New Free Data-Based Trading Signals by Coinbase
San Francisco-based digital currency exchange Coinbase stated about the release of the free trading data signals for the users, the official blog writes.
Coinbase offers 3 new trading signals – top holder activity, typical hold time and popularity, and price correlation. The data is exclusively accessible on the exchange and is intended to allow the users develop and control their individual crypto-asset strategy on their own.
Top holder activity signal tells how the major crypto owners on Coinbase have lately traded. This information will be updated about every 2 hours. The typical hold time and popularity signal presents the average quantity of days that a particular crypto is held before being moved through new transaction and the amount of users who hold a certain crypto coin. Price correlations enables to evaluate the portfolio’s historic diversity and possible risk exposure.
The exchange notes that the main purpose of these signals is to deliver proper target measurements of how crypto coins are used on the basis of the summed anonymous activity of the exchange’s millions of users.
As reported by Coinbase, these signals are the 1st of their kind in cryptocurrency sphere and will be provided with already available traditional market data.