Reuters, Bloomberg and TradingView to Add New Cryptocurrency Index
The terminals of Reuters and Bloomberg will soon provide cryptocurrency data from an index that takes into account social media posts and news.
:format(jpg)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/VJSEDZ2WGVFKJGQKEXO2M5CYRI.jpg)
/arc-photo-coindesk/arc2-prod/public/LXF2COBSKBCNHNRE3WTK2BZ7GE.png)
The financial terminals of Thomson Reuters and Bloomberg will soon provide cryptocurrency data from an index that takes into account social media posts and news.
Announced Thursday, index provider Cryptoindex said terminal users will be able to view the top 100 performing cryptocurrencies, according to its rankings. Cryptoindex comprises of crypto assets that have occupied a position in the top 200 for over three consecutive months, are "almost always traded on multiple exchanges" and have a "significant social media following."
Rebalancing of the Cryptoindex occurs on a monthly basis and is designed to spot trading data that has been inflated, the firm said.
Popular traders' social networking and data analysis site TradingView will also add the index as an additional choice for its users.
VJ Angelo, CEO of Cryptoindex, said:
The Cryptoindex is built from an analysis of over 1,800 cryptocurrencies that are passed through set of filters, according to the firm.
A company representative told CoinDesk in an email that its data is collected from cryptocurrency exchanges, news sources and social media sites, such as Twitter, Telegram, GitHub, and others.
"Over 33 Terabytes of data is analysed to extract over 200 factors that create a refined ranking in the index, which is then put into a neural network to create a final rating of coins," according to the release.
The news comes soon after data site CoinMarketCap was also added to the Bloomberg and Reuters terminals, as well as Nasdaq.
Cryptoindex said its product offers "a methodology fully suited to the needs and requirements of heavily regulated asset managers, institutional and professional investors."
Trading screens image via Shutterstock
Disclosure
Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by Block.one; both groups have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.
Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.