Results of the ixCrypto Index Series Quarterly Review (2024 Q3)
- Written by Media Outreach
1. Constituent Review – ixCrypto Index Series
1.1. ixCrypto Index ("IXCI") The number of constituents decreased to 19 with no addition and 6 deletions.
Addition No addition
Deletion 1. Internet Computer 2. Ethereum Classic 3. Render 4. Hedera 5. Mantle 6. Cosmos
After the change, the free float adjusted market capitalization coverage is 81.26%*, while the 90-day-average volume is 78.68%* (excluding stable coin which has 7.39% of the total crypto universe). The constituents change above and recapping at 40% will be effective on 18 October 2024 (Friday).
Since the last review, there has been a decrease in the crypto total market capitalization from USD2.42tn to 2.17tn (-10.24%)#, and a decrease in the daily volume from USD78.56bn to 71.42bn (-7.34%)#. Bitcoin remains as the largest crypto in the constituent list, with its price has increased by 7.80% since the last review.
1.2. ixCrypto Portfolio Indexes
1.2.1. ixCrypto 5 Equal Weight Index ("IXEW5") and ixCrypto 5 Square Root Index ("IXSR5")
Addition No addition
Deletion No deletion
1.2.2. ixCrypto 10 Equal Weight Index ("IXEW10") and ixCrypto 10 Square Root Index ("IXSR10").
Addition No addition
Deletion No deletion 1.2.3. ixCrypto Altcoin 10 EW Index ("IXAEW10") and ixCrypto Altcoin 10 SR Index ("IXASR10").
Addition No addition
Deletion No deletion
1.3. ixCrypto BTC/ETH Indexes
There has been no constituent change to ixCrypto BTC/ETH 5050 Index ("IX5050") and ixCrypto BTC/ETH Proportional Index ("IXPI") since their launch on 9th May 2024
2. Constituent Review- IX Digital Asset Industry Index Series 2.1 ixCrypto Stablecoin Index
The number of constituents will remain unchanged. Stable coin comprises 7.39% of the total crypto universe, and ixCrypto Stablecoin Index covers around 98.80% of the 90-day average market capitalization in stablecoin universe.
Addition No addition
Deletion No deletion 2.2 ixCrypto Infrastructure Index
The number of constituents will remain unchanged as 21 constituents.
Addition No addition
Deletion No deletion
3. Exchange Review
As a result of exchange review, 10 exchanges passed the review process, which are as follows:
Passed Exchanges* 1. Binance 2. WhiteBIT (New) 3. Huobi Global 4. OKX 5. Coinbase Advanced## 6. Gate.io 7. P2B 8. BitGet 9. DigiFinex 10. Upbit
*While MEXC passed the volume coverage criteria and ranked 23, Hong Kong SFC has issued a warning against MEXC, so MEXC was excluded. ##Coinbase changed its name to Coinbase Advanced in Q2 2024
Removed Exchanges 1. Bitrue
The selected 10 exchanges will be taken to generate each of the fair average prices for the IX indexes' constituents. The exchange review covers volume rankings, exchange background checking, founders' background checking, USDT/USDC/BTC pairs coverage, overconcentration rules, exchange API coverage checking and stability etc for an exchange.
For more details about our exchange selection criteria, please email info@ix-index.com
More details about the ixCrypto index, including their constituents, constituents' weight are provided in the Appendices, or refer to the website https://ix-index.com/
*Exclude stable coins and exchange coins (based on conflict of interest rule methodology effective Oct 2, 2020) #As of 30 September 2024, based on past 90 days average
Appendix 1
ixCrypto Index ("IXCI")
| Universe | All crypto coins traded in at least two different exchanges around the world |
| Selection Criteria | Cryptocurrencies ranking in the top 80% of cumulative full market capitalization ("MC") coverage and within an acceptable range in accordance with the Volume Buffer Rule in terms of 90-day average trading volume |
| Number of Constituents | Variable/19 in Q3 2024 |
| Launch Date | 12th December 2018 |
| Base Date | 3rd December 2018 |
| Base Value | 1,000 |
