Argo Blockchain temporarily halts trading on NASDAQ
Nasdaq has announced the launch of a new index ‘decentralized Finance Index’ that focuses on blockchain projects and related decentralized financial ecosystem.
Nasdaq, the New York-based second-largest stock exchange in the world, has now increasingly shown its support to the decentralized currency industry. In what could be termed as an acceptance of the emerging cryptocurrency revolution, this latest index also represents the increasing dominance of the blockchain in the economy. This move comes after Nasdaq added Ether and Bitcoin indexes in early 2019.
A brokerage firm in London called Exante is credited for this index launch. It follows the performance of many renowned blockchain projects from the cryptocurrency realm. These include notable names such as Amoveo, Augur, 0x and many more. The Nasdaq ticker for the index reads ‘DEFX’ (Decentralised Finance Index).
Decentralized Finance Index is going places
Exante is a well-known name in the decentralized finance arena. It had the advantage of starting early in the cryptocurrency world when in 2012 it launched a Bitcoin fund. Over the years, it has delivered an amazing return of 70,000 percent, and it was pronounced as the ‘most profitable hedge fund in history’ by Bloomberg.
Exante isn’t limited to premium crypto such as Bitcoin but also takes part in the altcoins realm. Previously, it started the XAI fund that focused on the famous alternative cryptocurrencies. It was backed by real cryptocurrencies including Ethereum Classic, Zcash, Litecoin, and XRP, etc. Bitcoin was deliberately ignored so that fund becomes more diversified.
The DEFX fund is aimed at helping new investors gain exposure to the decentralized finance realm with minimal risk. With powerful Nasdaq channels working in the background, a more structured approach towards the blockchain projects can be achieved. DEFX has already been listed by the financial assets tracking platform.
After facing stiff competition from the cryptocurrency exchanges, this move is seen by many as an acknowledgment of the increasing blockchain supremacy by the Nasdaq. Already, Nasdaq Global Index Data Service (GIDS) delivers real-time information about the Ethereum Liquid Index and the Bitcoin Liquid Index.
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