By
Mayowa Adebajo
April 24th, 2024
The Aggregate Crypto Reference Prices from Nasdaq and CryptoCompare provides a trusted data source to institutional investors to analyze and assess any potential investment opportunities in the crypto market.
The world’s second-largest stock trading platform Nasdaq is making all attempts to bring institutional players in the crypto market. Although Nasdaq is yet to launch any crypto-related trading product of its own, reports suggest that it is experimenting a few. In April 2019, CoinSpeaker reported of Nasdaq testing a Bitcoin-trading product.
The latest report is that Nasdaq has entered a strategic partnership with CryptoCompare to launch a new cryptocurrency pricing product called the Nasdaq/CryptoCompare Aggregate Crypto Reference Prices. CryptoCompare is one of the industry’s leading players for providing crypto-data and indices.
Providing Valuable Insights Into the Crypto Market
The new product of these two companies aims to attract institutional players to the crypto sector by offering a trusted data source for the digital asset class along with assessing any investment opportunities. The product will be available on Nasdaq’s leading-edge data platform Quindl which is a one-stop source for investors for all the economic, financial, and alternative datasets.
The Aggregate Crypto Reference Price by Nasdaq and CryptoCompare is likely to boost up the institutional capabilities in the crypto market by providing valuable insights on trading strategies, risk modeling, quantitative research, NAV calculations, etc. CryptoCompare CRO and co-founder Charles Hayter 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.”
The aggregates index datasets by CryptoCompare will give a minute-by-minute pricing data of all the liquid cryptocurrency markets. CryptoCompare’s datasets comprise of historical data since 2013 and span across cryptocurrency trade, order book, social, historical, and blockchain data.
To ensure the integrity of its datasets remains intact, CryptoCompare regularly analyzes and reviews data from over 150 recognized global crypto exchanges.
Nasdaq Adding New Indices
Nasdaq has been eager in collaborating with different crypto indices across the globe to offer its investors a detailed view of the cryptocurrency market. Last month in May 2019, Nasdaq partnered with New Zealand-based blockchain data and research firm Brave New Coin to offer investors “real-time” information on XRP data.
Similarly, in April 2019, Nasdaq listed two of CoinMarketCap’s crypto benchmark indices on its platform. The first index is called as CMC Crypto 200 Index (CMC200) which provides datasets considering Bitcoin and covering almost 90% of the global crypto market.
The other index is the CMC Crypto 200 ex BTC Index (CMC200EX) which is developed to track the market performance without considering the influence of BTC.