If you’ve ever visited CoinMarketCap’s (CMC) homepage and wondered — how to get into crypto — we have the answer for you.
Today, we’d like to introduce the Binance CMC Cryptocurrency Top 10 Equal-Weighted Index as part of a new index series.
If you’ve ever visited CoinMarketCap’s (CMC) homepage and wondered — how to get into crypto — we have the answer for you. The Binance CMC Index gives you access to trade the top coins in the crypto market in a simple, easy-to-access way.
What makes the Binance CMC Cryptocurrency Top 10 Equal-Weighted Index unique, you ask? Well, each asset in this index is equally weighted and rebalanced on a monthly basis to reflect the most recent market movements . The series begins with the USD-denominated Binance CMC Top 10 Equal-Weighted Index, which tracks the performance of top ten cryptocurrencies by market capitalization— and you can start utilizing this index starting November via Auto-Invest and incorporate it into your investment and trading strategies.
Interested in using CMC data with our API? Register for the CMC API here!
The first ten coins to be tracked by the new index are the following, keeping in mind that the index will be rebalanced each month with the market.
Market cap is calculated by multiplying an asset’s reference price in USD by its current circulating supply. You can check out the top 10 crypto assets on CMC by market cap on our homepage right here.
The Binance CMC Index is just the beginning — Binance will continue to expand their crypto indices in this new Binance CMC Index Series. This index, as well as other Auto-Invest trading indices that will be launched in the near future, will soon be integrated into various Binance products that you know and love.
Key Benefits of the Binance CMC Cryptocurrency Top 10 Equal-Weighted Index:
- Easy to get started with using Auto-Invest
- All 10 token constituents are equally weighted (10% each)
- An excellent easy to use solution to gain exposure to the crypto market
- An useful tool to gain important market insights
- Represents approximately 81% of the overall crypto market capitalization without stablecoins
One of the first ways to use this new index will be via Auto-Invest, which allows users to automate cryptocurrency purchases. This feature allows you to purchase crypto using the dollar-cost averaging (DCA) method.
Create Your Own Auto-Invest Plan With Binance
Binance Auto-Invest will allow you to regularly invest a predetermined amount in cryptocurrency and accumulate your crypto over time. Auto-Investment Plans are similar to DCA-ing in that one opts to buy more regularly.
Pick a coin you want to invest in, decide exactly how much you’d like to purchase to start, and schedule your very own recurring plan.
This index will be available from November 2022, and Binance has plans to expand the scope of their Indexes on Auto-Invest to include more diverse assets across all of the Web3 sectors — until then, you can learn more on the official Binance website here.
Binance, the world’s leading blockchain and crypto provider, has launched a series of new crypto benchmarks that will use CoinMarketCap pricing data. CoinMarketCap is the world’s most-referenced crypto data price tracker: with over 350 million monthly users, we have been bringing crypto data to the masses to help empower them in their financial decisions since 2013.
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