Indian Exchange CoinSwitch Kuber Unveils Crypto Rupee Index
The Crypto Rupee Index (CRE8) will track the performance of the Indian Rupee based on the eight biggest crypto assets.
CoinSwitch Kuber is one of India's most famous crypto exchanges. has started an index that will give real-time information on the performance of the Indian Rupee based on the crypto market.
The Crypto Rupee Index is a first in the Indian market which has previously had to "rely on the international indices based on the US Dollar," tweeted CEO and co-founder Ashish Singhal of CoinSwitch Kuber, he added "These indices do not give the true picture of the indian market and miss the supply-demand dynamics of India's growing investor base"
CoinSwitch Kuber says CRE8 will be refreshed over 1400 times a day to ensure reflection of real-+
time market movement and that it tracks the performance of eight crypto assets that represent over 85% of the total market capitalization of the crypto market traded in the Indian Rupee.
The CRE8 index is based on trades made on the CoinSwitch Kuber app, which the company says has 18 million registered users.
Indian trading volumes have plummeted recently due to a stiff new crypto tax and other development including the rough local launch of crypto exchange Coinbase (COIN) Therefore it is not clear how many of CoinSwitch Kuber's 18 million registered users are still active.
#CRES is a demonstration of our commitment to bring more transparency to the Indian crypto market and equip users with a simple easy to the understanding measure of the Indian market Indian investors and market observed no longer have to second-guess how the Indian crypto market is behaving Singhal.