After having successfully launched the HUOBI 10 Index, Huobi - which is one of the top 3 cryptocurrency exchanges in the world - is making headlines yet again! This time with a listing on Bloomberg Terminal. With this, HUOBI 10 Index has the proud distinction of being the first blockchain-related index to be listed on the Bloomberg Terminal.
This achievement is another in a series of path-breaking announcements and developments such as the launch of the 1 billion dollar Global Blockchain Fund as well as setting up shop in countries like Australia, Canada and the United States. You can take a look at and track HUOBI 10 here. And to sign up for an account on Huobi Pro, simply click here.
The Bloomberg Terminal
The Bloomberg Terminal is a modern icon of financial markets used by over 325,000 of the most influential decision makers in the world. Its goal is to help bring transparency to financial markets and connect market participants to a groundbreaking data, analytics and information-delivery service. The Bloomberg Terminal has helped bring together real-time data on every market, breaking news, in-depth research, powerful analytics, communications tools and world-class execution capabilities - making it the preferred resource when it comes to financial markets and knowledge in the space.
About HUOBI 10 Index:
Launched on 23rd May 2018, The Huobi 10 Index is composed of 10 digital assets. Currently, the index fund is comprised of are: Bitcoin, Huobi Token, EOS, Ethereum, Bitcoin Cash , XRP , LTC , IOST , Ethereum Classic, and Dash.
The Huobi index is based on weighted samples and are selected based on the daily average turnover of all USDT pairs that are traded on Huobi Pro during the previous quarter. This is followed by an advanced asset classification process, where these trading pairs are further classified into four main groups: Coin, Utility Asset, Platform, and Application. However, it is important to note that for the index sample ,the utility assets have been excluded. Post this classification, a ranking process is carried out within each group. If the number of listed assets of a particular group was less than the intended group ratio, another top ranking asset will be appointed to fill in the vacancy.
The Huobi index base points are 1,000 Points with 23rd May 2018 being the Index baseline. As of this writing on the 22nd June 2018, HUOBI 10 Index is trading at 880.35 Points.
Performance of HB10 vs BTC, ETH, and BCH:
Since its launch on 23rd May 2018, the HUOBI 10 Index has consistently outperformed BTC, ETH, BCH and many other coins. This is an good indication that HUOBI 10 is more resilient to market swings and provides a lot more stability to an investor’s portfolio as compared to holding exclusively one asset.
Let’s take a closer look at how HB10 has fared against againsts BTC, ETH and BCH since the HUOBI 10 Index launch:
HUOBI 10 Index Price change:
HB10 Price on 23rd May (base points) was 1000
HB10 Price on 22nd June 2018 is 880 points
HB10 Price change: -12%
HB10 vs BTC -
Bitcoin Price on 23rd May 2018 was $8200
Bitcoin Price on 22nd June 2018 is $6400
BTC Price Change: -21.95%
HB10 vs ETH -
Ethereum Price on 23rd May 2018 was $675
Ethereum Price on 22nd June 2018 is $495
ETH Price Change: -26.66%
HB10 vs BCH -
BCH Price on 23rd May 2018 was $1150
BCH Price on 22nd June 2018 is $800
BCH Price Change: -30.43%
As you can see, the HUOBI 10 Index has proved to be resilient and outperform the strongest names in the cryptocurrency space even during times like these when markets are facing selling pressure.
HUOBI 10 Index Tracking Fund (HB10)
In addition to HUOBI 10 Index, Huobi also announced the launch of the HB10 Index tracking fund which is tradable on the secondary market. As it is based on the HUOBI 10 Index, HB10 has consistently outperformed the market since it’s launch earlier this month. You can see how HB10 has performed recently by following these detailed reports by Huobi here. You can track and trade HB10 on the secondary market at Huobi Pro.
Also, check out this article I’d written early just when HUOBI 10 Index had launched. It’ll give you a good idea of the components at that time and an indication of performance. And don't forget to sign up to trade of Huobi Pro here.
Huobi has opened the gates to a wider audience with their listing on the Bloomberg Terminal and is a sign of bigger and better things to come, in my opinion. It will be interesting to watch how things unfold in the future and I will be monitoring and analysing Huobi’s plans and development more closely going forward.
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