Is Nasdaq the future a cryptocurrency exchange? Officially announced the addition of the Ripple Coin (XRP) Liquidity Index

Nasdaq, the stock exchange operator, has added a new cryptocurrency index – this time the world's third-largest cryptocurrency, XRP.

Stock-1863880_1280

Image source: pixabay

NASDAQ announced on Monday that it will provide "real-time" index information for XRP from May 1st through cooperation with New Zealand blockchain data and research company Brave New Coin.

Specifically, the XRP Liquidity Index (XRPLX) will provide a spot or reference exchange rate for the price of XRP, denominated in US dollars, and “based on the most liquid end of its market”.

Brave New Coin said in another statement: “XRPLX only gets data from the most liquid exchanges (calculated by volume and order depth).”

"Currently XRPLX member exchanges include Bitfinex, Bitstamp, Poloniex and Kraken, and Coinbase data will be added in the next evaluation."

The new data stream will be available on the NASDAQ Global Index Data Service (GIDS), a comprehensive data feed for NASDAQ. Nasdaq said that the index contains data since 2014 and is updated every five minutes.

The company added that the index was calculated according to the “independent audit” approach of the International Organization of Securities Commissions (IOSCO).

Nasdaq partnered with Brave New Coin for the first time earlier this year to include Bitcoin (BTC) and Ethereum (ETH) indices in its global data services.

Last month, Nasdaq also began offering two benchmark indices covering the top 200 cryptocurrencies with one market value—one containing bitcoin and the other without bitcoin—using data from CoinMarketCap.

We will continue to update Blocking; if you have any questions or suggestions, please contact us!

Share:

Was this article helpful?

93 out of 132 found this helpful

Discover more

Blockchain

The money was not earned, and the head was almost bald: interview with the boss of the startup exchange

Currently, one of the most profitable industries in the cryptocurrency sector is the exchange. According to The Block...

Blockchain

Why is the bitcoin trading volume of Korean first-tier exchanges difficult to recover?

Source: LongHash As the country with the third-largest crypto exchange in daily trading volume (after the United Stat...

DeFi

FTX Drama: Scandals, Shocks, and a Crypto Crash!

Sam Bankman-Fried's fashion reputation takes a hit as Caroline Ellison's testimony proves unfavorable.

Blockchain

Deep Dive into Uniswap V4: A "Masterpiece" of Decentralized Exchange

Updates to Uniswap V4 could further enhance its position in the DEX space, with the "hooks" feature greatly improving...

Blockchain

Fake foreign exchange platform to enter the currency circle: reverse shouting, tampering with data, investors become the biggest victims

After the spread of money and funds, there has been a new routine in the currency circle – a false exchange. Pu...

Blockchain

Can the combination of decentralized derivative exchanges and account abstraction open up the next incremental entry point?

How much will the target audience expand if decentralized contract exchanges can be logged in using Google accounts?