The US Dollar Cryptocurrency Index
Similar to the US Dollar Currency Index but using 6 cryptos
There was not an index that showed the cryptocurrency impact from macroeconomic trends. I love finance and thought why not build my own.
I just added live market data and crypto news to the website. Including some cool spark charts. This helps to give a snapshot of the current market. Hopefully, it will bring more people to the newsletter.
Let me know what you think.
I created a live 24-hour version of the index on my website.
US Dollar Cryptocurrency Index
The index measures the value of the US Dollar relative to the value of the most significant cryptocurrencies. It tells the story of market impact from macroeconomic trends.
What started as a way to limit hosting and data costs became a paid community. A lesson learned from the old days of Dow Jones where the index was part of the service.
The Index is available with weekly insights and commentary from other currency traders for $99 / month with a $1 14-day trial.
Right now it is only available behind a paywall. However, I am looking at releasing an API and giving access (without the commentary) to Forex and Crypto brokers/exchanges.
The US Dollar Currency Index was created to dollar's value relative to following select currencies:
Euro (EUR), 57.6% weight
Japanese yen (JPY) 13.6% weight
Pound sterling (GBP), 11.9% weight
Canadian dollar (CAD), 9.1% weight
Swedish krona (SEK), 4.2% weight
Swiss franc (CHF) 3.6% weight
This is great for Forex investors but nothing like it exists for crypto. The US Dollar is the most used fiat currency for crypto exchanges so I started with that.
Using BTC, ETH, XRP, BCH, BSV, and LTC as the relative comparisons, we have the means to determine the market impact from macroeconomic trends.