The index is calculated and administered by Solactive AG, an independent index provider based in Germany. Solactive develops, calculates and markets indices in multiple asset classes and complies with IOSCO Principles for Financial Benchmarks. The index is owned by CoinMarketCap, an independent, unbiased provider of cryptocurrency pricing with history on over 3,000 cryptocurrencies dating back to 2013. CoinMarketCap is the most trafficked site in the world for cryptocurrency information, with over 125 million people in 2018 relying on CoinMarketCap as the most trusted reference price for cryptocurrencies.
CoinMarketCap calculates market capitalization for each cryptocurrency as “price multiplied by circulating supply.” The circulating supply metric used by CoinMarketCap accounts for locked, reserved or non-saleable coins or tokens that cannot affect the price of a cryptocurrency, and hence are not factored into a cryptocurrency’s market capitalization. Using circulating supply to determine market capitalization for cryptocurrencies is analogous to using public float to determine market capitalization of publicly listed companies.