Connect with us

Blockchain

Cointelegraph launches Markets Pro crypto intelligence platform, powered by The TIE

Republished by Plato

Published

on

Cointelegraph Markets Pro, a data platform designed to level the playing field for cryptocurrency market participants, is now available to the public following a successful live testing period.

The platform, which has been in development for a year, is the result of exhaustive analysis of the crypto markets and the key drivers of asset price movements. It was developed jointly by Cointelegraph and The TIE, a leading provider of crypto data, analytics and software that counts major hedge funds, market makers and over-the-counter desks among its clients.

Testing the VORTECS Score

At the heart of the platform is the VORTECS Score, which compares current market conditions for over 130 crypto assets to historically similar marketscapes. A proprietary algorithm analyzes those historic conditions, seeking consistent patterns in market behavior in the following days.

“Even if crypto markets may seem volatile, the volatility often demonstrates remarkable consistency,” said Cointelegraph CEO Jay Cassano. “While we’re all aware that past performance is not indicative of future results, the Markets Pro platform combines sentiment analysis and social media activity with real-time market conditions in a way that allows us to create very specific models.”

 “History doesn’t predict, but it can be deeply informative.”

VORTECS beta testing delivered compelling results, according to Joshua Frank, CEO of The TIE.

“We tested every score that crossed a certain threshold in our live beta phase,” explained Frank. “When the VORTECS score for a particular crypto asset crossed 70, we saw an average price increase of 7.61% over the next 24 hours, and 25.9% over the next seven days.”

Frank noted that when scores that crossed the 80 threshold, asset gains were 8.58% over the next 24 hours — and 28.2% over the following week.

“Of course, since most crypto traders are rotating into other assets such as Bitcoin, the real measure of success during a bull market is whether or not assets that crossed these thresholds delivered gains against the entire crypto market,” continued Frank. 

“And in fact, that’s exactly what happened — over the course of a week, 70-scored assets gained an average of 21.3% vs. the universe of coins, rising to 23.8% for assets that scored over 80.”

Breaking NewsQuakes deliver headlines faster

Cointelegraph Markets Pro also features NewsQuakes, a comprehensive headline news aggregator believed to be the fastest in the cryptocurrency industry.

“We’ve been working with The TIE for a year to identify and isolate the most important price drivers in the news cycle,” explained Cointelegraph editor-in-chief Jon Rice.

“Token burns, exchange listings, partnerships and staking announcements are among the headlines that tend to move markets. The Markets Pro platform uses AI to sift through the thousands of sources we analyze every minute, delivering key insights into these events directly to Markets Pro subscribers — often within seconds.”

Rice suggested that when a cryptocurrency asset is listed on Coinbase, for example, it often sees rapid and significant price appreciation. “These announcements can deliver swift returns to traders who pick up on them quickly,” he said.

“For instance, our NewsQuake system delivered the news of the Filecoin listing in December within a minute of the announcement — and almost 60 seconds before the Coinbase team tweeted. That window matters to traders.”

Rice also noted that for many foreign exchanges, the time between an announcement in the exchange’s native language and an English version can be far greater, but that the NewsQuake service supports multiple languages and translates them in real time.

Market intelligence for everyone

Markets Pro subscribers also gain access to community features. Managed by teams from both Cointelegraph and The TIE, members can join the discussion with fellow enthusiasts, share strategies and ideas, and access unique research from the experts.

Cassano hopes that the combination of real-time news and algorithmic modeling makes the crypto markets more accessible to investors of all stripes. “We’ve witnessed a global surge in interest in cryptocurrencies, as well as a realization that the information asymmetries inherent in existing financial markets tend to be stacked against the average investor. I hope that Markets Pro can help level that playing field in the crypto industry.”

Frank echoed the sentiment, expressing that “When we initially set out to build The TIE more than three years ago, we had one singular goal: to enable millions of everyday investors around the globe to make more informed decisions with trusted and transparent cryptocurrency data. The challenge was synthesizing the billions of data points we captured, and sharing intelligence that is actionable and insightful for everyone.”

cointelegraph markets pro is available here

Source: https://cointelegraph.com/news/cointelegraph-launches-markets-pro-crypto-intelligence-platform-powered-by-the-tie

Blockchain

Déjà vu: Ethereum’s First Month of CME Futures Overwhelmingly Bearish

Republished by Plato

Published

on

Futures contracts allow institutional investors to hedge against future price movements of an asset with the possibility of shorting them. Just like with Bitcoin, the Chicago Mercantile Exchange launched its products when Ethereum was trading on its way to an all-time high.

