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ECX Index, Investment Trust, Portfolio News


TradeBlock’s ECX Index For Ethereum Classic Now Publicly Available

Published:

Apr 10, 2017


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Posted In:

ECX Index, Investment Trust, Portfolio News

Published:

Apr 10, 2017


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TradeBlock accounces the public launch of the ECX Index and a set of associated tools to track its performance. The ECX Index is an institutional-grade reference rate for the USD-denominated price of Ethereum Classic and will be used as the reference rate for the Grayscale Ethereum (ETC) Investment Trust.

The tools can be accessed by navigating to the ECX Index section of our Markets page.

The sustained economic growth of bitcoin has been a catalyst for an increasing interest in the broader digital currency market. Once a market filled with a multitude of novel yet unproven offerings, digital currencies are now maturing into a market with established leaders that attracts the interest of casual and professional investors alike. Increasingly, these markets are being used by the public to store value, transfer value, profit on their volatility and to diversify portfolios. They also act as havens for the ongoing debates regarding the governance and technological aspects of the various technical protocols.

One of the most significant of these markets is Ethereum Classic, a protocol designed from inception to offer more than a peer to peer electronic payment system by natively integrating smart contract functionality. Smart contracts provide a dynamic framework in which pre-defined conditions can be enforced and executed without requiring external intervention. The potential applications for the technology are vast and are poised to provide considerable value compared to traditional contracting practices by optimizing their mechanics and reducing their costs.

TradeBlock’s ECX Index is designed to track Ethereum Classic liquidity while adjusting for any deviations caused by anomalies and manipulation attempts at individual exchanges. The index value is a live rate that is calculated once per second based on the trading activity observed in the leading Ethereum Classic exchanges.

The data from all exchanges is collected in real-time and immediately cleansed and validated to ensure the reliability of all contributing trades. The data from each exchange is subsequently weighted against the cohort based on their short- and long-term trading volume. The most liquid exchanges receive a higher weighting in order to maximize the replicability of the index’s rate in the live spot markets. The index also weights every exchange based on the price variance across all data points and on the trading frequency at each venue.

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