US stock exchange Nasdaq is reportedly considering adding cryptocurrency market analytics tools to the firm’s Analytics Hub to help investors predict price movements in various cryptocurrencies.

Citing sources “familiar with the company’s plans,” Coindesk reports that the Wall Street mainstay will soon add a suite of tools for predicting and tracking cryptocurrency price movements to their staple Analytics Hub.

Nasdaq’s Analytics Hub, launched in May of 2017 and uses machine learning and natural language processing to draw data points from social media and other sources to better assess market sentiment and help investors prepare for potential impending price movements.

Currently, Nasdaq’s Analytics Hub solely focuses on traditional assets, but Nasdaq is “exploring cryptocurrency related datasets” given “the abundance of interest” around cryptocurrencies, according to Nasdaq’s head of alternative data, Bill Dague. Backtracking, Dague added that whether or not Nasdaq will launch a crypto-related product “remains to be seen.”

Coindesk’s source, however, is adamant that the new crypto analytics are in the middle of being extensively beta tested ahead of a November launch the financial giant is targeting.

Related Reading: Gemini Adopts Nasdaq Tech to Monitor Crypto Markets

The source expects the Analytics Hub will report on sentiment around nearly 500 crypto assets, looking at everything from social media, to data from exchanges, and even the flow of funds in and out of wallets.

"There's the social media sentiment part, so applying machine learning and NLP, which will start with Twitter and might include StockTwits and then eventually perhaps Reddit," the source said.

Nasdaq joins many other Wall Street firms in laying the groundwork for their eventual forays into cryptocurrency markets.