
Show HN: World's First Crypto Market Sentiment Index - sromana14
https://www.shufflup.org/SMSI.php
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sromana14
Today we are introducing world's first cryptocurrency market index - SHUFFLUP
Crypto Market Sentiment Index or simply SCMSI.

The preface: The traditional stock market has Dow Jones Index to monitor the
market health but we noticed that our own crypto world doesn't have something
like that. People generally use Bitcoin's price as market health indicator,
whereas more than 50% market is dominated by altcoins. Hence we have developed
a market index which takes into account the top 100 coins(based on market
capitalization) and gives index points which indicates the market health.

The execution: We have used price-weighted method, the same method that is
used to calculate Dow Jones Index. The divisor gets adjusted whenever a
member(or constituent) i.e a coin or a token gets changed in the top 100 coins
list. It means simply because a new constituent is getting added, this should
not justify high value variations in the index. Hence just before the new
constituent is introduced, a new “calculated” divisor value should be
introduced and we just did that. This is very important because the list of
top 100 coins keeps changing very frequently so our algorithm should be self-
adjusting.

The value of the index is calculated every 5 minutes and always done so taking
into account the realtime top 100 highest marketCap coins.

The Funfact: Today we got featured in Product Hunt as well and from now on you
don't have to follow every coins' price changes to judge whether the overall
market is bullish or bearish, rather just follow SCMS Index. Any
feedbacks/suggestions would be highly appreciated and always welcome.

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tobltobs
Hi, Looks fine. What data do you use?

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sromana14
Hi, We get the price data and ranking of different coins from the
CoinMarketCap Public API. This data is used to calculate the Crypto Market
Sentiment Index. Other than this, we also have two other products - Arbitrage
Tracker and Volatility Tracker. For those two tools we integrated APIs of more
than 100 exchanges.

