Many investors are hungry for more data on top cryptocurrencies. They want actionable stats in order to make detailed trading decisions.
That’s part of what’s behind a plan by Intercontinental Exchange, the operator of multiple exchanges including the NYSE, to set up something called the ‘cryptocurrency data feed’ in collaboration with blockchain firm Blockstream that will help to provide more transparency and context on key cryptocurrency pairs.
“The new partnership intends to provide global investors with a comprehensive tool to monitor data for the most actively and widely traded cryptocurrencies,” wrote Helen Partz at Cointelegraph today.
In tracking over 400 cryptocurrency and fiat currency pairs, traditional tracking models often struggle to find enough liquidity pools to analyze. There’s just not enough data, or not enough of the right kind of data, to build the vibrant models needed to carefully assess coin options.
With the new cryptocurrency data feed, investors will be better able to look at current and historical trade information and build insights on metrics like volume weighted average price, turnover value and open/high/low/last trades for assets by venue.
“Safe, reliable connectivity to market data is crucial for businesses,” Demetrios Skalkotos, Global Head of Connectivity for ICE Data Services, said recently, according to coverage at Medium, of the integration of new tracking tools. “Being offline drives risk — for example, getting locked into orders you can’t close or not being able to action or close orders on behalf of your customers — that can be avoided with the right solution.”
Meanwhile, Bakkt, another major ICE project, has again delayed its launch date while building a foundation for a new Bitcoin daily futures product.
People following the evolution of Bakkt show key hiring and the successful raising of $182 million in funding, but a full launch date is delayed until at least February.
“ICE … announced possible further delays to the launch of its Bitcoin futures contracts on Bakkt,” wrote Nawaz Sulemanji at Coin Rivet Jan. 2. “Previously scheduled for January 24th, the launch could now shift to February. ICE did, however, say that it will soon provide an update regarding the timings.The Bakkt platform is still undergoing the process of approval from the Commodities and Futures Trading Commission (CFTC).”
Keep an eye on what ICE and other parties are doing to roll out new crypto tools that can enhance markets.