Three indices have been added to the list of available crypto offerings on CMC markets. These indices are designed to introduce ease in crypto trading and offer clients the option to trade in different coins.
The crypto markets seem to be expanding continually and CMC markets is one such case. CMC markets, on Tuesday, announced that they have added three new cryptocurrency indices on their market. The three new indices are Major Crypto Index, Emerging Crypto Index and all Crypto Index. This move has been designed to allow clients of the spread betting and contracts for difference (CFD) provider to be able to engage in more efficient and seamless trading practices. Each index is made up of different forms of major and emerging coins to give a client a choice between the different coin ranges.
These customized indices enable CMC markets to have complete control over the composition of the indices and create a transparent pricing system for the benefit of their clientele. The Major Crypto Index will contain all the top cryptocurrencies such as Bitcoin, Ripple ( XRP), Ethereum, Bitcoin cash, and Litecoin. These are regarded as the prime cryptocurrencies and hence they are grouped under this category by CMC Markets.
The Emerging Crypto Index carries currencies such as Neo, EOS, stellar lumens, TRON, monero, dash and Cardano. This group is where the ‘lesser’ currencies fall and clients of CMC markets can keep track of these currencies without them being overshadowed by the top cryptocurrencies. The All Crypto Index will combine both the Major Crypto Index and the Emerging Crypto Index to show all digital assets. To ensure that no one coin will dominate the rest, the market employs a weighing system. The new indices also give clients exposure to different coins in a single transaction which keeps orders at a minimum and reduces trading costs.
Emergence of Cryptocurrencies In Trading Markets
Over the last few years, it has become quite clear that cryptocurrencies are becoming a major and permanent part of trading markets. Cryptocurrency trading is becoming more widespread and more people are interested in engaging with digital assets. Although interest in cryptocurrencies had waned due to a general slump in their market value, recent months have seen a rise in their prices and this has renewed trader interest in them. Deputy Chief Executive Officer of CMC markets, David Fineberg reflected these sentiments in his comments saying that cryptocurrencies find their way into focus for traders due to the price action over the past few months.
Crypto Trading Is Scaling Up
The number of cryptocurrencies on CMC markets and their continual innovation to make the trading platform better for clients is a reflection of the general increased interest in digital assets. With companies such as Facebook also making moves into the cryptocurrency industry, it is clear that blockchain and cryptocurrencies will soon be in the mainstream. Traders and investors looking to buy cryptocurrencies should make sure they engage in business with accredited and licensed trading platforms because due to the nature of cryptocurrencies, it is easy to fall victim to fraud or scams.