By
Chimamanda U. Martha
April 19th, 2024
Both TradingView and FTX share similar philosophies about the need to make markets more efficient and reduce investment-related frictions.
Charting platform and social network, TradingView has announced a new partnership with FTX. FTX is a leading cryptocurrency exchange worldwide and boasts an average daily trading volume of $9 billion. The firm is owned by Sam Bankman-Fried, a graduate of MIT.
Integrating with firms like FTX is not a new plan for TradingView as it has long been road mapped. Similar integration with Binance data took place way back in 2017. Many others have taken place since then.
Both TradingView and FTX share similar philosophies about the need to make markets more efficient and reduce investment-related frictions. The integration will enable traders to access the global market while accessing their favorite charts.
FTX touts itself as an exchange built by traders for traders. The exchange may very well be one of the most innovative exchanges in the industry offering multiple innovative crypto products.
FTX Integration will Improve Traders’ Experience
According to the announcement, TradingView stated:
“We’re confident that investors will benefit from a consolidated workflow and look forward to seeing a more interconnected future.”
The FTX.com charts are directly available in the TradingView trading panel. By simply hovering over the FTX.com icon, users will be able to click connect and type in exchange account credentials.
In other news, TradingView also cryptocurrency market spiked by 4.5 % on Sunday. This was after the nearly 10% gain it made in the previous week. Consequently, the market capitalization rose above $2 trillion for the first time since mid-February. On its own, Bitcoin rose by 5.23% while Ethereum rose by 4.85 leaving both coins at $47,000 and $3200 respectively.
Data on TradingView suggests that the bullishness has got to do with more than Bitcoin. The S&P 500 also continued its rally even as war and inflation concerns began to wane off investors.
TradingView now has over 30 million traders and investors globally and more than 30 million month-over-month visits on its website. Last year, it raised $298 million in a funding round led by Tiger Global Management. Subsequently, the London-based firm achieved unicorn status after a market valuation of $3 billion.