Bloomberg Terminal Adds Ethereum, Litecoin, Ripple

In a span of twelve months, Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term have gone from fringe asset to one of the hottest inclusions amongst retail brokerages and exchanges. The hype is real, and heading into 2018 Bloomberg has clearly recognized this trend, adding Ethereum, Litecoin and Ripple to the Bloomberg Terminal.

Bloomberg Terminal is arguably the most widely used data provider available, providing breaking news, research, Analytics Analytics Analytics may be defined as the detection, analysis, and relay of consequential patterns in data. Analytics also seeks to explain or accurately reflect the relationship between data and effective decision making. In the trading space, analytics are applied in a predictive manner in an attempt to more accurately forecast the price. This predictive model of analytics generally involves the analysis of historical price patterns that are used in an attempt to determine certain price outcomes. Analyt Analytics may be defined as the detection, analysis, and relay of consequential patterns in data. Analytics also seeks to explain or accurately reflect the relationship between data and effective decision making. In the trading space, analytics are applied in a predictive manner in an attempt to more accurately forecast the price. This predictive model of analytics generally involves the analysis of historical price patterns that are used in an attempt to determine certain price outcomes. Analyt Read this Term, and other execution capabilities bundled into one cohesive solution. However, one of the key blind spots on the terminal for much of 2017 was in the crypto space, a reality that the group has opted to address with the new addition of leading altcoins.

While Bitcoin has captured most of the focus during the year, the rapid rise of other altcoins have also helped kindle interest in the space. Bitcoin remains the largest cap cryptocurrency with nearly $300 billion, though Ethereum, Litecoin, and Ripple have quickly emerged as viable players.

These altcoins has been embraced by both retail and institutional investors, which explains their steady inclusion onto leading broker platforms and institutional venues. The addition of Ethereum, Litecoin, and Ripple to Bloomberg Terminal are an obvious nod to foreign exchange (FX) traders looking to get exposure to these instruments.

Indeed, these coins are all trading at record highs, with their high levels of volatility making them ideal instruments for traders. Their addition to Bloomberg Terminal also shores up the solution’s focus on the crypto space, as the altcoins are distinctly different in nature from Bitcoin. Bitcoin is already included on the Terminal.

Moving forward it seems plausible that the Bloomberg Terminal may add even more cryptos to its offering, as the market cap of other cryptos continue to rise. The market cap of Ethereum ($63.0 billion), Litecoin ($14.6 billion), and Ripple ($28.8 billion), along with Bitcoin, now reflect the most widely traded cryptocurrencies.

These altcoins constitute the most substantial cryptos to date, which along with Bitcoin, reflect the most diverse exposure for investors. Time will tell which other coins will make the leap.