Coinbase adds new data tools for traders

Posted 18 July, 2019

Coinbase, the largest US cryptocurrency exchange, announces three new tools that provide specific information for conducting highly efficient smart trading with digital assets.

New tools for cryptocurrency trading were announced in the official blog Coinbase. The company announces that "exclusive trading data" that can help both experienced stock traders and beginners are available for free on Coinbase(dot)com.

"Our goal is to provide accurate, objective measurements of cryptocurrency usage based on the aggregated and anonymized activity of millions of Coinbase customers. These insights are only available to customers signed in to Coinbase — and they are the first of their kind in crypto." - indicated in the post. 

The set of signals, including new and traditional ones supplied by the exchange will enable users to form a cryptocurrency portfolio using new information that is not based on asset price data.

As the company wrote in the report, the first signal is active top traders exchange. In particular, when generating a signal, information about trading activity (per day) of the largest cryptocurrency owners registered on Coinbase, included in the first 10% of the account balances, is used. Update every 2 hours.

The next signal will be the average time to hold the cryptocurrency. It is calculated using the average number of days during which the cryptocurrency was on the client’s wallet without movement.

"The typical hold time signal is the median number of days an asset stays in a Coinbase customer’s account or vault before it’s sold or sent to another address or wallet," the company explained.

And the last signal is said to be price correlation, which "can help [traders] assess the historical diversity of your portfolio and assess potential risk exposure."

The developers of signals from Coinbase believe that the introduction of additional information will increase the efficiency of investment and increase the degree of confidence in cryptocurrency.

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