Huobi Pro announced that it launches a new cryptocurrency market index for its customers, reported Coindesk on May 23.
The Huobi new market index will on its platform and in real-time track 10 different digital assets traded against USDT.
The investors will see a single general feed, instead of having to check one crypto asset at a time, since the index will “reflect the overall performance of Huobi Pro market.”
The digital assets will be separated into four divisions because the index is using weight samples. Digital asset, platform, application and real asset substitute are the four categories.
The statement explains,
“Assets will be ranked according to their turnover, and top assets of each category will be selected as index samples. After samples are selected, the sample weight will be calculated based on the daily average trading volume of the previous quarter.”
By June 10, Huobi Pro plans to unveil index-based items with its main force index
The exchange also has a contingency plan if an asset is delisted.
“When an unexpected delisting of the index component occurs, the sample is temporarily replaced. And the coins that are ranked first in the candidate list will be selected as the sample coins in turn.”