CME Group will begin publishing daily AVAX, FIL, and XTZ indexes

What’s new? The Chicago Mercantile Exchange (CME) and its index partner CF Benchmarks announced in a press release that the trading platform will begin publishing daily price indexes on Avalanche (AVAX), Filecoin (FIL), and Tezos (XTZ) tokens starting October 31. According to The Wall Street Journal, CME Group did not specify why it chose these three assets. As of October 11, AVAX ranks 17th by market capitalization among cryptocurrencies, while FIL and XTZ are 36th and 41st, respectively.

The WSJ’s material

What is known about tokens? AVAX is the native coin of Avalanche, a decentralized blockchain platform. As of October 11, 12:00 UTC, the asset is trading at $16, down by 4,25% in 24 hours, according to crypto exchange Binance. The cryptocurrency has a capitalization of $4,74 billion.

Earlier, analysts at Messari reported that in Q3, the revenue of the Avalanche network dropped by 94%. The total value locked (TVL) fell by 27,5%, and the daily volume of transactions also decreased by 65,5%.

FIL is a coin that belongs to a decentralized file storage system based on the Filecoin blockchain. The token is priced at $5,18 (-3%). The digital asset has a capitalization of $1,54 billion.

XTZ is an asset of Tezos, a Layer 1 blockchain ecosystem with support for smart contracts and the Proof-of-Stake (PoS) consensus algorithm. Tokens and DeFi applications can be created on the platform. XTZ is trading at $1,359 (-2,86%). It has a capitalization of $1,24 billion.

What is known about CME Group? The platform allows trading derivatives — futures, and options, optimizing portfolios, and analyzing data for risk management. CME Group’s exchanges offer a wide range of global reference marks across all major asset classes based on interest rates, stock indices, and currencies.

CME Group launched its first dollar-denominated BTC futures contract in December 2017, followed by an ETH futures contract in February 2021. In March 2022, the exchange also launched options futures based on BTC and ETH. In addition, CME launched euro-based futures for the same cryptocurrencies on August 29.

Also on September 12, CME launched options on ETH. The initiative was implemented just in advance of the network’s transition to PoS. CME Global Head of Equity and FX Products Tim McCourt noted that more than 1б8 million contracts had been concluded on existing ETH futures at the time.