CoinGecko and Maha Advisors has launched a new composite digital currency index that is now available on Bloomberg, Nasdaq GIDS, and Thomson Reuters Eikon.
The composite digital currency index – named the Maha-CoinGecko Digital Asset Index (MAGIX), is a market capitalization weighted Laspeyres index. This index will provide users with the best available benchmark for tracking the evolving digital asset market, as well as providing historical performance data.
MAGIX represents more than 90% of the capitalization of all cryptocurrencies currently in circulation. In order to provide an unbiased view of the market, the index weightings are purely based on current market capitalization.
“We are excited to be launching this product in partnership with Maha Advisors, and we believe that this index will continue to contribute to CoinGecko’s commitment to transparency and the maturation of the digital asset space,” said TM Lee, CEO of CoinGecko.
To be included in the index, a cryptocurrency must first reach a market capitalization dominance of 0.1% of the total free-floating market capitalization for all cryptocurrencies. This inclusion mechanism is similar to how publicly traded companies shares are included in the S&P 500 for the equities market.
In order to adjust for sudden spikes and declines in cryptocurrency market capitalization, the cryptocurrency must first maintain this level of dominance for at least 12 weeks before it is included. Exceptions are applied to stablecoins such as Tether or TrueUSD, whose value is not free-floating.
The index is recalculated every five minutes based on the current market prices and changes in circulating supply. It also tracks more than five years of historically back-tested data.
“We are looking forward to developing investable products related to the index in the future, and we hope that this benchmark provides a meaningful tool for investors and academics alike,” said Chris Flint, Managing Partner of Maha Advisors.
The Maha-CoinGecko Digital Asset Index (MAGIX) is now available on Bloomberg, Nasdaq GIDS, and Thomson Reuters Eikon trading terminals under the index ticker MAGIX. It is also available on both CoinGecko and Maha Advisors websites here:
Maha Advisors: https://www.mahaadvisors.com/index
The full methodology of MAGIX is available here:
CoinGecko aims to provide a 360-degree overview of the cryptoasset market. In addition to tracking cryptoasset price, volume and network value, CoinGecko also tracks fundamental data such as community growth, open-source code development, major events and on-chain metrics. CoinGecko’s objective is to elevate participants’ understanding of the fundamental factors that drive the market. CoinGecko is one of the largest and earliest cryptoasset data aggregators, operating since early 2014. It currently tracks over 4,500 tokens from over 300 exchanges. For more information, visit https://www.coingecko.com.
About Maha Advisors
Maha Advisors provides operational and deal structuring advice to clients in the blockchain community, as well as capital markets access to emerging businesses. We work with management to improve products and services, or pricing to drive growth returns. We then work with our partners to come up with a strategy for accessing capital to best fund the business with a long term view. For more information, visit https://www.mahaadvisors.com.
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