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Bloomberg terminal, a top financial platform, is a computer system software that enables professionals in the financial sector and other sector to access, monitor and analyze real time financial market data, news, price quotes and trades. They had Huobi 10 index (https://www.huobi.pro/huobi_index/) mentioned last week at on it's platform. Huobi 10 index which was recently launched on the 23rd of May, 2018 is a product of the proprietary research and development department of Huobi Group. It has attained the tremendous success to be the first blockchain related index to be mentioned on bloomberg terminal.
Huobi, a world leading cryptocurrency financial service group, founded Huobi Pro with a mission to employ the advantage of the blockchain technology in order to make the financial industry more efficient and also to make wealth accessible to everyone. Huobi Pro is a world famous exchange, an international platform for multi digital currency trading with the use of a strong sophisticated smart chain evaluation.
HUOBI 10 Index works by selecting 10 top-traded digital assets with high market value and strong liquidity. On a collective scale, the index gives a bird eye view on the market performance of Huobi Pro in terms of USDT. As earlier mentioned, the unique product is designed by Huobi Group. It is a combination of asset classification and weighted average calculation method. Starting with a base point of 1000, performance depends on the last quarter transaction volume of the constituents.
Reasons why Huobi 10 Index is achieving this height is not far fetched, the Huobi 10 index consists of professionally and analytically listed 10 Coins. The selection is judged based on higher market value, larger scale and better circulation which enhances the overall performance in terms of USDT. This means that the list is a combination of coins based on asset classification and the average calculation method which considers the last quarter transaction volume with a base point of 1,000. The list space is categorized into four parts according to the blockchain assets classification. They are the Huobi Coin, whose main function is for transaction, the Huobi Platform which is the assets that connects with the underlying blockchain technology which allows participation on the platform, the application coin which refers to the assets associated with a particular application case for dividends and participation and the real assets token which refers to digital currencies linked to strong currencies/assets like Gold, USD, etc. The Index allows investors and traders to view the aggregated feed on a single file thereby eliminating the stress of viewing the individual coin's feed.
The weightage of the Huobi 10 index is rested solely on the top 5 coins, BTC, HT, EOS, ETH, BCH. A new exciting product of Huobi is the HB10 that tracks the activity of the Huobi10 index to aid efficiency, reliability and accuracy. It is designed to fully replicate the Huobi10 index which will be rebalanced based on the constituents coin trading pairs. HB10 offers interchangeability with other digital assets hashed by Huobipro. The tracker aims to track the Huobi10 index with the barest minimum tracking error, the error will be track to 0.2%. The product is a good aid to traders and investors interested in the blockchain technology to trade the broad digital wealth market.
Huobi 10 Index is currently trading at 913, that is 8.7% down it's starting base of 1000. Investors and traders can also find Huobi on secondary trading market. HB10 offers interchangeability with other digital assets hashed by Huobipro. Here is a brief look at how Huobi 10 Index has performed compared to other assets. Bitcoin which is currently trading at $6227 at the time of this writing is 14% lower than the price of $7557 on 23 May 2018. Ethereum which is currently trading at $475 at the time of this writing is 13% lower than the price of $583 on 23 May 2018.
Bitcoin Cash has the highest downward rate of 24% from $1122 on 23 May 2018, to $773 as at the time of this writing. Overall, Huobi 10 Index has been less volatile compared to any of the above assets. In addition, early this month, Huobi launched the cryptocurrency ETF HB10 which tracks the performance of HUOBI 10 Index.
You can set up a free Huobi Pro account in minutes. (https://www.huobi.br.com/en-us/topic/invited/?invite_code=da523)