Announced on Feb 26, 2019, NASDAQ started a live listing of cryptocurrency prices after two weeks of official announcement. By integrating BraveNewCoin’s (BNC) Bitcoin Liquid Index (BLX) and the Ethereum Liquid Index (ELX), the second largest stock exchange, NASDAQ is sending real-time crypto price information on its Global Index Data Service (GIDS).
Concerning the latest listing, BNC’s CEO Fran Strajnar states that;
The LX program was born out of a need for clear and transparent price discovery of liquid cryptographic assets and is a bigger need today then it was back in 2015 when we started this program”
After the quick decline, the crypto market is back with a green signal again – in particular, BTC is turned positively with 0.82 percent, and ETH with 2.17 percent over the past 24 hours respectively. Furthermore, the other leading cryptocurrencies are also influenced with quite a good turn – as shown in the below figure.
BraveNewCoin will soon launch XRP liquid index
Beside BTC and ETH indices, the official announcement also revealed that BraveNewCoin will soon launch XRP liquid index as well which they termed it as ‘Ripple Liquid Index or RLI.
However, its worth to note that the move followed Coinbase Pro’s latest XRP listing on its platform – which quite gotten into a controversial debate by few experts in the crypto industry. Furthermore, the firm aims to plan to do so – and it’s not still officially confirmed by NASDAQ, means that it is still uncertain whether the stock exchange host it or not.
In fact, quoting Coinbase’s announcement of XRP listing on Coinbase Pro, BNC mentioned that the ‘enough trading volume of XRP on the exchange’ could become part of the RLX.
The ‘LX’ family of BNC indices has had its methodology independently audited against key IOSCO (International Organisation of Securities Commissions) principles says Strajnar. “We are in talks with a range of market participants and hope to be able to share further developments on this front very soon”.
What do you think about the BNC’s move of BTC and ETH indices on NASDAQ? And do you think that Ripple Liquid Index (RLI) for XRP is great to turn in the present crypto scenario, given than Coinbase Pro is already supporting it? Share your opinion with us
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Tabassum is a full-time content writer at Coingape. Her passion lies in writing and delivering apt information to users. Currently, she does not hold any form of cryptocurrencies. Follow her on Twitter at @Tabassumnaiz and reach out to her at Tabassum[at]coingape.com