You Won’t Believe What CoinDesk Did Next! 🤯

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What to know: 🤔

  • CoinDesk Indices debuts the CoinDesk 80 Index to cater to the growing demand for diversified exposure. 🤑
  • Bullish Exchange has launched perpetual futures tied to the new offering. 🤖

In a move that would make even the Patrician of Ankh-Morpork raise an eyebrow, CoinDesk Indices, a subsidiary of CoinDesk, has introduced the CoinDesk 80 Index. This new offering is designed to track the performance of the next 80 digital assets beyond the CoinDesk20 Index, catering to the growing demand for liquidity across diverse crypto assets. 💸

The Bullish exchange, which has surpassed $1 trillion in cumulative trading volume since its inception in November 2021, has listed a perpetual futures contract tied to the new index under the ticker CD80/USDC-PERP. Bullish, the parent company of CoinDesk, is clearly on a mission to dominate the crypto derivatives market. 🤖

The index currently counts crypto market makers GSR and STS Digital among its clients, who are excited about the “broader opportunity this brings to expand liquidity, empower informed trading strategies, and further the maturation of the crypto ecosystem.” 🤑 As if the crypto world wasn’t already a wild ride, now we have a new index to keep us on the edge of our seats. 🎢

With rising demand from institutional investors for digital assets derivative markets, the CoinDesk 80 Index Perpetual Future will enable traders to efficiently manage market exposure arising from their wide-ranging altcoin option offering. 🤑 It’s like a never-ending game of crypto-musical chairs, and we’re all just hoping to find a seat before the music stops. 🎶

Key features of the CoinDesk 80 Index include a focus on liquid and large-market assets, with minimal exclusions for stablecoins and wrapped tokens alongside comprehensive liquidity screening. The index constituents are weighted by market cap, with a 5% cap per asset to ensure diversification. 🤯 It’s like a crypto-themed version of the Discworld’s Unseen University, where the only constant is change. 🤖

“The demand for index products is growing as digital assets become an established part of global financial markets,” said Tom Farley, CEO of Bullish. 🤑 And if there’s one thing we know about the crypto world, it’s that it’s always full of surprises. 🎢

A year ago, CoinDesk Indices debuted the CoinDesk20 Index, a benchmark for larger-cap digital assets. Since then, it has seen over $12 billion in total trading volume and is linked to a dozen investment products globally. 💸 It’s like a never-ending game of crypto-Cripple Mr. Onion, where the stakes are always high and the rewards are even higher. 🤑

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2025-01-21 18:09