Global Markets Crypto Intelligence Debuts Crypto Price Index

A new crypto market price tracking index, the GMCI 30, debuted today. Here’s everything you need to know.

The joint venture created by The Block and Wintermute announced the launch of its GMCI 30 index, which tracks the price performance of the top 30 crypto assets.

1/ Crypto has a new benchmark 💯

Tracking the performance of the entire industry has just become incredibly simple.

Introducing GMCI — the index provider, crafting comprehensive digital assets indices. ↓ pic.twitter.com/UaC7Omshoe

— GMCI (@gmci_) February 12, 2024

The GMCI 30 Crypto Price Index

Designed to track the top 30 cryptocurrencies by market capitalization, the GMCI 30 will limit the weighting of the leading asset to 25% of the index’s total value. Stablecoins will be excluded.

Cryptocurrencies and tokens must adhere to several requirements to be eligible for GMCI inclusion. Assets must have listings on centralized exchanges like Binance, Bitfinex, Bitstamp, Bybit, Coinbase, Kraken, OKX, or Upbit. Supported custody on BitGo, Coinbase Custody, or Gemini Custody is also required.

Compliance with CoinMarketCap and CoinGecko listing, along with adherence to U.S Know Your Customer (KYC) and Anti-Money Laundering (AML) laws, completes the eligibility criteria.

“GMCI indices are designed to bring transparency and simplicity to this quickly evolving asset class, tracking the performance of the entire industry as well as its sub-sectors is going to become incredibly simple,” GMCI CEO Maarten Botman said in the announcement.

Coin Metrics will provide the data feeds used for index-pricing calculations.

GMCI’s Plans

The GMCI 30 index marks the initial phase in the company’s strategy to provide an array of segment and category-specific indices tailored for digital assets. Following the launch of the flagship index, additional sector indices focused on tracking Layer 1s, Layer 2s, and DeFi protocols are set to be introduced soon.

Additionally, Evgeny Gaevoy, the CEO of Wintermute, and Larry Cermak, the CEO of The Block, will both serve on the board of directors for GMCI.

In an X post before the index’s release, Gaevoy voiced surprise, saying “After examining the top 10 companies by market cap for the first time in years, I honestly don’t understand what all the fuss is about with crypto valuations.”