VICTORIA, Seychelles, Oct. 09, 2024 (GLOBE NEWSWIRE) - Bitget, the world's leading cryptocurrency exchange and Web3 company, has announced the addition of the GMCI indices to its futures market, enabling traders to access a diversified range of assets securely. The GMCI indices are curated based on strict criteria to ensure a verified overview of the market. For any coin to be included in the GMCI indices, it must be actively traded on at least one of eight major centralized exchanges (CEXs) with sufficient trading volume.
Additionally, each coin must have the support of at least one of three custodians, ensuring the integrity and security of assets. The indices focus on coins with transparent circulating market capitalization. Circulating Market Cap information is obtained from CoinMarketCap and CoinGecko, and live pricing information is sourced from Coin Metrics, which also serves as GMCI’s third-party index calculation agent.
The GMCI 30 index stands out by featuring the top 30 coins within the GMCI asset universe, excluding stablecoins, wrapped assets, and staked assets such as USDC, WBTC, and stETH. This index provides traders with exposure to a comprehensive set of the leading digital assets, capturing the broader market's movements while maintaining diversification and reducing over-concentration in any single asset.
"At Bitget we prioritize the security of our users while delivering world-class innovation. This aligns with Bitget's broader strategy of accelerating utility and mass adoption of crypto within a safe and secure ecosystem," said Gracy Chen, CEO at Bitget. "By providing a curated set of assets backed by trusted custodians, we aim to empower traders with informed, diversified options to enhance the ease of managing wealth," she added.
Rebalancing occurs monthly, on the last Friday of each month, with adjustments made according to the circulating market capitalization of the coins. This process ensures the indices remain up-to-date with market fluctuations, allowing them to reflect current trends and price movements accurately. While individual token positions are capped at 25% during rebalancing, they can float based on price performance, offering a dynamic representation of the market’s momentum throughout the month.
The GMCI Meme index caters to the growing interest in meme coins, a segment that has garnered significant attention and trading volume within the crypto community. This index includes the top meme coins traded across selected exchanges, allowing users to hop on emerging memecoin trends securely.
"Our collaboration with Bitget to launch a perpetual contract on the GMCI 30 index is a significant step in expanding the accessibility of our index solutions to a broader market. As a leading crypto exchange in terms of trading volume and innovation, Bitget shares our vision of delivering cutting-edge, reliable products to the trading community. This marks the beginning of further partnerships that will see GMCI indices used as the benchmark of choice for innovative trading products across leading platforms," said Maarten Botman, CEO at GMCI.
Offering exposure to a range of assets, GMCI indices help traders navigate diverse market segments. GMCI indices provide the robustness and transparency investors are accustomed to on the traditional financial markets while tapping into expertise in crypto much like Bitget. With this, Bitget users can now access GMCI indices including memecoins indices on the platform.
To get started, please visit here.
About Bitget
Established in 2018, Bitget is the world's leading cryptocurrency exchange and Web3 company. Serving over 45 million users in 150+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading, AI bot and other trading solutions. Bitget Wallet is a world-class multi-chain crypto wallet that offers an array of comprehensive Web3 solutions and features including wallet functionality, swap, NFT Marketplace, DApp browser, and more. Bitget inspires individuals to embrace crypto through collaborations with credible partners, including being the Official Crypto Partner of the World's Top Professional Football League, LALIGA, in EASTERN, SEA and LATAM, as well as a global partner of Olympic Athletes Buse Tosun Çavuşoğlu (Wrestling world champion), Samet Gümüş (Boxing gold medalist) and İlkin Aydın (Volleyball national team).
For more information, visit: Website | Twitter | Telegram | LinkedIn | Discord | Bitget Wallet
For media inquiries, please contact: media@bitget.com
Risk Warning: Digital asset prices may fluctuate and experience price volatility. Only invest what you can afford to lose. The value of your investment may be impacted and it is possible that you may not achieve your financial goals or be able to recover your principal investment. You should always seek independent financial advice and consider your own financial experience and financial standing. Past performance is not a reliable measure of future performance. Bitget shall not be liable for any losses you may incur. Nothing here shall be construed as financial advice.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/459f37c8-cd0b-4be2-a7ba-6fcfd6f5e43e
