Hong Kong Virtual Asset Rating Agency HKVAC Announces the Compilation Method and Calculation Rules of the “Large Cryptocurrency Index”

PANews · 2023-06-27T07:23:00.000Z

PANews reported on June 27 that Hong Kong virtual asset rating agency HKVAC announced the calculation method and calculation details of the "HKVAC Large Cryptocurrency Index". The first batch of 30 currencies that make up the index include WBTC, BTCB, stETH, BCH, LTC, BNB, MATIC, ADA, ATOM, FIL, NEAR, ALGO, ICP, XRP, DOGE, DOT, WTRX, SHIB, TRX, LINK, LEO, XMR, XLM, OKB, LDO, HBAR, VET, QNT, FTM, EOS. Among them, HKVAC conducts a review of currencies at the end of each quarter, which is announced two weeks after the end of the quarter and implemented three weeks after the end of the quarter. Candidacy for inclusion in the index includes listing and trading requirements (the cryptocurrency should be actively traded on the market for at least three months), total market capitalization requirements (the index includes the highest market capitalization in the market and it meets the liquidity requirements below, the cryptocurrency should be Median daily market capitalization must reach at least $100,000 over the past three months), Liquidity requirements (cryptocurrencies must have a median daily trading volume of $100,000 over the past three months), Asset Class Requirements (Cryptocurrencies should be publicly traded, exclude stablecoins or any other pegged cryptocurrencies, exclude Bitcoin and Ethereum).

According to PANews on June 27, Hong Kong virtual asset rating agency HKVAC announced the calculation method and operation rules of the "HKVAC Large Cryptocurrency Index". The first batch of 30 currencies that make up the index include WBTC, BTCB, stETH, BCH, LTC, BNB, MATIC, ADA, ATOM, FIL, NEAR, ALGO, ICP, XRP, DOGE, DOT, WTRX, SHIB, TRX, LINK, LEO, XMR, XLM, OKB, LDO, HBAR, VET, QNT, FTM, and EOS. HKVAC reviews the currencies at the end of each quarter, announces the results two weeks after the end of the quarter, and implements them three weeks after the end of the quarter.
Candidates for inclusion in the index include listing and trading requirements (the cryptocurrency should have been actively traded on the market for at least three months), total market capitalization requirements (the index includes the cryptocurrency with the highest market capitalization on the market and it meets the following liquidity requirements, the median daily market capitalization of the cryptocurrency in the past three months must reach at least US$10 million), liquidity requirements (the cryptocurrency must have a median daily trading volume of US$100,000 in the past three months), and asset class requirements (cryptocurrencies should be publicly traded, excluding stablecoins or any other anchored cryptocurrencies, and excluding Bitcoin and Ethereum).
According to the official website, HKVAC is about to launch the HKVAC Risk Rating Cryptocurrency Index, but no details have been announced yet.