The Huobi cryptocurrency exchange announced that the financial company Bloomberg added the HB10 crypto market index on its terminal service.
On Thursday, Huobi said that users of Bloomberg Terminal are now able to monitor the performance of the top 10 cryptocurrencies traded on Huobi Pro, the third largest exchange in the world by trading volume according, based on data from CoinMarketCap.
Huobi launched its HB10 index last month. It tracks the behavior of 10 digital assets in real-time mode against USDT, a cryptocurrency, pegged to the dollar. The index algorithm is based on a weighted sample that divides digital assets into 4 main categories: coins, platforms, applications and substitutes for real assets. The index includes the leading assets, which are ranked according to their turnover for the last quarter.
In addition, in today's statement, the representatives of the exchange noted that the data on nine cryptocurrencies against the US dollar on the stock exchange will also be listed on Bloomberg Terminal, including bitcoin, litecoin, bitcoin cash, ethereum, ethereum classic, ripple, dash, EOS and Zcash.
Today's announcement was made only a month after Bloomberg launched the Bloomberg Galaxy Crypto Index (BGCI) through a partnership with a digital assets merchant bank Galaxy Digital Capital Management LP, founded by billionaire Michael Novogratz.
Currently, Bloomberg Terminal also tracks the prices of bitcoin, ripple, litecoin and ethereum, using data from US crypto exchanges.
In the past few months, there are more and more news about the launch of cryptocurrency indices by various companies in traditional financial markets, which indicates an increased interest of investors in digital assets.
In mid-May, Thomson Reuters launched a new Cryptocurrency Real Time Rates price index for six cryptocurrencies. As noted in the company, the goal of the index is to increase the efficiency and transparency of operations for cryptocurrency investors in the world market.
Therewith, in the same month, the commodity exchange CME Group launched two indices for ethereum in order to “meet the needs of the developing cryptocurrency market”.
In March this year, it also became known that the largest currency exchange in South Korea, Upbit, announced the launch of the country's first cryptocurrency index, which is measured by four stock indices based on long-term data of the exchange transactions by calculating standard values in confidence intervals.
Now, let's move to the technical analysis of bitcoin (BTC):
Bitcoin rose from the level of $6,450 to $6,750, but after that bulls again surrendered the initiative to bears. As a result, the price is in a narrow flat in a range of $6,750-6,670. As you can see, the ascending triangle formed on the bitcoin chart. And there is every reason to expect a price break above $6,750. But it can happen in a fairly long period. Perhaps this will happen at the end of the day, on June 21. The next resistance level is at $7,660.
Technical analysis of Ethereum (ETH)
Ethereum rose to the level of $535, but judging by the technical analysis of the chart, we can assume its correction to the level of $515. Then, more than likely, it will push away from this level and continue its further growth. The resistance levels of $530 and $590 are waiting for ethereum. In all likelihood, this growth will not be rapid, judging by the dynamics of the last weeks of the chart.
Technical analysis of Ripple (XRP):
Yesterday, ripple was able to stay at the level and grow to $0.53. But, of course, it is not enough for good growth. As a result, ripple goes to a correction. Perhaps it will drop to the level of $0.51 and then it will be able to overcome an important resistance level of $0.55. Let's be pragmatic and wait before making forecasts of further growth of ripple.