Mining equipment manufacturer Beatman, to monitor the most important fluctuations in the crypto-market, and launched the cryptoctive price index on November 30 and served as a reference for institutional investors and small business owners.
Index bitmintac pt Ltd Is the sole property and is operated by the Operating Committee of the BitMine Index.BitMen Index Operating Committee Or BIOC), as the company states in a report, in which it adds that to keep the system up-to-date and as representative as possible, it will periodically review and receive feedback from interested parties on the subject.
The new bitmain index will be reviewed monthly Highlight prices of two types: Spot Price (RTP) in real time shows the cash value of each cryptoactive and is updated every second; In addition to the daily reference cost (DRP), which is released once a day (about 10 o'clock, Hong Kong time).
Rates of cryptocurrences are derived from data such as bitfinax, benans, bitstamps, betrayes, hobby, and cranken. Various reasons are considered in these exchange homes, such as prestige, transparency in their prices, compliance, stability and operational dose.
At this moment, the index does not cover all existing tokens, because it only works with 17 most important cryptuctions, according to their market capitalization. In order to be included in the bitmain index, a series of requirements to qualify for cryptocutiences must be mentioned, in which it is mentioned that in addition to being cited in three dollar or more exchange homes, the business must be traded in US dollars.
In that sense, they are excluded The so-called stable cryptocurrency or tokens are implanted in other assets And a special policy for splitting is installed. In this context, the Methodological Report notes that The initial cryptocurrences will give the grace period of 10 days Hard bilingualization O HardFork.
These new tokens should be negotiated in at least 2 exchange houses and there should be at least 200 daily transactions. In addition, the new token negotiation value is not less than 10% of the original token trading price.
The Cryptocurrency Prize Index starts shortly after the launch of the first OTC market index (On Counter) Or an over-the-counter bitcoin, New York investment and financial analyzes company, Winneck's subsidiary, by MV Index Solutions.
New product between disputes
With this product, bitmine Expands its operation radius in the ecosystem And he wants to venture into offers of investment products or basket of cryptocurrences. In early November, the strategy with the introduction of a new anti-mining equipment market This is part of a series of controversies that affect the company this year.
A few days ago, the main Chinese manufacturer of mining equipment had modified the executive structure, including the reconstruction of the company's CEO Jihan Wu.
Likewise, in September last year, Bitman introduced an introductory public offering (IPO) application on the Hong Kong Stock Exchange, which issued controversial information, and confirmed a loss of $ 395 million in the second quarter of 2018. About 2017 net profits have increased in the first quarter.
Featured Image by Colin Cram / stock.adobe.com