Crypto exchange binance is launching its first index product, kickstarting its Binance CoinMarketCap Index Series, enabling investors to track the performances of the top 10 cryptocurrencies.
). Binance indices will utilize pricing information from crypto price tracker CMC, of which the crypto exchange is the owner.
According to the announcement, the Equal-Weighted Index will be rebalanced monthly and is designed to help investors evaluate price and performance. The index products, beginning with the Top 10 Equal-Weighted Index, will be available to investors starting in November 2022 through Binance’s Auto-Invest service.
In the future, Binance says the community can expect more from the index series, which will encompass “more digital assets in a diverse set of products."Despite a long and harsh crypto winter, Binance and other major crypto-industry giants have been developing their service offerings to the wider community.
A recent Q3 2022 report from the Web3 development platform Alchemy reported that this year could actually be tBinance recently expanded its service offerings in multiple markets around the world. On Oct. 6,
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