Cryptocurrency data provider CryptoCompare partners with NASDAQ to offer Institutional grade data
Leading Cryptocurrency index and data provider CryptoCompare announced its partnership with the second largest exchange in the US Nasdaq on Tuesday. As part of the partnership, CryptoCompare will be providing a Cryptocurrency pricing product which will be made available on Quandl, a Nasdaq owned data platform for professional investors.
According to a press release shared with Blockmanity, “The new product will enable institutional investors to monitor the nascent digital asset class and assess investment opportunities using a trusted data source.”
The new data sets released by the Nasdaq and CryptoCompare partnership is intended to enhance institutional capabilities in the “cryptocurrency markets across trading strategy, quantitative research, risk modeling, NAV calculations, and back-testing.”
Charles Hayter, Co-Founder and CEO of CryptoCompare, said:
“We are delighted to partner with Nasdaq on a joint Aggregate Crypto Reference Prices product. Reliable data is the bedrock of transparent, liquid markets and by bringing our high quality, granular dataset to a global institutional client base, via the Quandl platform, we will give traders and investors a competitive edge.”
There is a lack of quality and standardized data in the Crypto markets, a recent report by Bitwise suggests that 95% of the trading volume reported on Coinmarketcap is fake. Institutional investors would require high quality and accurate data to take the best investment decisions, Nasdaq seems to be taking the initiative towards achieving better price discovery in the Crypto space.
Disclaimer: Blockmanity is a news portal and does not provide any financial advice. Blockmanity's role is to inform the cryptocurrency and blockchain community about what's going on in this space. Please do your own due diligence before making any investment. Blockmanity won't be responsible for any loss of funds.
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