thecoinrepublic.com
Coinbase, a major publicly traded cryptocurrency exchange, has introduced the COIN50 Index to track top digital assets.
This new index is a selection of the 50 top cryptocurrencies on Coinbase that have undergone a rigorous vetting process.
Coinbase’s launch isn’t just about bringing crypto to millions more. It also supports a strategic effort to grow Coinbase’s role in the maturing crypto ecosystem.
VanEck’s Market Vector has joined forces with me to create the COIN50 Index, which filters assets using a strict process only to include investible assets.
This procedure is good for making the index a more accurate gauge of the market, said Matthew Sigel, head of vanEck digital assets research.
The COIN50 is designed to provide traders and investors with a comprehensive overview of the cryptocurrency market performance.
Coinbase believes the COIN50 Index will provide users with a clearer picture of the overall health of digital asset markets.
This is part of a growing trend, with more traditional Wall Street investors entering the space. This Company wants to provide transparent, easy-to-access benchmarking metrics for digital asset performance to satisfy this need.
Coinbase COIN50 Index and Futures Market
The crypto company will also launch perpetual futures connected to the COIN50 Index. A recent post by Coinbase announced the opening of the COIN50-PERP market, set for 2: November 12, 2024, at 30:00 pm UTC.
This futures product is a higher leverage product, up to 20 x, that can give you more exposure to market movement.
Adding COIN50 perpetual futures could attract more crypto traders who want leverage. Coinbase’s latest offering reinforces its aim of closing the gap between traditional finance and crypto.
The company is expanding its product range to lead crypto market engagement. As a strong bull market continues for digital assets, the launch of the COIN50 Index and its related futures unfolds.
Coinbase enjoys the tailwind of positive market sentiment for cryptocurrencies being embraced by mainstream investors. With the launch of the COIN50 index, Coinbase hopes to become a key reference point in a crypto economy.
Pro-Crypto Election Win Fuels Digital Asset Surge
As Coinbase’s COIN50 Index launch looks to come down the pipeline, the markets in general—from crypto and traditional—continue to see huge advances.
After the recent U.S. presidential election, pro-crypto enthusiasts cheered on Republican candidate Donald Trump becoming the winner.
The political shift has led to a rally in digital asset prices, benefiting cryptocurrencies, Coinbase stock, and the Bitcoin cash implementation test wallet.
Bitcoin enters its second $90K bull run, as analysts predict a rise to $100K by month’s end. Aiming to cross $4,000, Ethereum (ETH) has also seen gains.
Its surge has trickled down to Coinbase stock (COIN), which climbed 20% on November 11, reaching a record high of $318.