Cryptocurrency data from an index that takes into account social media posts and news will soon be made available by the financial terminals of Thompson Reuters and that of Bloomberg.
Index provider Cryptoindex announced on Thursday that terminal users will now be able to view according to its rankings, the top 100 performing cryptocurrency.
Cryptoindex is made up of crypto assets and over three consecutive months, these assets have occupied a position in the top 200 and the are often most traded on multiple exchanges and have a significant social media following.
“Any trading data that has been inflated can be spotted by cryptoindex due to the way its being structured and also the rebalancing of Cryptoindex takes place on monthly basis,” the firm said.
As an additional choice for its users, ‘TradingView,’ the popular trader’s social networking and data analysis site will also be added to the index.
The CEO of Cryptoindex, VJ Angelo said:
“The index has been there for a long time is with three decades of experience in the financial services industry building indices. With our long age of experience has seen us witness first hand, the growing demand for high-quality insight into the traditionally somewhat and misunderstood area of cryptocurrency, which led me to create Cryptoindex. Our index takes into account collective sentiments expressed on social media and additionally complex data analysis of volume trades and predictive analytics as well.”
According to the firm, the Cryptoindex is built from an analysis of over 1,800 cryptocurrencies that are passed through set of filters.
Information from the company representative said that Cryptoindex sources its data from cryptocurrency exchanges, news sources and social media sites, such as Telegram, Twitter, GitHub, and etc.
“Over 200 factors that create a refined ranking in the index are extracted through the analysis of over 34 Terabytes of data and then put into a neural network to create a final rating of coins,” according to the reports.
It was soon after CoinMarketCap was also added to the Bloomberg and Reuters terminals, as well as Nasdaq that the information came onboard.
“Cryptoindex considers the needs and requirements of heavily regulated asset managers, institutional and professional investors, that’s why it’s product are structured to offer a pattern that is fully suited to capture their needs” Cryptoindex stated.
Credit: Daniel PalmerJOIN OUR COMMUNITY