Prominent news provider, Thomas Reuters, in partnership with cryptocurrency market aggregator CryptoCompare, will now include data of 50 crypto assets to its popular desktop finance feeds.
For its part, Cryptocompare will aggregate the order book and trading data for 50 crypto assets from reliable exchanges. Thomas Reuters will now add this new stream of market data to its Eikon platform for investors.
In a press statement, Director of Strategy In Innovation and Blockchain at Thomson Reuters, Sam Chadwick said:
“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.”
“This partnership puts pricing data for this emerging market alongside other asset classes, giving our customers a more comprehensive trading view in Eikon.”
Helping Institutional Investors into Cryptocurrency
With this new data, the Canadian-based information outlet believes that institutions investors going into the crypto assets sphere will have reliable insights to make more probable predictions.
According to Charles Hayter, CEO and Founder of CryptoCompare, “As the digital asset markets mature, we see a fast-growing demand from the institutional investor community for comprehensive, real-time and global market data, which can be trusted as the basis for investment decisions.”
Thomas Reuters’ relationship with CryptoComapre dates back to 2016. Together, they launched MarketPsych, an index which uses AI to track the sentiment towards bitcoin from over 400 sources and provide insights for investors. Later in June, the bitcoin sentiment index was expanded to cover 100 cryptocurrencies.
Thompson Reuters’ Eikon platform started real-time tracking of six cryptocurrencies in May.
Solomon Sunny is the market reporter for Smartereum, one of the global leaders in Ethereum, blockchain and currency news. He produces technical price updates on digital currencies and writes recent developments about blockchain.