The growing crypto exchange Huobi Pro announced Wednesday that it will be launching a new market index for its customers. The Huobi ‘main force’ index, which is intended to “reflect the overall performance of Huobi Pro market,” will track ten different digital assets traded against Tether dollars (USDT) in real time.
“Huobi main force has divided digital assets into four main categories: digital asset, platform, application and real asset substitute (of which real asset substitute is not included in the index because it represents the price of real assets),” said the company’s official announcement. “Assets will be ranked according to their turnover, and top assets of each category will be selected as index samples. After samples are selected, the sample weight will be calculated based on the daily average trading volume of the previous quarter.”
In case an asset is delisted from the exchange, the sample will be “temporarily replaced. And the coins that are ranked first in the candidate list will be selected as the sample coins in turn.”
Huobi Pro reportedly also has plans to launch index-based products by June 10.
Post-China Ban, Huobi Continues to Move Forward
Huobi has taken a series of big steps to expand its operations over the past several months, including its April announcement that it will be opening offices in London.
At the time, Peng Hu, Vice President of the Huobi Group, said that London was an absolute must: “not Malta, not Switzerland. Absolutely London, more precisely Britain, is the entry point for the European market for us.”
Chern Chung, Huobi’s senior business development manager, added that the move toward London “shows Huobi’s commitment and determination to go mainstream,” and that “we are not afraid of regulation nor are we escaping regulation.”
The company also opened offices in South Korea and San Francisco earlier this year.