

For example, the Crypto 10 index already exists. In the same way, the crypto market can develop its own indices that track cryptocurrencies. In other words, they are benchmarks for those companies’ stock value. Companies have individual listings but the most successful ones also get tracked in indices such as the S&P 500 or the Nasdaq 100. These indices use a single value to represent the basket of companies whose performance they track. To give you an example, think of the stock market. The first and more important interpretation is as a measure of how well a crypto token is doing, or how the crypto market is performing as a whole. In the context of cryptocurrencies, it can have two separate meanings. The term ‘benchmark’ can broadly be understood as a performance indicator.
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Though Bitcoin might be the cryptocurrency everyone thinks of first when they hear that term, another token has been growing in popularity recently: Monero (XMR). Not only are new tokens springing up all the time, older ones constantly introduce upgrades to make their blockchains more efficient or improve aspects like efficiency, profitability, privacy, and more. Cryptocurrencies really are the gift that keeps on giving.
