2018-8-6 16:20 |
Investor interest in cryptocurrency is predicted to increase in the coming months despite the currently depressed crypto market. Anticipating the increasing demand for up-to-date crypto market data for its clients, Thomson Reuters recently partnered with CryptoCompare, a leading global crypto market data aggregator.
Thomson Reuters Partners With CryptoCompareThis increased interest and the entry of more investors into the crypto market will create more demand for cryptocurrency market data. The problem, according to Forbes, is that there is a lack of trusted sources of trade data for the crypto asset market, which could be a challenge for institutional investors. The same problem is also recognized by Marc Bernegger, a crypto investor and Crypto Finance Group board member, who told the publication:
“Relying on the existing crypto order books and trade data is simply not enough.”
That’s where Thomson Reuters’ partnership with CryptoCompare comes in. Under the agreement, CryptoCompare will provide order book and trade data for 50 different cryptocurrencies from various trusted exchanges. This data will then be integrated into Eikon, Thomson Reuters’ financial desktop platform.
Reliable Insights Into the Crypto MarketEikon is known as an intuitive and powerful next-gen solution for both historical and real-time financial market data, according to Finextra. The open platform can be customized to suit the needs of institutional or individual investors. Eikon has been praised for its timely financial news, analytics and visualizations, covering a diverse range of financial assets such as equities, derivatives, commodities, foreign exchange and fixed-income instruments.
The addition of CryptoCompare’s data will upgrade Eikon’s services and make it relevant to the crypto crowd. The platform will now be able to provide more reliable insights to the crypto market as a whole, which could help them predict price movements more accurately.
Talking about the partnership, CryptoCompare CEO and founder Charles Hayter explained:
“As the digital asset markets mature, we see a fast-growing demand from the institutional investor community for comprehensive, real-time and global market data, which can be trusted as the basis for investment decisions. We are excited to enter into this partnership with Thomson Reuters, as we have always sought to provide transparency to this market. This partnership provides a great opportunity for the institutional investor community to access not only our data but also to benefit from our experience and insight.”
With Eikon’s partnership with CryptoCompare, platform users will now be able to view real-time data for actively traded cryptos. This, in turn, could help them spot trends and act on buy-and-sell opportunities the moment they arise. Eikon’s data could be a very useful tool for investors and traders in managing their portfolios.
Thomson Reuters Partners With Cryptocompare to Provide Clients With Up-to-date Crypto Market Data was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.
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