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XRP Recognized as a Blue Chip Asset in STOXX Digital Asset Blue Chip Index
Crypto researcher SMQKE highlighted a significant recognition of XRP in a recent post, citing its inclusion in the STOXX Digital Asset Blue Chip Index.
The STOXX index, as SMQKE explained, identifies “blue chip” cryptocurrencies by applying rigorous criteria, including quality, network activity, technological robustness, and financial strength.
According to the published index data, XRP is ranked third in the weighted basket of digital assets approved for institutional investment.
Key Metrics Underpinning the Index
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The STOXX Digital Asset Blue Chip Index is designed to track the performance of leading digital assets that demonstrate consistent quality and resilience. As per its methodology, the index incorporates crypto-native metrics to assess each asset.
Criteria include the age of the project, total value secured on its blockchain, number of active addresses, ongoing economic activity, and the strength of its developer community. Together, these metrics help determine the robustness and sustainability of each digital asset in the index.
The index also follows a sector-based approach, representing four of the major sectors in the digital asset market: cryptocurrency, smart contract platforms, utility, and decentralized finance. XRP falls under the “cryptocurrency” sector and is classified specifically in the “payment coin” subsector. According to STOXX data dated March 15, 2024, XRP holds a weight of 11.71% in the index, behind only Bitcoin (30%) and Ethereum (30%).
Institutional Relevance of XRP
The inclusion of XRP at such a prominent rank underscores its institutional relevance and operational viability in the eyes of the index creators. STOXX describes its index as a diversified and transparent benchmark aimed at institutional investors seeking exposure to high-quality digital assets.
The criteria applied by STOXX ensure that assets included are screened, scored, and ranked against competing options on a sector level and based on quantitative and on-chain data.
The accompanying materials from STOXX indicate that the index is constructed to reflect a diversified basket of assets that are considered “blue-chip” in terms of quality, activity, robustness, and financial strength. This positions XRP firmly within a group of digital assets viewed as dependable and mature by institutional standards.
Community Reaction
With this formal recognition, XRP continues to maintain its position as one of the most significant and widely acknowledged digital assets in the industry, particularly among institutional investors seeking exposure to resilient and established projects.
Disclaimer*: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are advised to conduct thorough research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.*