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Bithumb launches crypto market indices

South Korean crypto exchange Bithumb announced on Wednesday the launch of Bithumb Crypto Index (BTCI) which comprises two separate indices.

“BTCI has been developed in consideration of market representation and liquidity to provide investors with a single indicator that can show the trends of the cryptocurrency market. It consists of Bithumb Market Index (BTMI) and Bithumb Altcoin Market Index (BTAI)”, – detailed the exchange.

BTMI is calculated based on all cryptocurrencies listed on Bithumb while BTAI only takes into account “all non-bitcoin cryptocurrencies” listed on the exchange. The former aims to provide “an overall view of the price changes in the cryptocurrency market” while the latter “a view of the price changes in the cryptocurrency market excluding bitcoin.” The index is calculated real-time and updated every 10 seconds.

As reported earlier today, Bithumb sold stake to the blockchain investment firm BK Global Consortium in $350 million deal.