The New Era of Crypto Futures Data
In a move that has institutional investors buzzing, crypto derivatives platform BitMEX and data provider CryptoCompare are teaming up to launch a real-time crypto futures dataset. This collaboration, announced on June 10 through a press release, is set to fill a crucial gap in the availability of reliable data for serious players in the cryptocurrency game.
Delivering Data Insights to Professionals
The new dataset is tailored specifically for those ready to dip their toes—or entire portfolios—into the murky waters of cryptocurrency futures. The resulting information will be funneled to market data provider Refinitiv, which will incorporate it into the Refinitiv Eikon platform. In other words, your financial analyst could soon have access to detailed insights about crypto futures while sipping coffee in that overly trendy co-working space.
Building Confidence Among Investors
This is no small endeavor; the goal is to boost transparency and instill confidence in potential institutional investors. BitMEX CEO Arthur Hayes emphasized that decision-making in trading hinges on solid data insights. As he put it, “When it comes to trading, good decision-making depends on access to solid data insights.” Sounds like solid advice for anyone, right?
A Chain Reaction of Institutional Interest
The partnership doesn’t just pop up out of nowhere; it follows CryptoCompare’s previous partnership with Thomson Reuters last year to provide order book and trade data on 50 cryptocurrencies on the Eikon platform. As the market matures, institutional interest has undeniably risen, and with partnerships like these, the trend is only going to grow. After all, institutional investors have a reputation for being more cautious, so showing them empirical data could entice them into the crypto playground.
The Ripple Effect of Reliable Data
The push for transparency goes beyond just this partnership. Take Nasdaq, for example, which recently added Brave New Coin’s XRP Price Index to its global data service. Previously, it welcomed the Bitcoin Liquid Index (BLX) and the Ethereum Liquid Index (ELX). All this indicates that accessible, reliable data is becoming increasingly important as institutions seek to navigate the crypto landscape.
What’s Next?
So, what does this all mean for the future of crypto trading? Well, if you’re an institutional investor, this can potentially reshape your strategy by giving you critical insights without needing to dust off that old crystal ball. As the landscape evolves, the importance of solid, real-time data for decision-making cannot be overstated. Just remember, investing in crypto still comes with its quirks; a solid dataset may aid your decisions, but it won’t replace good old-fashioned vigilance and research.
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