| Reconstitution Rule | If the coverage is below 75% or any of constituents is not within an acceptable range in accordance with the Volume Buffer Rule in terms of 90-day average trading volume, IXCI will be reconstituted to bring MC coverage back and do liquidity screening. |
| Reconstitution and Rebalancing Frequency | Quarterly and with a fast entry rule |
| Weighting Methodology | Free float adjusted market capitalization weighted with a cap of 40% |
| Currency | US Dollar |
| Dissemination | Every 5 seconds for 24x7 |
| Website | https://ix-index.com/ |
| Bloomberg | IXCI <GO> |
Appendix 2
Weightings of the Constituents of ixCrypto Index
| Crypto | 90-day-average- Market Cap | 90-day-average-volume * | Cut-off Price | Cumulative Market Coverage before Cap | Weighting (%) After 40% Cap# | |
| 1 | Bitcoin | $1,203,949,453,351.18 | $31,255,973,738.23 | 65635.31 | 55.49% | 40.00% |
| 2 | Ethereum | $335,775,939,213.56 | $16,007,034,574.41 | 2659.35 | 70.97% | 34.14% |
| 3 | Solana | $69,148,664,926.44 | $2,684,709,785.10 | 158.63 | 74.16% | 7.93% |
| 4 | XRP | $31,475,540,915.10 | $1,447,235,350.92 | 0.64 | 75.61% | 3.88% |
| 5 | Dogecoin | $16,007,647,724.65 | $730,027,877.56 | 0.12 | 76.35% | 1.95% |
| 6 | Toncoin | $15,751,114,015.99 | $360,248,768.75 | 5.85 | 77.07% | 1.58% |
| 7 | Cardano | $13,268,045,192.77 | $305,181,132.30 | 0.40 | 77.68% | 1.48% |
| 8 | TRON | $12,316,597,178.05 | $386,516,183.01 | 0.16 | 78.25% | 1.45% |
| 9 | Avalanche | $9,980,635,850.78 | $304,083,701.47 | 29.07 | 78.71% | 1.26% |
| 10 | Shiba Inu | $8,927,399,860.63 | $296,290,072.49 | 0.00 | 79.12% | 1.22% |
| 11 | Polkadot | $7,319,429,822.89 | $152,016,821.61 | 4.77 | 79.46% | 0.76% |
| 12 | Chainlink | $7,190,836,519.45 | $265,711,842.12 | 12.48 | 79.79% | 0.83% |
| 13 | Bitcoin Cash | $6,886,452,865.54 | $247,692,948.89 | 352.86 | 80.11% | 0.74% |
| 14 | NEAR Protocol | $5,201,085,555.72 | $257,137,698.85 | 5.50 | 80.35% | 0.68% |
| 15 | Litecoin | $4,952,114,590.36 | $298,536,285.13 | 69.31 | 80.58% | 0.55% |
| 16 | Uniswap | $4,178,803,142.01 | $123,869,536.32 | 7.45 | 80.77% | 0.48% |
| 17 | Pepe | $3,772,259,874.65 | $750,199,459.14 | 0.00 | 80.94% | 0.51% |
| 18 | Polygon | $3,758,644,840.77 | $194,086,540.47 | 0.42 | 81.12% | 0.13% |
| 19 | Aptos | $3,130,849,123.77 | $125,514,411.33 | 8.08 | 81.26% | 0.43% |
* 90-day-average-volume ranking in total market is shown in the parentheses # Weighting (%) after 40% Cap is adjusted according to the cut-off price, the arrangement of order may not be the same as 90-day-average-Market Cap Selection of index constituents is based on the past 90-day-average market capitalization and volume. For the calculation methodology of the index, please refer to the “ixCrypto Index Methodology Paper” on our website
Appendix 3
Weightings of the Constituents of ixCrypto Portfolio Indexes
| Index Constituents | ixCrypto 5 EW Index | ixCrypto 5 SR Index | ixCrypto 10 EW Index | ixCrypto 10 SR Index | ixCrypto Altcoin 10 EW Index | ixCrypto Altcoin 10 SR Index | |
| 1 | Bitcoin | 20.00% | 49.45% | 10.00% | 39.62% | - | - |
| 2 | Ethereum | 20.00% | 24.57% | 10.00% | 19.68% | 10.00% | 31.08% |
| 3 | Solana | 20.00% | 11.85% | 10.00% | 9.49% | 10.00% | 14.98% |
| 4 | XRP | 20.00% | 8.27% | 10.00% | 6.63% | 10.00% | 10.47% |
| 5 | Dogecoin | 20.00% | 5.86% | 10.00% | 4.70% | 10.00% | 7.42% |
| 6 | Toncoin | - | - | 10.00% | 4.24% | 10.00% | 6.68% |
| 7 | Cardano | - | - | 10.00% | 4.10% | 10.00% | 6.48% |
| 8 | TRON | - | - | 10.00% | 4.05% | 10.00% | 6.40% |
| 9 | Avalanche | - | - | 10.00% | 3.78% | 10.00% | 5.97% |
| 10 | Shiba Inu | - | - | 10.00% | 3.71% | 10.00% | 5.87% |
| 11 | Polkadot | - | - | - | - | 10.00% | 4.65% |
| 90-day-average Crypto Market Cap | 90-day-average Crypto Volume | Index Level | CumulativeMarket Cap Coverage | Weight in BTC/ETH 50/50 | Weight in BTC/ETH Proportional | |
