US Federal Reserve Launches Cryptocurrency Index

Written by:
Guest
Published on:
Jun/22/2018

This week the Federal Reserve Bank of St. Louis added cryptocurrency to their Federal Reserve Economic Data (FRED) database, a sign that the digital currency is maturing.

The St. Louis Feds is one of a dozen in the system.

“FRED has added four series on the prices of different cryptocurrencies,” the St. Louis Federal Reserve posted without much fanfare this week, including “Bitcoin, Bitcoin Cash, Ethereum, and Litecoin. The price data are updated daily and span from as early as 2014 to the present. All data were obtained from Coinbase, a cryptocurrency exchange company, whose overall digital asset performance is depicted in the above graph (Coinbase Index).”

The central bank uses more than half of a million data points, derived from 81 sources.

- Aaron Goldstein, Gambling911.com

Business/Financial News

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