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CIX100: Nasdaq Lists AI-powered Crypto Index

October 22, 2019
Ross Peili

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CIX100: Nasdaq Lists AI-powered Crypto Index

One of the world’s largest stock exchange markets by listings and trading volume, Nasdaq has recently implemented the CIX100 on its boards, a cryptocurrency index showcasing the top 100 coins designed and developed by Cryptoindex.com.

The new index is listed alongside traditional indexes such as the famous S&P 500 and the Dow Jones. Cryptoindex says that the crypto index is tailored for Wall Street professionals who seek a fast and comprehensive look into the crypto markets and in real-time.  

Nasdaq has previously implemented various tickers and indexes, but only for a short period of time and under a ‘pilot’ diagram. CIX100 is not just an ad-like digital banner, but it is an index we’ll be seeing on New York’s largest screen on an everyday basis. 






The CIX100 has been previously spotted as used by Reuters News Agency, Bloomberg, and TradingView, among other financial outlets, and it is reportedly the most ‘unbiased’ crypto index, disregarding inflated offerings, with the help of artificial intelligence.

According to the developer Cryptoindex.com, CIX100’s AI-powered algorithm called “Zorax” is able to search through data from over 1800 cryptocurrencies, resulting in a live representation of the crypto market, free of price manipulation agents.  

“We make sure our index includes only cryptocurrencies that have no fake volume, have no manipulation, that come from scrupulous companies,” – CIX100’s Project Manager Kirill Marchenko told CoinDesk in an interview.

If you’re in the scene for some time, you’ll probably remember the inflated prices IOTA and Ripple showcased back in early 2018 due to market manipulation. 

More specifically, while IOTA, and Ripple, in two different scenarios, were trading around $1 per piece in regulated markets, some Russian, and Korean markets were using the local restrictions and obliged-KYC-protocols to skyrocket the price of the mentioned cryptocurrencies into $5 and even $9 per piece in some cases. 

Traders inside Korea could not lay-down their hands-on external cryptocurrency markets such as Binance or Bitfinex, so local monopolies found this arbitrary opportunity handy and made some extra bucks on people’s FOMO, while at the same time they managed to stress the international crypto markets due to CoinMarketCap’s algorithm which would consider every offering as a legitimate candidate for price consideration.

According to Marchenko, some coins must remain among the top 200 cryptocurrencies by market cap for at least three months to be considered by Zorax AI, which is practically based on a series of layers of neural networks, benchmarks, and other aspects considered by the algorithm behind the CIX100 index.