It is unsurprising then that the first month of trading futures has been bearish as the asset’s price has retraced heavily and those shorting it on CME would have been correct to do so.

Déjà vu For Crypto Futures

CME launched its Ether futures on Feb. 8, and at the time the asset was trading at around $1,600. As reported by CryptoPotato at the time, a bearish reaction was expected.

Ethereum prices hit an all-time high of $2,050 on Feb. 21, but have corrected by 30% since then to today’s prices of around $1,450 – 10% lower than when the futures were launched.

ETH has underperformed BTC since the CME futures launch but a similar situation occurred with BTC, which underperformed ETH after its CME futures launch.

When Bitcoin futures were first launched in December 2017, the asset hit an all-time high a week or so later then pulled back heavily resulting in a similar effect on futures markets. Exactly the same has happened with Ethereum a little over three years later.

Of course, BTC has recovered and entered a new bull market and the same will happen with Ethereum regardless of how deep this correction goes.

In terms of volumes, the CME is reporting its highest ever day as Feb. 23 with 2,092 contracts traded. That volume has slumped to around 749 contracts on Feb. 26.

Longer-term contracts are likely to be bullish as the rollout of ETH 2.0 and the growth of staking opportunities is likely to push ETH prices to new highs whilst alleviating those epic transaction cost issues.

Ethereum Price Outlook

Currently, Ethereum has gained 4% on the day but has declined almost 30% since its peak last weekend. The asset fell to a monthly low of $1,300 on Feb. 28 but has since recovered a little to trade back over $1,400 again at the time of press.

There is strong support at current levels so ETH needs to remain above it to maintain the current momentum. A fall below could see ETH settle at just over $1,200 but a sustained move higher would need to see resistance at $1,600 broken again.

SPECIAL OFFER (Sponsored)
Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO35 code to get 35% free bonus on any deposit up to 1 BTC.

You Might Also Like:


Source: https://cryptopotato.com/deja-vu-ethereums-first-month-of-cme-futures-overwhelmingly-bearish/

Continue Reading

Blockchain

Kraken Daily Market Report for February 28 2021

Republished by Plato

Published

on


Overview


  • Total spot trading volume at $1.82 billion, down from the 30-day average of $2.06 billion.
  • Total futures notional at $594.6 million.
  • The top five traded coins were, respectively, Bitcoin, Ethereum, Cardano, Tether, and Polkadot.
  • Most coins had losses, but Storj ended +1.9% over USD.

