Bloomberg has added the newly launched cryptocurrency market index of Huobi to its terminal, according to a report by Coindesk.
Last month, Huobi launched HB10, a benchmark index which projects the performance of top 10 coins traded on Huobi. The real-time value of all these coins against USDT, a dollar-pegged cryptocurrency, are taken according to a pre-decided weightage system to calculate the index.
The exchange also launched an exchange-traded-fund based on the index earlier this month which allows the users to invest in a range of assets rather than concentrating on a single one.
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Bloomberg’s data terminal is one of the go-to spots for professional investors all around the world. Though it remained shy to the controversial crypto market in the beginning, the meteoric rise of the coins last year forced Bloomberg to list Bitcoin with the eventual addition of Ethereum, Litecoin, and Ripple. Moreover, around a month ago, Bloomberg added another index to its terminal through a partnership with Galaxy Digital, a digital assets merchant bank headed by billionaire Michael Novogratz.
Huobi was the leading exchange in China before the country’s overnight ban of every crypto exchange. Though it struggled to find a new base overseas, it finally settled in Singapore, a crypto friendly jurisdiction in Asia, and concentrated in expanding the global version of the exchange – Huobi Pro.
According to data provided by CoinMarketCap.com, Huobi is one of the top three crypto exchanges worldwide today in terms of trading volume. However, there is a staggering difference of half-a-billion dollars between the daily trading volume of Huobi and the first two placeholders – Binance and OKEx.