Invstr reportedly rolls out a new Cryptocurrency Index designed for its platform. The new tool will help users monitor fluctuations of the prices as well as other changes of cryptocurrencies.
According to the company press release published on February 6, the new index will enable customers to follow the fluctuations that occur in the segment, draw a comparison of certain crypto pairs. The index will also cover a number of digital assets, payments, as well as utility tokens.
The list of cryptocurrencies the app supports will be reviewed on a quarterly basis, thus the platform will add newer and stable cryptos and exclude suspended and unstable assets from the index. At present, the idex covers 18 cryptos. The company noted that the new coin will be added to the list once there is enough evidence of its price maturity.
In addition, Invstr CEO Kerim Derhalli said the index will become a tool for investors to assess how crypto investments will impact their portfolios.
"Traditional indices measure the impact on the asset class on an investor’s portfolio... The Invstr Crypto Index addresses this by using weightings that optimise risk-reward based on the volatility of the constituent assets," he said.
This tool will be activated in the Invstr app for free.