Altcoin Index

An Altcoin Index is a tool used to track the performance of a specific group of alternative cryptocurrencies, also known as altcoins, in the market. This index provides investors and traders with a way to compare the overall performance of different altcoins against each other, similar to how a stock market index tracks the performance of a basket of stocks.

Altcoins are any cryptocurrency other than Bitcoin, and there are thousands of them in existence. The Altcoin Index typically includes a selection of the most popular and widely traded altcoins, chosen based on factors such as market capitalization, trading volume, and overall market relevance.

By measuring the performance of multiple altcoins in a single index, investors can gain insight into the overall health and trends of the altcoin market as a whole. This can help them make more informed decisions about their cryptocurrency investments and identify potential opportunities for growth or diversification within the altcoin space.