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Coinbase launches COIN50: an index composed of the top 50 cryptos
By Daniele Corno
Coinbase's COIN50 index allows users to track 50 top cryptocurrencies, offering up to 20x leverage for enabled investors
The new COIN50 index
Coinbase has introduced COIN50, a new index that represents the top 50 cryptocurrencies listed on theExchange.
Each asset included is selected through specific criteria to provide a broader representation of the crypto market. The COIN50 index is also available as a perpetual future with up to 20x leverage, available only to qualified traders and investors.
This index was developed with the collaboration of Coinbase Asset Management and Market Vector Indexes, solidifyingCoinbase’s commitment to expanding trading options for its users. The composition of the index is based on market capitalization: Bitcoin covers 50.3 percent, Ethereum 27.5 percent, followed by other cryptos such as Solana, XRP and Dogecoin.
Coinbase ‘s goal with COIN50 is to provide a more affordable way to achieve diversification, improving exposure to digital assets with a balanced portfolio.
A new benchmark for the industry
The launch of COIN50 comes at a time of strong growth for the cryptocurrency market. Bitcoin is approaching the $90,000 mark, while the overall capitalization of cryptocurrencies has reached $3 trillion.
David Duong,head of research at Coinbase, compared COIN50 to the early days of the S&P 500, which began as the S&P 90. Today, COIN50 covers about 80 percent of the crypto market, a share similar to the S&P 500’s impact on the U.S. stock market.
In parallel, in the past month , COINBASE’s shares have grown by 75 percent and the app is the 18th most downloaded app on the app store.
