October 7, 2025 – S&P Dow Jones Indices officially launched the new S&P Digital Markets 50 Index. This index bridges traditional finance and digital assets, aiming to provide investors with a benchmark to gauge the overall performance of the global digital economy. A significant milestone within the global financial benchmark system, its launch signals mainstream institutions' accelerated efforts to standardize crypto and blockchain assets.

The S&P Digital Markets 50 Index comprises 15 major cryptocurrencies and 35 publicly listed companies related to the crypto ecosystem. It covers a broad spectrum, from on-chain assets to traditional capital markets, with the design goal of reflecting the overall health and development trends of the digital market through a unified index framework.

The launch of this index marks another breakthrough for the traditional financial system in crypto asset research. However, due to its component structure and calculation logic leaning more towards macro-level, long-term performance, it still has certain limitations in responding to real-time market fluctuations and capturing short-term capital flows. Faced with the rapidly changing crypto asset market, investors still require higher-frequency, more native data analysis tools.

Addressing this need, AIVIX independently developed the CO50 Index, constructed from a "fully on-chain perspective" to more comprehensively and reflect the core dynamics of the crypto market.

The CO50 Index selects 50 major cryptocurrencies and is calculated based on a multi-dimensional data system, including:

• On-chain fundamental data (active addresses, transaction count, fund inflows/outflows)

• Market trading dimensions (trading volume, volatility, market depth)

• Price and liquidity indicators (price trends, holder structure, stablecoin flows)

The CO50 Index is not merely a price-weighted index but a composite indicator integrating market "activity" and "health." Compared to the S&P Digital Markets 50 Index, the CO50 Index boasts the following distinct advantages:

1. Fully Crypto-Native: 100% of index components are on-chain assets, eliminating indirect exposure via traditional stocks.

2. High-Frequency & Real-Time: Supports multiple time granularities (15-min, 30-min, 1-hour, 4-hour, 1-day, 7-day).

3. Dynamic Sensitivity: Rapidly captures market capital flows, volatility intensity, and structural shifts.

4. Data Transparency: All data is sourced from publicly verifiable on-chain information.

The CO50 Index strives to become the "market barometer" for the digital asset space, enabling investors to intuitively discern market rhythms and trend directions.

Building upon the CO50 Index, AIVIX further introduced CO50 AIVIX. This index leverages AI and natural language processing to quantify unstructured data from community discussions, KOL sentiments, and media buzz, thereby constructing a "sentiment index" that reflects shifts in market psychology.

The CO50 AIVIX index works in tandem with the CO50 Index:

• When their trends align, market sentiment and capital flows are consistent, suggesting higher trend reliability.

• When a divergence occurs, it may signal localized hype, false breakouts, or risks.

Investors can use an interactive interface to view both index curves across different time granularities and compare historical data points via mouse hover to assess market synchronicity or divergence. This mechanism provides a new quantitative basis for judging market trends.

Unlike the macro perspective of the S&P Digital Markets 50 Index, the CO50 Index and CO50 AIVIX focus more on capturing micro-level changes and real-time dynamics from within the on-chain ecosystem. Together, they form an intelligent analysis framework combining On-chain Fundamentals + Market Performance + Sentiment Heat.

The CO50 Index and AIVIX are not just quantitative tools for the digital asset market; they are vital resources for investors to understand market structure, identify genuine trends, and spot convergence signals. Methodologically, they represent a leap from "static observation" to "dynamic insight," also signifying the evolution of digital asset research from data-driven to intelligent.

The launch of the S&P Digital Markets 50 Index establishes a new industry benchmark for the digital economy, while the introduction of the CO50 Index and AIVIX further expands the technical and application boundaries of this standard.

As global crypto assets accelerate towards institutionalization and intelligence, we will continue to drive the deep integration of on-chain data analysis, artificial intelligence, and market modeling to build more forward-looking and practical standards for the crypto market.