LedgerX is a cryptocurrency asset manager directed by the United States Commodity Futures Trading Commission (CFTC). The official press release shared with Cointelegraph describes how the index is formed:
“The LXVX incorporates the level of fear and uncertainty in the bitcoin market, and thus can be thought of as the “bitcoin fear index,” in the same way the VIX is commonly referred to as a stock market fear index by market commentators.”
As specified by the press release, the company will draw the information for LXVX from the Bitcoin options product that it already serves to its customers.
Juthica Chou, LedgerX’s COO has said that the new index can assist traders and investors to monitor risk. Chou also stated that LXVX is presently down by about 20 percent from the beginning of the year.
While LXVX isn’t a tradeable product as of right now, making it one is supposedly part of the company’s schemes for the future.
As Cointelegraph published in May 2018, LedgerX has released the first-ever CFTC-licensed Bitcoin savings product.
Join the Evolution and get your Bitex Card Now!
ICO is live and we are growing bigger