Thompson Reuters, world’s most popular mass media company has declared a collaboration with cryptocurrency data aggregator cryptocompare in order to incorporate data for 50 cryptocurrencies.
As per the CryptoCompare’s statement, the firm will offer an order book and trade data for 50 cryptocurrencies from a wide variety of trusted exchange. The data will be incorporated into the Reuters’ financial desktop platform Eikon, which is created for Institutional investors.
Eikon offers real-time and historical data, news, analytics, and data-visualization tools which allow financial market transactions and unite the financial market community. It is a customizable tool which provides information about asset classes and instruments, along with commodities, equities, derivatives, etc.
Due to this new collaboration, Eikon users can view data of actively trading coins and also provide them with an extensive view of cryptocurrencies market as well as market behavior, allowing them to predict price movements with a great degree of possibility.
Sam Chadwick, who is the director of strategy in innovation and blockchain at Thomson Reuters stated: “Despite the decline in the price of many of the leading cryptocurrencies during 2018, we continue to see increasing demand from our customers for pricing coverage of the major names.” Thomson Reuters has been involved with CryptoCompare since the company’s engagement in the blockchain hackathon in September 2016.
Thompson Reuters was previously involved with a cryptocurrency monitoring in a separate deal with MarketPsych Data that has offered the data for trading 100 cryptocurrencies with bitcoin in its sentiment data pool from June 2018.
CryptoCompare founder and CEO, Charles Hayter as markets developed, they have observed an excitement from institutional investors:
“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.”
He further added that the collaboration offers an amazing opportunity for the institutional investor community to obtain data as well as benefit from its expertise and insight.
In March 2018, Reuters has also released Bitcoin (BTC) sentiment data feed to is MarketPsych Indices, obtaining data from 400+ news and media sites associated with cryptocurrencies.