I wanted to contribute something meaningful and of value here on Steemit for fellow minnows or perhaps even whales. This being my third post to the community I wanted to share something I found useful to me personally, and what may become a standard Index for Cryptocurrency Markets in the future.
The TaiFu Index measures the "Pulse of the Crypto Markets" similar to the S&P500 or Dow Jones. This market tool currently weights the index by the top 30 Cryptos with the biggest market cap and is market weighted. For example BTC is weighted 40% as say Apple weights the S&P500 weights 5% of that index.
So with a market weighted index although there is close to 1000 Crypto offerings (or soon to be) the top 30 account for 95% of the know market value. Hence smaller market cap coins will not move the market or its strength or weakness. As the crypto space continues to grow I believe this will be a valuable tool for investors professional and novices as I going forward.
I like the fact that STEEM was apart of this chart and makes me confident as a mew member that I am on the right track.
If you find value in this post and would like to see more content like this, please let me know in your comments, upvote, resteem, tweet or share on social media. I am new and I hope to provide good content to the Steemit Community, your help in this is appreciated! Let's be Great Together!
