Leading crypto market data and research company, Brave New Coin (BNC) launched a new platform to track cryptocurrency performance. The platform, BNC-BTSE Composite Index (BBCX) <a href="https://www.prnewswire.com/news-releases/brave-new-coin-and-btse-launch-institutional-grade-index-to-track-real-time-market-performance-of-btc-eth-and-ltc-300947028.html">launched</a> in collaboration with the multi-currency futures exchange, BTSE.

Per the report, BBCX index tracks real-time market performance of three popular cryptos; Bitcoin (BTC), Ether (ETH), and Litecoin (LTC). The BBCX product is the first in the industry to track crypto assets from different pricing sources at sub-second frequency.

The product tracks the performance of a basket of large-cap cryptos by free-float market capitalization on order book data. The data is sourced from five major exchanges, including BTSE, <a href="https://www.cryptoknowmics.com/crypto/bitfinex-files-discovery-application-to-regain-access-to-880-million/">Bitfinex</a>, Bitstamp, Kraken, and Coinbase-Pro. 

The free-float market capitalization expressed in U.S Dollar, determines the weights of each underlying asset, as reported. Meanwhile, the asset weighting begins from each quarter and remains constant throughout the quarter.

The asset weightings for the current quarter are ETH, 33.25%; LTC, 6.75%; as BTC leads with BTC, 60%. These indexes rebalance on a quarterly basis, to reflect the underlying assets' market performance.
<h2>BBCX index as an Effective Market Tool</h2>
According to the comment of the CEO and Founder of Brave New Coin, Fran Strajnar:

"As one of the first indexes in the world to track an array of crypto assets across a number of exchanges, this is not only a key milestone for BNC, as we continue to be a go-to source for real-time, accurate data but for the industry as a whole."

BNC's and BTSE's index futures allow digital currency traders to speculate on the direction of the market. "They provide portfolio managers an effective tool to hedge out beta risk," BTSE's Chief Product Officer, Brian Wong said.

"Joining forces with BTSE, an industry leader to equip traders, investors, and analysts throughout the industry with the right tools to make informed and educated decisions, is another step forward to an advanced industry," Strajnar added.

Brave New Coin Launch BBCX Index to Track BTC, ETH, and LTC

Ibiam Wayas is an optimistic crypto news reporter who also enjoys tech writing. He is an introvert who spends much of his time on the internet studying facts that will help him excel in the digital/cryptocurrency space.

Brave New Coin Launch BBCX Index to Track BTC, ETH, and LTC

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