Shenzhen, the Shenzhen Stock Exchange (SSE), the stock exchange of China’s technology hub, unveiled an index monitoring the success of 50 blockchain companies.
The index will be based on the stocks of 50 companies listed on the SSE participating in the blockchain industry, according to an announcement on Dec 24. Based on their average daily market value over the past six months, the top 50 blockchain-related stocks are ranked. The index is updated twice a year in June and December’s second Friday.
Doing due diligence
Before index was established, SSE ensured the companies involved were actively using the technology instead of merely capitalizing on the publicity.
SSE had suspended the trading of healthcare device manufacturer Lifesense in March 2018. While conducting inquiries into the company and its allegations surrounding the implementation of blockchain. An announcement about the launch of a “blockchain laboratory” had caused. Its share price to skyrocket 10%, reaching the daily limit of the SSE.
SSE is one of two independently operated stock exchanges in China. The SSE’s market capitalization is $3.12 trillion, making it the fourth-largest in Asia. And the eighth largest in the world, according to the stock market data website trading hours. Major exchanges start listing indexes that track companies related to blockchain and cryptocurrency.
The AI-powered CIX100 index created by crypto data provider Cryptoindex was listed by Nasdaq as announced in mid-October. Nasdaq also reported a decentralized blockchain finance index called Defix in September. Which includes projects such as Amoveo blockchain proof-of-work, 0x decentralized exchange protocol and Augur prediction market.
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