February 28, 2021 
 $1.82B traded across all markets today
 Crypto, EUR, USD, JPY, CAD, GBP, CHF, AUD 
XBT 
$44187. 
↓4.0% 
$675.3M
ETH 
$1337.0 
↓8.0% 
$357.2M
ADA 
$1.2216 
↓7.1% 
$266.9M
USDT 
$1.0003 
↓0.06% 
$159.7M
DOT 
$30.816 
↓7.7% 
$76.2M
USDC 
$1.0000 
↑0.0% 
$26.0M
LTC 
$158.32 
↓7.7% 
$24.1M
XRP 
$0.4102 
↓5.8% 
$20.9M
LINK 
$23.667 
↓9.6% 
$19.5M
KSM 
$197.06 
↓14% 
$12.2M
XLM 
$0.3923 
↓10% 
$11.9M
XDG 
$0.0467 
↓6.5% 
$11.1M
BCH 
$445.77 
↓7.7% 
$9.05M
FLOW 
$20.565 
↓0.04% 
$8.9M
ALGO 
$0.9922 
↓9.4% 
$8.41M
GRT 
$1.4982 
↓11% 
$6.79M
UNI 
$21.239 
↓9.5% 
$6.4M
XMR 
$209.91 
↑0.2% 
$6.22M
XTZ 
$3.2894 
↓9.4% 
$5.84M
DAI 
$1.0014 
↓0.0% 
$5.46M
ATOM 
$17.059 
↓10% 
$5.25M
AAVE 
$309.75 
↓6.8% 
$5.13M
DASH 
$190.75 
↓9.4% 
$3.95M
FIL 
$35.897 
↓5.2% 
$3.37M
YFI 
$28850. 
↓8.1% 
$3.26M
EOS 
$3.3847 
↓7.7% 
$2.85M
TRX 
$0.0438 
↓5.6% 
$2.79M
ZEC 
$112.46 
↓6.1% 
$2.5M
SNX 
$16.848 
↓10% 
$2.34M
QTUM 
$4.7348 
↓10% 
$2.19M
ICX 
$1.3552 
↓11% 
$1.9M
BAT 
$0.4747 
↓7.6% 
$1.87M
SC 
$0.0090 
↓9.8% 
$1.74M
NANO 
$4.8697 
↓5.1% 
$1.6M
COMP 
$365.42 
↓8.5% 
$1.42M
CRV 
$1.6987 
↓13% 
$1.4M
WAVES 
$8.6036 
↓10% 
$1.37M
STORJ 
$0.6465 
↑1.9% 
$1.34M
OMG 
$4.0980 
↓8.4% 
$1.16M
OXT 
$0.4319 
↓7.4% 
$1.0M
ETC 
$10.078 
↓9.0% 
$866K
MANA 
$0.2276 
↓9.7% 
$845K
KAVA 
$3.1622 
↓14% 
$787K
LSK 
$2.6988 
↓12% 
$765K
KNC 
$1.5027 
↓11% 
$602K
ANT 
$3.6684 
↓13% 
$590K
GNO 
$117.07 
↓8.3% 
$533K
PAXG 
$1741.7 
↓0.3% 
$498K
KEEP 
$0.2902 
↓7.5% 
$457K
REP 
$29.205 
↓7.2% 
$413K
BAL 
$32.795 
↓11% 
$281K
MLN 
$35.873 
↓1.3% 
$217K
REPV2 
$24.055 
↓11% 
$115K
TBTC 
$47281. 
↓1.8% 
$51.9K


#####################. Trading Volume by Asset. ##########################################

Trading Volume by Asset


The figures below break down the trading volume of the largest, mid-size, and smallest assets. Cryptos are in purple, fiats are in blue. For each asset, the chart contains the daily trading volume in USD, and the percentage of the total trading volume. The percentages for fiats and cryptos are treated separately, so that they both add up to 100%.

Figure 1: Largest trading assets: trading volume (measured in USD) and its percentage of the total trading volume (February 28 2021)

Figure 2: Mid-size trading assets: (measured in USD) (February 28 2021)

Figure 3: Smallest trading assets: (measured in USD) (February 28 2021)


#####################. Spread %. ##########################################

Spread %


Spread percentage is the width of the bid/ask spread divided by the bid/ask midpoint. The values are generated by taking the median spread percentage over each minute, then the average of the medians over the day.

Figure 4: Average spread % by pair (February 28 2021)



.


#########. Returns and Volume ############################################

Returns and Volume


Figure 5: Returns of the four highest volume pairs (February 28 2021)


Figure 6: Volume of the major currencies and an average line that fits the data to a sinusoidal curve to show the daily volume highs and lows (February 28 2021)



###########. Daily Returns. #################################################

Daily Returns %


Figure 7: Returns over USD and XBT. Relative volume and return size is indicated by the size of the font. (February 28 2021)



###########. Disclaimer #################################################

The values generated in this report are from public market data distributed from Kraken WebSockets api. The total volumes and returns are calculated over the reporting day using UTC time.

Source: https://blog.kraken.com/post/8078/kraken-daily-market-report-for-february-28-2021/

Continue Reading

Blockchain

Crypto Exchange Mistakenly Sold Bitcoin for $6,000: Now Requests Users To Return It

Republished by Plato

Published

on

What started out as a normal trading day for some PDAX customers led to a favorable turn of fortune, or so it seemed. Their euphoria may have been short-lived by a harsh reality check as the Philippine-based exchange prepares to take legal actions.

Philippine Digital Asset Exchange (PDAX) suffered a flaw that led to bitcoin trading 88% below its actual price. The exchange reported that a surge in trading activity was the cause. At the time, bitcoin was trading north of $50k, but traders were able to scoop some for $6k.

