What if crypto exchange users were able to get their hands on meaningful market sentiment data free of charge? It appears that this is now possible and would give traders a competitive edge as crypto trading is completely dependent on news and the market sentiment.
Access To Data
Today, CoinMetro becomes the first crypto exchange to offer market sentiment data used by hedge funds. Kevin Murcko, founder and CEO at CoinMetro says; “Big funds have had access to data of traders that is not accessible to retail traders. Essentially using the retail traders’ data to trade against them. As bitcoin came with the promise of democratizing finance, this here is democratizing data. This data would usually not be available for the little guys. Barriers to entry are really high usually due to cost. We are giving this to all of our users for free. Because we feel they have a right to it”.
CoinMetro has integrated with The TIE – the premiere provider of alternative data for digital assets. The TIE is a cryptocurrency focused spin-off of Social Market Analytics (SMA), an official Twitter partner and the leading provider of sentiment data across traditional asset classes. In traditional markets SMA provides sentiment data to leading financial firms including Fidelity, CME, ETrade, Sequoia, and Barclays.
The TIE actively provides actionable market intelligence to many of the leading quantitative hedge funds and asset managers within the digital asset space. For the first time many of those actionable metrics are being made available to the public on the CoinMetro platform.
As of today, The TIE will provide raw actionable data to investors on CoinMetro, the licensed crypto exchange platform based out of the agile startup capital Tallinn. CoinMetro was founded by leaders from the forex industry to provide the best trading experience for the crypto market. This integration will provide signals for CoinMetro’s traders based on market sentiment, showing potential bullish or bearish sentiment. As the crypto markets are largely moved by the wisdom of the crowd and news, actionable data can provide traders with an advantage.
Smart Investing on CoinMetro
Unlike equities, cryptocurrencies don’t have earnings, revenues, or dividends. There are no universally accepted fundamental valuation mechanisms that investors can use to determine the fair market value of a particular cryptocurrency. Cryptocurrency movement is predominantly driven by the wisdom of the crowd and investor sentiment.
Leveraging access to the Twitter Firehose, The TIE parses through nearly one billion tweets per day, leveraging proprietary machine learning and natural language processing technology to quantify cryptocurrency investor sentiment and produce actionable insights. For the first time, individual…