CryptoCompare, a cryptocurrency market data aggregator, recently announced its partnership with the Thomson Reuters Corporation to "integrate order book and trade data for 50 coins" with Eikon, the information giant's finance platform. According to the announcement, the data will come from exchanges that the aggregator trusts to provide reliable market information. At this time, the crypto-assets to be covered and the specific data sources have not been identified.
With the addition of the data, investors and traders using Eikon could track active crypto-assets. This monitoring could potentially allow users to predict price movements, identify buy and sell opportunities, and broaden their portfolios of digital assets.
Sam Chadwick, director of strategy in innovation and blockchain at Thomson Reuters, is enthusiastic about the company's partnership with CryptoCompare:
"Despite the decline in the price of many of the leading cryptocurrencies during 2018, we continue to see increasing demand from our customers for pricing coverage of the major names. We have been engaged with CryptoCompare since their involvement in our blockchain hackathon in September 2016, and continue to be very impressed by their approach to coverage of these challenging markets."
CryptoCompare seeks to provide comprehensive data for the growing cryptocurrency market. The company's CEO and founder, Charles Hayter, hopes investors on Eikon will benefit from CryptoCompare's "experience and insight." The organization prides itself on purportedly offering "the most accurate live prices, charting and market analysis from 65 of the top crypto exchanges globally."
This isn't the first time Thomson Reuters has demonstrated an interest in cryptocurrency and blockchain development. In September 2016, the company hosted a three-day HackETHon in London with the Ethereum Foundation. On June 14, 2017, the corporation announced the release of a blockchain market data plugin, BlockOne IQ. Chadwick spoke at Devcon3 last year about this platform and its role in helping the company become an oracle for Ethereum.
In March of this year, Thomson Reuters unveiled its plans for a bitcoin "sentiment data feed" so that investors and traders could monitor general attitudes about the cryptocurrency across social media and news outlets. The information company expanded this feed in June to track the top 100 cryptocurrencies.