Index Financial News

A measure of mortgage applications fell to their lowest level in 22 years last week, another sign the U.S. housing market is coming back to Earth after a red-hot two-year stretch.

CoinSwitch has unveiled Crypto Rupee Index CRE8, to measure the performance of the Indian Rupee-based crypto market, the company said on Friday. The Crypto Rupee Index tracks the performance of crypto assets that represent over 85 per cent of the total market capitalisation of cryptocurrencies traded in Rupee, a press release said. «The index is based on real trades on the CoinSwitch application, which has 18 million registered users,» the release said.

CoinSwitch app has over 18 million registered users and the index is based on real trades done by them.

Crypto investing app CoinSwitch on Thursday launched the Crypto Rupee Index (CRE8), India’s first benchmark index to measure the performance of the Indian Rupee-based crypto market. «Owned and administered by CoinSwitch, CRE8 tracks the performance of eight crypto assets that represent over 85 per cent of the total market capitalisation of cryptos traded in Indian Rupee. The index is based on real trades on the CoinSwitch app, trusted by 18 million registered users,» the company said. “CRE8 is a demonstration of our commitment to bring more transparency to the crypto market and equip users with a simple, easy-to-understand measure of the Indian market. The index provides a trustworthy, real-time view of the Indian rupee-denominated crypto market based on actual trades, enabling Indian users to make informed investment decisions,” said Ashish Singhal, Co-founder and CEO, CoinSwitch.

The U.S. dollar index (DXY) retreated broadly from its prevailing bull run in the past two weeks, dropping by up to 3.20% after hitting its two-decade high of 105.

While Bitcoin continues to perform within a tight range, attention is now shifting towards the U.S dollar. This is particularly due to the Dollar index’s impressive rally over the last few months, one which saw it rally to its highest levels in 20 years. However, it is currently showing signs of weakness. This has led many to wonder whether the Dollar index’s bearish correction may trigger a Bitcoin rally.

Bitcoin (BTC) has fallen by over 67% in 2022 and is now wobbling between a tight trading range defined by $28,000 as interim support and $30,500 as interim resistance.

Bitcoin (BTC) returned to $30,500 on May 17 amid hopes that a retest of 2017 highs could be avoided.

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Less expensive cities with strong local economies climbed The Wall Street Journal/Realtor.com Emerging Housing Markets Index in the first quarter, another sign that many home buyers are giving priority to affordability.

Crypto asset management platform, Mudrex, has registered a 2,400 per cent increase in its user base for the first quarter of 2022, making it the largest crypto index investing platform. Indian users contributed the most to this growth with a contribution of more than 80 per cent. Founded in 2018, Mudrex curates investment solutions and automates investing products for the average investor for long-term wealth creation. Y-combinator backed Mudrex is known for its systematic approach to familiarizing crypto investments, with a decent product portfolio including Mudrex Coin Sets.

The month of March 2022 was very profitable for the crypto market as most of the coins saw a significant recovery. Notably, the recovery wasn’t limited to the spot market but also to the DeFi market.

BlackRock, the world's largest asset manager, said it stopped trading Russian securities across its funds earlier this week.

BlackRock, the world's largest asset manager, said it stopped trading Russian securities across its funds earlier this week.

As Russia's president Vladimir Putin ordered a full-scale invasion of Ukraine, and Bitcoin (BTC) might play a role on both sides of the conflict, Ukraine is seemingly better prepared to embrace the nascent monetary technology.

Switzerland-based fund manager Compass Financial Technologies has launched an index for 10 Decentralized Finance (DeFi) tokens dubbed the “Compass Crypto Basket Fundamental DeFi Index” (CCBFDEFI).

Kazakhstan, one of the world’s top Bitcoin (BTC) mining locations, is likely to lose its BTC hash rate share leadership in the next hash rate distribution update, according to industry experts.

Mumbai: In a first for an Indian entity, several domestic as well as foreign crypto exchanges are in talks with CryptoWire, a Financial Technologies Group entity, to launch products based on its IC15 index. IC15, which tracks the top cryptocurrencies around the world in terms of their market capitalisation, is the first crypto index to come out of India. Several Indian and international exchanges have approached CryptoWire for licensing its IC15 index to launch products on their exchanges based on this benchmark, CryptoWire MD & CEO Joseph Massey said. IC15 index was launched on January 3 this year. It is a rule-based broad market index by market capitalisation that tracks and measures the performance of the top 15 widely traded liquid cryptocurrencies listed on leading crypto exchanges of the world, a company release had noted during its launch. Apart from introducing simple index-based products like exchange-traded funds, many other investment products are expected to be developed based on the IC15 index, officials said. Presented ByDid you Know?A statue honour

Cities on Florida’s west coast climbed to the top of The Wall Street Journal/Realtor.com Emerging Housing Markets Index, boosted by the growth of remote work and warm weather in the Sunshine State.

U.S. equities futures were little changed Wednesday after another choppy trading session as investors remained cautious amid rising rates and the Nasdaq dipped into correction territory.

IC15 will monitor the performance of the 15 most-traded crypto coins in the world.