NASDAQ TO THE RESCUE!

Nasdaq may have just removed one of the most significant barriers before a potential cryptocurrency adoption.

Nasdaq’s Bitcoin and Ethereum Indices Solve a Major Problem for Crypto
Nasdaq may have just removed one of the most significant barriers before a potential cryptocurrency adoption.

The US stock market exchange on Monday announced two cryptocurrency indexes which provide real-time spot or reference rate for Bitcoin and Ethereum. Dubbed as the Bitcoin Liquid Index (BLX) and Ethereum Liquid Index (ELX), both the indexes extract price data from multiple exchanges to provide onlookers single price point for BTC and ETH. Nasdaq assured that independent auditors had verified their methodology of obtaining and unifying price data to present the best USD-equivalent value of cryptos.

“The BLX,” the exchange said, “is one of the most widely-referenced BTC indices among crypto traders and has been calculated back to 2010.”
At the same time, the ELX price data dates back to 2014, the exchange added. The indices’ underlying algorithm, created by New Zealand-based blockchain research firm Brave New Coin, will refresh price information at a frequency of thirty seconds.

IOSCO Principles
Nasdaq said that their independent auditors had verified both BLX and ELX against the critical principles proposed by IOSCO. They are investors’ security, regulating markets to ensure fairness, efficiency, and transparency, and curbing systematic risks. Continue Reading Here