HKVAC Expands Global Crypto Index Reach and Replaces USDC with XRP

HKVAC Introduces Sweeping Changes to Cryptocurrency Indexes

In a recent announcement, Hong Kong’s index company HKVAC made significant changes to its flagship cryptocurrency indexes. One of the most notable alterations was the replacement of USDC with XRP in the world’s top five cryptocurrencies. This shift caught attention and could indicate a change in investor sentiments.

Major Index Overhauls

HKVAC’s Cryptocurrency Global Large Market Cap Index, which tracks 30 leading cryptocurrencies globally, underwent substantial changes. Newcomers Hedera (HBAR) and Maker (MKR) joined the index, while Cryptonex (CNX) and Internet Computer (ICP) bid farewell.

The Cryptocurrency Large Market Cap Index, which excludes BTC and ETH, also saw updates. Hedera (HBAR), Maker (MKR), and Quant (QNT) found their spots, while Cryptonex (CNX), Internet Computer (ICP), and HEX were removed.

XRP Takes Center Stage in Top 5 Crypto Index

In a surprising move, XRP replaced USDC in HKVAC’s Cryptocurrency Global Large Top5 Index. This shift also occurred in the Cryptocurrency Global Large Top5 Equal Weight Index, highlighting XRP’s growing dominance in the market.

Consistency in Top 10 Listings

While these changes have created market buzz, HKVAC’s Cryptocurrency Global Large Top10 Index and Cryptocurrency Global Large Top10 Equal Weight Index remained unchanged. Both indexes continue to feature their original ten constituent cryptos, providing stability amidst the evolving landscape.

The details of these changes will be available on HKVAC’s official website by October 20, with the shifts taking effect on the same day. HKVAC aims to accurately reflect the dynamic crypto market and offer insights into its changing tides.

Hot Take: HKVAC Shakes Up Cryptocurrency Indexes, Reflecting Shifting Investor Sentiments

Hong Kong’s index company HKVAC recently made significant changes to its flagship cryptocurrency indexes, signaling a possible shift in investor sentiments. XRP replaced USDC in the top five cryptocurrencies, showcasing XRP’s growing dominance. The indexes also saw new additions and removals, reflecting the ever-evolving crypto landscape.

While the top ten listings remained consistent, HKVAC’s commitment to staying relevant and offering insights into the changing tides of the crypto world is evident. It will be interesting to see how the market responds to these transformations.