Altcoin News: Reuters and Bloomberg Will Add 100 Cryptocurrency Price Index to Their Terminals

June 14, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

Financial terminals Thomson Reuters and Bloomberg will provide data of 100 cryptocurrencies from the Cryptoindex index, which also takes into account statistics of cryptocurrency exchanges, news sites, and social networks.

The index provider stated that terminal users will be able to view data on the top 100 cryptocurrencies, according to the Cryptoindex rating. The index consists of cryptocurrencies that “almost always traded on multiple exchanges” and have a “significant social media following.”

It is reported that Cryptoindex is rebalanced on a monthly basis and is intended to identify spot data that have been artificially inflated. TradingView analytical platform will also add an index as an additional option for its users. Cryptoindex CEO VJ Angelo noted:

“The index is the culmination of three decades experience in the financial services industry building indices. I have witnessed first hand the growing demand for high-quality insight into the traditionally opaque and misunderstood area of cryptocurrency, which led me to create Cryptoindex. Our index takes into account collective sentiments expressed on social media, in addition to complex data analysis of volume trades and predictive analytics.”

According to the company, Cryptoindex is built on the basis of data analysis of more than 1,800 cryptocurrencies that pass through a set of filters. The company also reported that data is collected on cryptocurrency exchanges, news sites and on social networks such as Twitter, Telegram and GitHub.

“Over 33 Terabytes of data is analysed to extract over 200 factors that create a refined ranking in the index, which is then put into a neural network to create a final rating of coins,” the release state.

The company claims that its product offers

“a methodology fully suited to the needs and requirements of heavily regulated asset managers, institutional and professional investors.”

Note that last May Thomson Reuters launched the price index of six cryptocurrencies in order to increase the efficiency and transparency of operations for cryptocurrency investors in the global market.

Author: Marko Vidrih