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The CPI200 token planned to be launched by Crypto Price Index (CPI) is expected to partly solve the problem of the volatility faced by analysts and traders when trying to make their forecasts on the market.

As per the press release, the CPI coin is going to be linked to the price of top two hundred coins that trade on crypto exchanges and OTC. To calculate the value of the index, a special algorithm developed by CPI is used.

A member of the CPI top management team, Sheikh Abdullah Bin Rashed Al Sharqi, says about the index:

With such intense daily volatility in the digital asset markets the CPI Index Blockchain is a welcome innovation bringing both increased stability and greater accessibility to decentralized finance.

Many traders believe CPI to be a valuable tool that saves their time and energy when they need to perform thorough research. One look they take an CPI may be quite informative, the press release states.

The team of the project has an ambitious goal of providing reliable and precise data about coins prices which will be kept on the blockchain and everyone interestedwill be able to view it easily. This data will be based on the prices of two hundred trading cryptocurrencies with the highest market capitalization.

The index gives traders and analysts insights into the trading history of the major DLT platforms. The team intends to turn into one reliable source of relevant data for crypto markets someday.

Read the original:
Peter Schiff on Bitcoin Price Drop: "Pump-and-Dumpers Are Losing Their Mojo" - U.Today