Cryptonica has announced via reddit that it is launching a new trading platform, synchronized to multiple exchanges and providing informative views of their order books.
They state several goals for the initiative. First, increase market liquidity “by providing traders with better tools”. This can simply mean higher volume and more trades as traders become more confident in what they’re doing. More significantly, it can tighten and strengthen the “immediate liquidity pool” by motivating more intelligent and relevant orders designed out of a well-informed view of the market.
Currently, they are only hooked up to Bitstamp. Slated for addition next are Bitfinex and Huobi. The aim is that “you should usually be able to see what is happening on Bitstamp some seconds before anywhere else”.
Second, create competition for RTBTC, which was recently renamed to ZeroBlock after being acquired by blockchain.info. And third, provide an alternative focus for trading tools, specifically the order book.
The latter is an area they feel hasn’t gotten its deserved attention in a challenging world of multiple exchanges and potentially confusing decisions for traders. In addressing this, Cryptonica introduces a couple of features: “Book Pressure” is measure of “the relative psychological/buying force” that the current buy/sell orders exert on a price point. It accounts for order size and proximity to the current price point. Traders can anticipate movements based on this pressure and potentially another measure of price “momentum”.
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There is also the color-coding of orders based on their relative weight, with more intense shades of red/green depending on the order size.
Finally, rapid trade selection and execution, such as single-clicking an order to open a trade dialog box and pre-positioned sliders for order size, will be added in the future. Such features are already common to several advanced trading platforms.
Multiple coins are in scope as well, with Litecoin and Dogecoin on the agenda for addition. Also under consideration are features like padding trades and orders based on a given distance from the current price.
Once multiple exchanges are hooked up, the platform can be potentially useful for arbitrageurs looking to compare markets and plan accordingly. However, it would still appear to lack some of the organizational capabilities found with BTX Trader, for example, which aggregates and organizes orders in a more favorable fashion for those eyeballing for arbitrage- both on its desktop and web-based platforms.
Both of the aforementioned platforms have decided to focus more on multi-exchange integration and order book optimization and less on things like technical chart indicators, for which Cryptonica has said that it will leave to places like Bitcoinwisdom.