The market index which was launched by the Huobi cryptocurrency exchange by the name of HB10 has been integrated by Bloomberg into its terminal. Bloomberg terminal is widely famous among the traders as well as investors all over the world. The customer base of Bloomberg terminal is also pretty huge.
With the help of Huobi pro, the Bloomberg terminal is able to display the performances of the top 10 cryptocurrencies. Huobi pro is currently the 3rd largest a cryptocurrency exchange by trading volume. As a result, it has become a credible and in the cryptocurrency industry.
HB10 uses the weighted sample from the top 10 cryptocurrencies in order to come to a price against Tether. Tether is a dollar-based cryptocurrency. This ensures that the market capitalization is properly packed and also there is less liquidity. This is one of the main advantages of this particular cryptocurrency exchange.
Launch of the cryptocurrency index fund:
Recently, the cryptocurrency exchange also launched its index fund. It will use the setbacks in order to measure the returns which it achieves for the investors. As a result, the variety of assets in which the investors will be able to invest in will be pegged against the index.
Statement by Huobi:
According to Huobi, 9 cryptocurrencies pegged against a USDT will be present in the Bloomberg terminal. These will include the 9 men cryptocurrencies like Bitcoin, Litecoin, Bitcoin Cash, Ethereum among others.
This is a huge news for Huobi. It increases the credibility of Huobi significantly. This is one of the main reasons why the cryptocurrency exchange will actually gain more and more traction as its index becomes more famous. Also, enterprise -related business can be generated with the help of its index. This was clearly indicated when the index was used by Bloomberg for its terminal. With increasing integration is, the cryptocurrency exchange will become even more popular.
Over a period of time, as the solutions by the cryptocurrency exchanges become more and more popular, the integration is as well as the availability of such indexes will increase significantly. The investors will be able to more accurately measure their returns. With the help of expert solutions, it will, in turn, become easier for the investors to know what is the kind of return which they are able to get on their investment over a longer period of time. It remains to be seen whether any other financial powerhouse also uses this index in order to pick the performance of the cryptocurrencies.