Binance cryptocurrency exchange—adjudged to be the biggest—is making efforts to live up to the billing, this time aiming at institutional investors.
On Thursday, Nov. 8, Binance announced that it was launching a new division which will conduct in-depth research and deliver standard reports.
The statement published on its website read:
“Binance Research is a new pillar of the Binance ecosystem, focused on the creation of institutional-grade research reports with the aim of increasing transparency and improving the quality of information available within the crypto space.”
The Institutional Factor
The Analysis Division will be most beneficial to institutional investors who are interested in cryptocurrency. These cadres of investors are used to standard financial analysis and reporting which is sometimes missing in the cryptocurrency markets. To fill this gap, a number of conventional financial reporting agencies, as well as crypto firms, have attempted to provide accurate crypto report ranging from technical analysis to crypto sentiment reports.
As Smartereum reported, Reuters launched a real-time cryptocurrency sentiment tracker in May. Later in August, it added 50 crypto assets from CryptoCompare portal to its finance data feed. Huobi crypto exchange maintains an index which tracks the top 10 cryptocurrencies known as HB10. Earlier in the year, Bloomberg added the HB10 to its Data Terminal accessible to its subscribed customers.
A notable crypto research endeavor is carried out by market analysts Weiss who created a dedicated section for Cryptocurrency ratings. Binance hopes that by adding to these efforts, its reports will help bring transparency to the sector which has been described as a dark hole where market manipulations thrive.