Although PDAX halted operations to fix the glitch, it was a bit too late by then. Some users capitalized on the loophole and withdrew bitcoins out of the exchange.

To avert the massive loss, PDAX has asked traders to return its bitcoin or risk facing legal proceedings. Many users claim to have received messages to this effect.

It remains unclear how the legal proceedings will play for PDAX, with users rightly pointing out that traders’ actions are within the agreed terms and conditions.

Bitcoin Whale Responsible For Glitch?

Large volume transactions have become the order of the day as bitcoin whales step up activity. Their mass transactions often indicate strong bullish signals unless they get hooked while at it.

Reports surfacing on social media led to strong suggestions that the entire fiasco occurred due to an error by a bitcoin whale. who allegedly sold 316,000 BTC for PHP 300k (about $6100) instead of the actual price of PHP 2.3 million ($47,000). This prompted PDAX to cease trading activity and temporarily shut out users.

Users Outraged By Inability To Access Accounts

PDAX’s attempt to control the situation turned out to be counterproductive as it sparked outrage from many users on social media. The downtime, which lasted for 36 hours, left customers furious as they could not access their accounts.

They expressed frustration due to missed trading opportunities and accrued losses from not being able to close positions.

PDAX Clears The Air

PDAX eventually released a comprehensive report addressing the issue. It claimed that an “isolated unfunded order” infiltrated its system and affected the account of its users. It explained further that it had tracked and rectified the glitch and was in the process of fully restoring users’ accounts.

Speaking in a press conference, PDAX CEO Nichel Gaba said:

“It’s very understandable that a lot of users will feel upset they were able to buy what they thought an order was there for Bitcoin at very low prices. But unfortunately, the underlying Bitcoins were never in the possession of the exchange, so there’s never really anything there to be bought or sold, unfortunately.”

The BSP-licensed exchanged assured users that it will continue addressing their concerns and rendering support where necessary.

SPECIAL OFFER (Sponsored)
Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO35 code to get 35% free bonus on any deposit up to 1 BTC.

You Might Also Like:


Source: https://cryptopotato.com/crypto-exchange-mistakenly-sold-bitcoin-for-6000-now-requests-users-to-return-it/

Continue Reading
Blockchain3 days ago

Gemini collaborates with The Giving Block and others, adds donations option

Blockchain3 days ago

NextGen Blockchain Platforms Self-Organize to Win Government Contracts

Blockchain5 days ago

Crypto Lending Explained 2021

Blockchain4 days ago

BitMEX adding six new perpetual contacts: ADA, DOT, EOS, YFI, UNI, and XLM

Blockchain3 days ago

What Coinbase Going Public Could Do For Crypto

Blockchain4 days ago

Traditional Banks get serious about enabling crypto-related services

Blockchain3 days ago

Crypto Investment Fund to Sell $750M in Bitcoin for Cardano and Polkadot

Blockchain5 days ago

Trailing Take Profit Explained

Blockchain5 days ago

World’s First Bitcoin ETF Records Stellar Growth, AUM Crosses Half A Billion Dollars

Blockchain4 days ago

Traders remain bullish even as DeFi’s TVL falls to $54.4 billion

Blockchain5 days ago

MicroStrategy Completes Another $1 Billion Bitcoin Buy

Blockchain5 days ago

All of the Federal Reserve’s wire and ACH systems are down

Blockchain2 days ago

This was avoidable – The lost Bitcoin fortunes

Blockchain5 days ago

Sam Bankman-Fried: The crypto whale who wants to give billions away

Blockchain4 days ago

Craig Wright Sues Bitcoin Developers Over Stolen BTC Worth $5 Billion

Blockchain2 days ago

Economist warns of dystopia if ‘Bitcoin Aristocrats’ become reality

Blockchain4 days ago

Tatum helps donation-based betting app Fandona complete its blockchain MVP

Blockchain4 days ago

ZelaaPayAE deploys Pundi X’s merchant crypto payment solutions for UAE

Blockchain4 days ago

Tezos, IOTA, Dash Price Analysis: 25 February

Blockchain4 days ago

Coinbase public listing filing details 2020 revenue, major a16z stake

Trending