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Bloomberg Terminal Adds Huobi's Cryptocurrency Market Index

Bloomberg Terminal Adds Huobi's Cryptocurrency Market Index

Cryptocurrency exchange Huobi announced that financial data firm Bloomberg has added the HB10 crypto market index on its terminal for subscribers.

In an announcement on Thursday, Huobi said users on Bloomberg Terminal are now able to track the performance of top 10 cryptocurrencies that are traded on Huobi Pro, which is now the third largest exchange in the world by trading volume based on data from CoinMarketCap.

Huobi launched HB10 index last month, which uses weighted samples to track a pool of top 10 crypto assets traded on its platform in real-time against tether (USDT), the dollar-pegged cryptocurrency, based on their liquidity and market capitalization.

The exchange later launched an exchange-traded fund that uses the index as a benchmark to allow investors to invest in a variety of assets instead of buying just one at a time.

In addition, Huobi said in today's announcement that the trading data of nine cryptos against USDT on its exchange will also be listed on Bloomberg Terminal, including bitcoin, litecoin, bitcoin cash, ethereum, ethereum classic, XRP, dash, EOS and zcash.

The new addition comes just a month after the data service firm added a crypto index to its terminal through a partnership with Galaxy Digital, a digital assets merchant bank headed by billionaire Michael Novogratz.

Currently, Bloomberg Terminal also tracks the prices of bitcoin, XRP, litecoin and ethereum using data from U.S. crypto exchanges.

Bloomberg terminal image via Shutterstock

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Source:
https://www.coindesk.com/bloomberg-terminal-adds-huobis-cryptocurrency-market-index/