.17% |
* 90-day-average-volume ranking in total market is shown in the parentheses
* For the calculation methodology of the index, please refer to the "ixCrypto Index Methodology Paper" on our website
Appendix 3
ixCrypto Indexes Dissemination
Real time indexes are disseminated every 5-second interval for 7x24 since 23 June 2022. The real-time indexes are available for viewing on the IX Crypto Index official webpage. For IXCI, IXBI and IXEI, the indexes are also available through Nasdaq Global Index Data Service (GIDS) with the tickers "IXCI", "IXBI" and "IXEI", with dissemination interval kept at 15-second unchanged.
The vendor tickers are shown below:
| Index Name | Bloomberg Ticker | Reuters Ticker |
| ixCrypto Index | IXCI | .IXCI |
| ixBitcoin Index | IXCBI | .IXBI1 |
| ixEthereum Index | IXCEI | .IXEI1 |
For further information about ixCrypto Index and other available indexes including IX Crypto spot price index series, please visit company official webpage https://ix-index.com.
For data licnesning and product, please contact us at licensing@ix-index.com.
For free API use on academic research or trial, please contact enquiry@ix-index.com
Hashtag: #IXAsiaIndexes #ixCryptoIndex
About IX Asia Indexes and IX Index Advisory Committee
IX Asia Indexes is an award-winning index company, providing real-time digital asset and innovative indexes, disseminated 7x24 globally and built on robust infrastructure. Since the launch of the first crypto benchmark index launched in Hong Kong in December 2018, the ixCrypto index series expand into 14 indexes with one market index, 2 single coin indexes and 11 spot price (fixing) indexes. To ensure the professionality and impartiality of the index methodologies and operations, IX Asia Indexes has established its index advisory committee with representation from different industries, including fund management, exchanges, brokerage, financial blockchain experts, crypto service providers, etc. The committee will meet quarterly a year to discuss matters relating to the IX Asia Indexes, including to review and to comment the data sources, methodologies, and operations of IX Asia Indexes, to provide guidance to the future development of new IX Asia Indexes and to handle other issues and decisions on an as-needed basis.
IX Asia Indexes was awarded the Fintech Award (wealth investment and management) 2019 and 2021 organised by ETNet. It as well won an award for Startup of the Year and Basic Technology (Big Data) from Hong Kong Fintech Impetus Awards 2022 by Metro Broadcast and KPMG.
Website: https://ix-index.com/
Advisory Committee: https://ix-index.com/committee.html
About IX Crypto Indexes
The ixCrypto index ("IXCI") is the first crypto index launched in Hong Kong. It was launched on 12 December 2018. It is denominated in USD with a base value of 1000 and a base date on 3 December 2018. Designed to be easy to understand while providing a good representation of the crypto market, ixCrypto index aims to cover the top 80% of the cumulative free-float adjusted market capitalization in the crypto universe and, at the same time, the crypto currencies should fall within the top liquid cryptos ranked by trading volume in the 90 days preceding the review date. The index is to be reviewed quarterly and with a fast entry rule. Real time indexes are disseminated every 5-second for 7X24 since 23 June 2022. Real time index data together with ixBitcoin Index and ixEthereum Index can be obtained from IX Asia Indexes Data Services. For IXCI, IXBI and IXEI, the indexes are also available through Nasdaq Global Index Data Service (GIDS) with the tickers "IXCI", "IXBI" and "IXEI", with dissemination interval kept at 15-second unchanged.
