Bloomberg, Thomson Reuters, TradingView to Add Cryptoindex

Multiple financial data providing terminals - Bloomberg, Thomson Reuters, and TradingView - will add Cryptoindex’s digital asset index, according to a Coindesk report.

According to Coindesk, the data terminal users will be able to see the top 100 performing 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, a list which gets prepared by considering social media posts and news.

Commenting on the development, VJ Angelo, CEO of Cryptoindex, said: “The index is the culmination of three decades experience in the financial services industry building indices. I have witnessed first hand the growing demand for high-quality insight into the traditionally opaque and misunderstood area of cryptocurrency, which led me to create Cryptoindex. Our index takes into account collective sentiments expressed on social media, in addition to complex data analysis of volume trades and predictive 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.”

A different type of index

The crypto index only considers digital currencies that maintained their position among the top 200 currencies for three consecutive months. In addition, to qualify for indexing, the digital assets need to be listed in multiple crypto exchanges and should have a “significant social media following.”

In addition, the Malta-registered company uses a proprietary algorithm called Zorax to analyze tens of millions of trades across nine crypto exchanges. According to the company, the algorithm analyzes 1.200 coins and incorporates over 33 Terabytes of data to extract over 200 factors.

Meanwhile, other companies are also developing crypto pricing products to serve the needs of investors. Earlier this week, Finance Magnates reported that CryptoCompare and Nasdaq partnered to launch an institution-focused crypto pricing product on Quandl, a Nasdaq-owned financial data platform.

“They are also subject to existing regulations and as such are proving very expensive on margining due to the high volatility of the market,” Angelo added. “There are also a number of crypto exchanges offering crypto derivatives, however, these aren’t always regulated. As a result, there is an opening for a properly designed and executed set of crypto derivatives in the market to meet institutional requirements. Cryptoindex will look to meet this need in the not too distant future though the precise timing isn’t yet agreed internally.”