Coinbase, the well-known cryptocurrency exchange has introduced Coinbase 50 Index (COIN50), a new tool for tracking the crypto market’s performance. Designed as a simple yet comprehensive index, COIN50 represents the top 50 digital assets available on the cryptocurrency exchange, offering investors a streamlined way to monitor the market.
Meet the Coinbase 50 Index (COIN50), a whole new way to track the performance of the cryptoeconomy. https://t.co/cFF7G3YXYr pic.twitter.com/PmxkN9grvv
— Coinbase 🛡️ (@coinbase) November 12, 2024
The COIN50 Index is the latest offering from the crypto exchange’s Asset Management, which brings three years of experience in creating digital asset indices. Developed in collaboration with Market Vector, this index reflects the combined expertise and commitment of both the companies.
Each asset in the COIN50 undergoes cryptocurrencies exchange’s stringent vetting process, ensuring it meets high standards for legal compliance, security and performance. As a result, investors can be confident that the index includes only well-vetted digital assets.
What makes this tool unique is that it is accessible for trading via a COIN50 perpetual future (COIN50-PERP) for eligible institutional and Coinbase Advanced users. This new tool is available exclusively on the International Exchange, although it is restricted to select jurisdiction outside the U.S., U.K., and Canada.
What is Coinbase’s Vision with COIN50?
With COIN50, the cryptocurrency exchange aims to provide a new standard for both retail and institutional investors looking for a simplified way to track the broader crypto market.
As more institutional players turn towards digital assets, COIN50 serves as a significant tool to provide insights into market trends and performance across diversified set of cryptocurrencies.
By introducing COIN50, the cryptocurrency exchange hopes to attract a broader audience to the crypto market, offering a reliable, user-friendly index for crypto community. COIN50 is a step forward in bringing greater transparency and accessibility to the world of digital asset investment.
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Source: https://www.cryptonewsz.com/coinbase-launch-coin50-track-top-digital-asset/