CFX Crypto Exchange Launches CFX10, Indonesia's First Crypto Asset Index

Launch of CFX10. (Photo: Special)

JAKARTA - PT Central Finansial X (CFX) as a pioneer of licensed crypto asset exchanges in Indonesia launched CFX10, the first crypto asset index in Indonesia. The presence of the CFX10 index provides a comprehensive reference for market participants as a key indicator that can reflect the condition of the Indonesian crypto asset market.

The CFX10 index measures the performance of the top ten crypto assets in the Digital Financial Asset List (DAKD) set by the CFX Crypto Exchange. In determining the list of CFX10 constituents, the CFX Crypto Exchange uses several criteria, one of which is the amount of the crypto asset's market capitalization.

The calculation of the index is based on the availability of data on trading crypto assets reported to CFX. CFX Crypto Exchange President Director, Subani, said the innovation of the CFX10 index was born based on the market's need for a product that can reflect market conditions.

The reason is that currently in the DAKD issued by the CFX Crypto Exchange there are thousands of crypto assets where the price can change at any time and differ from each other.

"So when it comes to the crypto asset market, there is not yet one parameter that can represent the overall condition of the Indonesian crypto asset market. The presence of the CFX10 index can be a credible reference for crypto asset consumers because it is built on a transparent methodology," said Subani, quoted Tuesday, June 9.

To ensure the CFX10 Index continues to display market price movements and maintain its movement to reflect real market conditions, the CFX10 index constituents are evaluated every three months. The list of CFX10 constituents for now consists of Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), XRP (XRP), Solana (SOL), Tron (TRX), Dogecoin (DOGE), Hyperliquid (HYPE), Bitcoin Cash (BCH), and Cardano (ADA). Consumers can see the index's movements and its list of constituents through the CFX Crypto Exchange's official website, www.cfx.co.id.

Not all crypto assets can be included in the CFX10 index. To ensure quality and stability, there are four main criteria that must be met. First, crypto assets must have a monthly transaction volume above the average of all crypto assets listed on DAKD over the past three months. Second, crypto assets must be traded in a number of PAKD with a minimum limit equivalent to the industry average over the past three months.

Third, crypto assets from the categories of stablecoins, wrapped assets, and staked assets are not included. Fourth, the final determination of the 10 index constituents is through the top ranking based on global market capitalization that has met all of the above criteria.

Subani said this innovative step further strengthens the position of the CFX Crypto Exchange as a pillar of the ecosystem of trading crypto assets that is always committed to providing transparent market data for consumers and all stakeholders.

Previously, CFX had also launched a market data facility, the preparation of DAKD, to the periodic release of data on industry developments.

"The launch of the CFX10 Index is a tangible manifestation of our commitment to building a 'pillar of trust' in the national crypto ecosystem. Data transparency is the foundation, and on top of that foundation, CFX will continue to spur the birth of new product innovations and can increase the competitiveness of the national crypto asset industry. In the future, we hope that this index can be the forerunner for the development of other innovative derivative products," concluded Subani.