Recently, the digital currency exchange and provider of cryptowallets, Abra, has made an announcement about cooperating with Bitwise Asset Management, which will enable financing of a digital currency coin for the clientele of Abra. According to the announcement, the token monitors the large capitalization digital currency index of Bitwise.
Customers of the Abra mobile application now can trade the BIT10 – Bitwise 10 Crypto Index Token. This digital currency is developed on the basis of the Bitwise 10 Large Cap Crypto Index operated by Bitwise Asset Management, the new partner of Abra. The BIT10 coin allows users to possess coins, the value of which monitors the index of ten various digital currencies with large market capitalization. Experts at Bitwise supervise the index the BIT10 is based on, in or der to make sure that the combined digital assets match the specifications.
The token is accessible only using the Abra application, wherein every token in and of itself is a representation of the price movements on the basis of the aforementioned index of ten different digital currencies. Bitwise selects these ten currencies based on their status as digital assets with large market capitalization. The selected digital currencies are subsequently managed and tweaked every month, in order to bring the most efficient combined criteria.