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Post: Wintermute and The Block Partner to Launch GMCI Index, Tracking Top 30 Cryptocurrencies

Wintermute and The Block Partner to Launch GMCI Index, Tracking Top 30 Cryptocurrencies

Key Points:

  • Wintermute, a digital assets market maker, and The Block, a crypto news outlet, are partnering to launch the Global Markets Crypto Intelligence (GMCI) index.
  • The GMCI index will track the price performance of the top 30 cryptocurrencies by market cap, with specific conditions for inclusion.
  • Coins and tokens must be listed on centralized exchanges and supported by reputable custodian services.
  • The top asset in the index will be limited to a maximum weighting of 25% of the index’s total value.
  • Stablecoins will not be included in the index.

Insight:

Wintermute and The Block are collaborating to introduce the GMCI index, a new cryptocurrency market price tracking index. The index will focus on the performance of the top 30 cryptocurrencies by market capitalization. To be included in the index, coins and tokens must meet certain criteria. They need to be listed on centralized exchanges such as Binance, Bitfinex, and Coinbase, and must also be supported by trusted custodian services like BitGo, Coinbase Custody, or Gemini Custody. The tokens must also be listed on popular data platforms CoinMarketCap and CoinGecko. Additionally, compliance with U.S. Know Your Customer and Anti-Money Laundering laws is required for inclusion. The index will not include stablecoins, and the top asset in the index will have a maximum weighting of 25% of the total value.

Hot Take:

The launch of the GMCI index by Wintermute and The Block is a significant development in the cryptocurrency market. By imposing specific conditions for inclusion, such as listing on reputable exchanges and compliance with regulations, the index aims to provide an accurate representation of the top-performing cryptocurrencies. This could enhance transparency and reliability in the industry, making it easier for investors to track and analyze the performance of the market leaders. The exclusion of stablecoins from the index also reflects the focus on cryptocurrencies with more price volatility and market impact.

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