Binance CoinMarketCap Index Series Starts Tracking Top 10 Cryptos

Starting November 2022, Binance's Top 10 Equal-Weighted Index will be available to investors via Auto-Invest, to track performance of the top 10 cryptocurrencies.

Cryptocurrency exchange Binance has announced that it will launch its first index product, Top 10 Equal Weight Indices, to launch its Binance CoinMarketCap (CMC) index series.

The Top 10 Equal-Weighted Index will monitor the performance of the top 10 cryptocurrencies in the industry by market cap, such as Bitcoin (BTC) and Ethereum (ETH). Binance Indices will use pricing information from CMC Crypto Price Tracker, which the crypto exchange owns.

According to the announcement, the equally weighted index will be rebalanced monthly and is designed to help investors gauge price and performance. Index products, starting with the Top 10 equally weighted indices, will be available to investors from November 2022 through Binance's Auto-Invest service.

Going forward, Binance says the community can expect more from the index series, which will encompass “more digital assets across a diverse set of products.”

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