Reuters, Bloomberg and TradingView to Add New Cryptocurrency Index

Cryptoindex comprises of crypto assets that have occupied a position in the top 200 for over three consecutive months, are "Almost always traded on multiple exchanges" and have a "Significant social media following."

Rebalancing of the Cryptoindex occurs on a monthly basis and is designed to spot trading data that has been inflated, the firm said.

Popular traders' social networking and data analysis site TradingView will also add the index as an additional choice for its users.

"The index is the culmination of three decades experience in the financial services industry building indices. I have witnessed first hand the growing demand for high-quality insight into the traditionally opaque and misunderstood area of cryptocurrency, which led me to create Cryptoindex. Our index takes into account collective sentiments expressed on social media, in addition to complex data analysis of volume trades and predictive analytics."

The Cryptoindex is built from an analysis of over 1,800 cryptocurrencies that are passed through set of filters, according to the firm.

A company representative told CoinDesk in an email that its data is collected from cryptocurrency exchanges, news sources and social media sites, such as Twitter, Telegram, GitHub, and others.

"Over 33 Terabytes of data is analysed to extract over 200 factors that create a refined ranking in the index, which is then put into a neural network to create a final rating of coins," according to the release.

The news comes soon after data site CoinMarketCap was also added to the Bloomberg and Reuters terminals, as well as Nasdaq.

Cryptoindex said its product offers "a methodology fully suited to the needs and requirements of heavily regulated asset managers, institutional and professional investors."