LedgerX has launched its first Bitcoin (BTC) value volatility index LXVX.
LedgerX is a cryptocurrency asset supervisor regulated by the United States Commodity Futures Buying and selling Fee (CFTC). The official press launch shared with Cointelegraph explains how the index is fashioned:
“The LXVX incorporates the extent of concern and uncertainty within the bitcoin market, and thus could be considered the “bitcoin concern index,” in the identical method the VIX is usually known as a inventory market concern index by market commentators.”
In accordance with the press launch, the corporate will draw the info for LXVX from the Bitcoin choices product that it already provides to its clients.
LedgerX’s COO Juthica Chou has stated that the brand new index will help merchants and buyers monitor threat. Chou additionally famous that LXVX is at present down by about 20 p.c from the start of the yr.
Whereas LXVX isn’t a tradeable product as of proper now, making it one is reportedly a part of the corporate’s plans for the long run.
As Cointelegraph reported in Could 2018, LedgerX has launched the primary ever CFTC-licensed Bitcoin financial savings product.