| IXBI | $1,203,949,453,351 | $31,255,973,738 | $15,846.66 | 55.49% | 50.00% | 78.19% |
| IXEI | $335,775,939,213 | $16,007,034,574 | $22,813.93 | 70.97% | 50.00% | 21.81% |
Weightings of the Constituents of ixCrypto Infrastructure Index
| Crypto | 90-day-average- Market Cap | 90-day-average-volume * | Cut-off Price | Cumulative Market Coverage before Cap | Weighting (%) After 40% Cap# | |
| 1 | Ethereum | $335,775,939,214 | $16,007,034,574 | $2,659.35 | 15.48% | 40.00% |
| 2 | Solana | $69,148,664,926 | $2,684,709,785 | $158.63 | 18.66% | 22.08% |
| 3 | Toncoin | $15,751,114,016 | $360,248,769 | $5.85 | 19.39% | 6.38% |
| 4 | Cardano | $13,268,045,193 | $305,181,132 | $0.40 | 20.00% | 4.68% |
| 5 | Avalanche | $9,980,635,851 | $304,083,701 | $29.07 | 20.46% | 3.73% |
| 6 | TRON | $12,316,597,178 | $386,516,183 | $0.16 | 21.03% | 3.73% |
| 7 | Polkadot | $7,319,429,823 | $152,016,822 | $4.77 | 21.37% | 2.98% |
| 8 | Chainlink | $7,190,836,519 | $265,711,842 | $12.48 | 21.70% | 2.80% |
| 9 | NEAR Protocol | $5,201,085,556 | $257,137,699 | $5.50 | 21.94% | 1.85% |
| 10 | Polygon | $3,758,644,841 | $194,086,540 | $0.42 | 22.11% | 1.84% |
| 11 | Internet Computer | $3,845,019,905 | $83,276,542 | $9.55 | 22.29% | 1.26% |
| 12 | Ethereum Classic | $2,974,110,262 | $132,925,021 | $20.45 | 22.43% | 1.16% |
| 13 | Aptos | $3,130,849,124 | $125,514,411 | $8.08 | 22.57% | 1.06% |
| 14 | Hedera | $2,139,830,861 | $45,123,301 | $0.06 | 22.67% | 0.93% |
| 15 | Mantle | $2,147,710,411 | $128,473,050 | $0.64 | 22.77% | 0.87% |
| 16 | Cosmos | $2,012,699,181 | $114,306,273 | $5.03 | 22.86% | 0.88% |
| 17 | Stacks | $2,409,418,704 | $87,731,286 | $1.97 | 22.97% | 0.82% |
| 18 | Arbitrum | $2,072,508,205 | $203,854,573 | $0.65 | 23.07% | 0.86% |
| 19 | VeChain | $1,988,018,797 | $25,124,634 | $0.03 | 23.16% | 0.71% |
| 20 | Optimism | $1,814,262,743 | $166,200,092 | $1.90 | 23.24% | 0.66% |
| 21 | Injective | $1,957,787,768 | $97,877,674 | $23.26 | 23.33% | 0.72% |
* 90-day-average-volume ranking in total market is shown in the parentheses # Weighting (%) after 40% Cap is adjusted according to the cut-off price, the arrangement of order may not be the same as 90-day-average-Market Cap Selection of index constituents is based on the past 90-day-average market capitalization and volume. For the calculation methodology of the index, please refer to the "ixCrypto Index Methodology Paper" on our website
Appendix 6
Weightings of the Constituents of ixCrypto Stablecoin Indexes
| Crypto | 90-day-average- Market Cap | 90-day-average- volume | Cut-off Price | Cumulative Market Coverage before Cap | Weighting (%) After 40% Cap | |
| 1 |
Tether
USDt |
$116,110,013,637 | $54,622,807,482 | $1.00 | 5.35% | 40.00% |
| 2 | USDC | $34,559,486,578 | $5,924,023,411 | $1.00 | 1.59% | 40.00% |
| 3 | Dai | $5,356,196,398 | $168,664,454 | $1.00 | 0.25% | 13.10% |
| 4 | First Digital USD | $2,363,928,254 | $4,418,452,757 | $1.00 | 0.11% | 6.90% |
Appendix 7
ixCrypto Indexes Dissemination
Real time indexes are disseminated every 5-second interval for 24x7 since 23 June 2022. The real-time indexes are available for viewing on the IX Crypto Index official webpage. For IXCI, IXBI and IXEI, the indexes are also available through Nasdaq Global Index Data Service (GIDS) with the tickers "IXCI", "IXBI" and "IXEI", with dissemination interval kept at 15-second unchanged.
The vendor tickers are shown below:
| Index Name | Bloomberg Ticker | Reuters Ticker |
| ixCrypto Index | IXCI | .IXCI |
| ixBitcoin Index | IXCBI | .IXBI1 |
| ixEthereum Index | IXCEI | .IXEI1 |
For data licensing and product, please contact us at licensing@ix-index.com.
For free API use on academic research or trial, please contact enquiry@ix-index.com
Hashtag: #IX
The issuer is solely responsible for the content of this announcement.
