• The S&P 243-Coin Crypto Index excludes Dogecoin

  • The S&P just published a list of the 243 crypto assets that are included in its index, and Dogecoin is not one of them. Dogecoin was neatly left off of the index that featured the leading coins in the crypto market. A coin that is presently ranked 8th in terms of market capitalization among the main cryptocurrencies.

    S&P Indices released five indexes, one of which was a crypto index. Both well-known and lesser-known protocols were included in the S&P Cryptocurrency Broad Digital Market (BDM) Index.

    Given the name it has given itself, Dogecoin’s omission is surprising. However, it appears that the meme project did not match S&P’s requirements for compiling the index.

    Other significant coins and projects, such as Monero, were not included. Ripple (XRP) and Bitcoin Cash (BCH) were also excluded from the index.

    Inclusion Policies at S&P

    The reason for Dogecoin’s exclusion has nothing to do with anything nefarious or malevolent. Before a coin is included in the S&P Indices, it is reviewed by an oversight committee to ensure that it fits the governance standards. If a coin does not correlate to certain governance metrics, this committee can remove it from the index.

    The S&P’s governance documents detail the reasons for a coin’s exclusion from the index. One reason a coin might have been left out is that it is an “unregistered security.” Coins with “privacy features” or “possible market disruption” are among the others.

    Dogecoin and Monero would be excluded if these governance metrics were used. Given that the former is a funny coin developed as a meme. Monero, on the other hand, is a privacy coin. This was clearly in violation of the governance metrics used to select these currencies.

    It’s because the project doesn’t have a Whitepaper, according to a source familiar with S&P’s selection procedure.

    Eligibility for Dogecoin

    Dogecoin’s developers admitted that the concept was conceived as a joke. The coin, which was a fork of Litecoin, was intended to be a lighthearted and enjoyable enterprise. In contrast to the Bitcoin core project and community.

    Dogecoin was never intended to be anything more than a Reddit and Twitter tipping system for rewarding innovation. However, the involvement of renowned personalities such as Elon Musk in the project has seen the coin price skyrocket in the last year.

    Dogecoin’s current “Whitepaper” is more of an extension of the project’s comic tone than a genuine Whitepaper.

    With a market capitalization of $24 billion, Dogecoin is presently trading at $0.185.

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