Blockstream-Launches-Second-Version-of-the-Cryptocurrency-Data-Feed

After the recent release in the second and improved version of the Cryptocurrency Data Feed, it will become significantly easier to track the performance of various digital assets. The new platform was created by Blockstream in conjunction with the Intercontinental Exchange (ICE).

Blockstream is a blockchain development company that concerns itself mostly with the Bitcoin network. The first iteration of the platform rolled out in March, providing both situational and historical data regarding specific cryptocurrencies. Furthermore, the data was comprehensive, covering multiple currencies and updating on regular intervals.

Notably, the second version will feature additional functionalities and thus offer a better experience to the investor. Some of the new additions include:

Level 2 Order Books

To increase the efficiency of the data in the platform, Cryptocurrency Data Feed version 2 will provide order books with extensive information. Moreover, the sat will be compiled in a market-by-price format, accompanied by the corresponding venue (trading platform). Hence, investors will have access to liquidity information concerning various venues, enabling them to make informed investment decisions.

7 New Venues

As mentioned above ‘venue' refers to the cryptocurrency exchanges covered in this data feed. The new version will feature 7 additional venues, increasing their total number to 25. Currently, the Blockstream analytical tool works have these venues in Asia, South America and Europe. Nonetheless, plans are underway to expand this coverage on a global scale.

8 New Digital Assets

Following the introduction of 8 extra cryptos, the total number of digital assets on this feed is fifteen. The latest entrants include XMR, OMG, XLM, and other lesser altcoins. Beforehand, the platform supported leading virtual coin such as BTC, BCH, LTC, ETH, and XRP, as well as most of the world’s commonly used fiat currencies.

Improved Content Functionality

In addition to raw market data, the Cryptocurrency Data Feed also has derived statistics such as turnover, trading volumes, trade and so on. Such data is invaluable to investors, as it serves as a benchmark for the prevailing market situation.

Other notable improvements in the new version include:

  • Venue Status – this informs the investor of the prevailing situation in a particular trading platform. Usually, a venue us either working or temporarily unavailable due to some reasons.
  • Eligibility Criteria for Venues – due to external factors, the pricing of assets in certain venues is not consistent with the market value. The Cryptocurrency Data Feeds excludes these incidences from the general calculations.
  • Trade and Quote Attribution– the new version separates trade from quote attribution to provide extra granularity.

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