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Cryptocurrency Index (CRIX)

CRyptocurrency IndeX (CRIX) is a benchmark for the crypto-currency market.

A collaboration project from Humboldt University Berlin Germany, SKBI at Singapore Management University, and budapesht.

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More Info: CRIX Website | Methodology
# Coin Price ($) Market Cap (000 $) Volume (000 $)
1 BTC 14839.59 248,925,603 2,921,203
2 XRP 2.28 88,326,800 4,654,810
3 ETH 774.7 74,906,560 1,127,368
4 BCH 2537.08 42,842,786 697,825
5 ADA 0.77 19,902,517 312,335
6 LTC 237.57 12,961,886 411,317
7 IOT 3.81 10,585,384 97,508
8 XEM 1.08 9,726,297 42,438
9 DASH 1082.02 8,425,658 132,405
10 XLM 0.36 6,387,241 180,932
11 XMR 353.52 5,496,114 81,169
12 NEO 80.81 5,252,550 143,210
13 EOS 8.97 5,159,781 257,896
14 QTUM 62.37 4,600,948 688,358
15 XVG 0.25 3,568,414 1,023,112
16 BCC 428.02 2,649,310 21,584
17 ETC 26.11 2,579,479 97,855
18 LSK 21.78 2,537,503 63,366
19 BTM 2.42 2,389,445 60
20 OMG 19.95 2,035,259 357,482
21 BTS 0.69 1,791,047 21,382
22 ARDR 1.73 1,728,619 35,350
23 PPT 40.95 1,515,330 2,342
24 ZEC 506.83 1,499,082 96,058
25 STRAT 14.9 1,470,417 28,487
26 USDT 1.01 1,384,972 1,929,950
27 WAVES 12.66 1,266,130 51,050
28 BCN 0.01 1,148,593 8,974
29 DOGE 0.01 1,078,013 46,903
30 KMD 9.93 1,031,968 13,610
31 SC 0.03 1,008,185 27,338
32 BNB 9.21 911,813 51,597
33 SNT 0.24 849,324 54,331
34 STEEM 3.24 798,616 4,688
35 REP 70.52 775,724 5,900
36 NXT 0.75 749,288 197,444
37 SALT 13.61 737,869 35,626
38 DGB 0.07 711,663 50,318
39 GNT 0.84 702,635 34,303
40 ARK 7.03 688,477 12,370
41 VERI 335.92 684,156 1,236
42 DCR 101.65 657,343 3,345
43 PIVX 10.47 578,727 6,067
44 MONA 10.26 578,695 4,733
45 FCT 60.45 528,601 35,949
46 ZRX 0.97 462,294 23,004
47 BTCD 347.59 447,990 643
48 BAT 0.44 441,490 20,022
49 GBYTE 682.21 440,174 980
50 PAY 4.14 433,390 22,728
51 MAID 0.95 429,761 8,623
52 XZC 112.56 425,869 14,852
53 SYS 0.80 422,764 10,209
54 FUN 0.09 368,273 91,976
55 KNC 2.74 367,598 9,499
56 SAN 5.66 342,510 2,554
57 STORJ 2.56 338,917 67,607
58 CVC 0.93 317,557 18,908
59 DGD 157.1 314,196 4,139
60 VTC 7.13 301,539 7,567
61 GAS 32.42 296,210 9,809
62 ICN 2.74 273,445 6,404
63 GAME 4.17 268,088 3,624
64 GNO 221.64 244,818 2,566
65 BLOCK 46.16 228,526 556
66 BNT 5.56 226,899 5,843
67 ZEN 65.14 188,891 7,396
68 NXS 3.38 185,101 682
69 EMC2 0.83 179,630 5,289
70 PART 22.22 173,877 1,574
71 SNGLS 0.26 154,390 6,597
72 MTL 7.99 154,309 10,961
73 PPC 4.78 117,340 1,051
74 BTG 4.93 82,479 3
75 LKK 0.23 60,357 72

What is CRIX?

The CRyptocurrency IndeX (CRIX) is a benchmark for the crypto-currency market.

With the growing amount of crypto-currencies and the diminishing domination of Bitcoin in the market, an index became necessary to track its development on the exchanges like the S&P500 does the same for the US stock market.

Commonly, a fixed amount of index constituents is chosen to represent the market. The chosen assets are allowed to change, based on transparent rules, but it happens in the big markets seldom.

But the market of crypto-currencies is different from fiat asset markets on many levels. One important difference is the frequently changing market structure. Due to the frequent changes a fixed number of constituents is a difficult choice.

For this reason, a team of researchers from Humboldt University at Berlin developed a methodology to amend the number of constituents in case the current market situation requires more crypto-currencies for an adequate representation of the market development.

The CRIX is realtime computed by the Ladislaus von Bortkiewicz Chair of Statistics at Humboldt University at Berlin, Germany. The development was a joint work together with SKBI at Singapore Management University and budapesht, who provide the data for the computation.

Methodology

  1. CRIX Formula: CRIX is a market capitalization weighted index. This means the weight of a cryptocurrency in CRIX depends on its market capitalization compared to the other cryptocurrencies in CRIX.
  2. Reallocation of the number of constituents: Every 3 month the development of the cryptocurrency market in the last 3 month is evaluated. It is checked how many of the top cryptocurrencies need to be part of CRIX to ensure a close fit to the market development. Due to the very volatile behavior of the cryptocurrency market and the frequent market structure changes, this approach showed to be effective. In case of a necessary change, the number of constituents is amended. A related approach is used for the well known CRSP indices for the US stock market.
  3. Ranking for constituents in CRIX: At the end of every month, the selected constituents are reallocated. The cryptocurrencies with the highest market capitalization are chosen and their weight in CRIX correspond to the share of the total market capitalization of all cryptocurrencies in CRIX.
  4. The number of constituents in CRIX is always a number evenly dividable by 5. Therefore, CRIX can contain 5, 10, 15, … constituents. The higher the number, the more cryptocurrencies are necessary for an adequate market representation.
  5. CRIX is constructed such that only price changes of a cryptocurrency cause a change of the index development. CRIX neither reacts to an increase in the number of available coins nor to the inclusion of a new cryptocurrency into the index.
  6. Reallocation: The reallocation period of the CRIX is 1 month to ensure that the index is always up to date. This period is taken rather short such that the CRIX can react faster to changes in the crypto market.
  7. Special events:
    a. If the price of a cryptocurrency is not available from the exchanges due to any reason, CRIX is made insensitive to this event such that the development of CRIX is not affected by this situation.
    b. If a cryptocurrency vanishes from the market while being part of CRIX, CRIX is made insensitive to this cryptocurrency until the next reallocation date. Then the corresponding cryptocurrency will be kicked out of CRIX.
  8. For more details about the CRIX methodology and research papers conducted on CRIX, please see the paper and the website.

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