As per the announcement, this index will grant consistent and checked pricing info for such trading matches as ETH/USD. Moreover, it will provide an everyday standard price.
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Concerning the issue, Tim McCourt, who is a governing leader and a global head of assets products and alternative pilings at the bourse operator, said that both a specific rate and an index are developed to fit the growing demands of the niche marketplace.
- ETH Reference Rate;
- Real-Time Index.
He also said that giving price transparency and a likely price reference source is a crucial improvement for ETH users.
How Will It Work?
In accordance with the report, the purchasing/vending platform named Crypto Facilities, that is headquartered in the United Kingdom, will be the one to measure both the Ether Reference Rate and Ether Real-Time Index. By the way, around a week ago this platform set off the initial controlled ETH-based futures product.
Concerning the data, it will be pervaded from two cyber money bourses:
- Kraken (based in San Francisco)
- Bitstamp (based in Luxembourg)
Timo Schlaefer, the top exec of Crypto Facilities, emphasized that the platform is delighted to be a part of the empowered ecosystem that has generated a network encompassing Ethereum by giving a reliable standard rate as well as the real-time ETH-USD rate.
It is worth noticing that Ether is the second most valuable virtual coin in the world saw an immense adoption and skyrocketing last year.