HONG KONG - In a significant reshuffle of its cryptocurrency index, the Hong Kong Virtual Asset Consortium (HKVAC) has announced the removal of XRP due to market underperformance. The consortium has introduced Solana into the top five global cryptocurrency index, marking a shift in the digital asset landscape.
The HKVAC's revision of its index also includes the addition of several new assets. NEAR Protocol, Internet Computer, Immutable X, Optimism, and Injective are now part of the index, reflecting the evolving preferences and performance metrics in the crypto market. Furthermore, in another notable change within the top ten rankings, Tron has taken the place of Avalanche (AVAX).
Cryptocurrency indices like the one managed by HKVAC are crucial for investors as they provide a benchmark for the performance of digital assets. These indices are often used to track the health of the cryptocurrency market and can influence investment decisions. The inclusion and exclusion of assets from such indices can impact the visibility and perceived market strength of the cryptocurrencies involved.
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