DataLight Has Launched The Fundamental Analysis Tools That Can Be Used For Crypto Trading
DataLight, which is crypto analytics firm has just gone ahead to announce their new launch of an analysis system that will be able to examine the cryptocurrencies in the market; the announcement was made this Tuesday. The company goes on to say that it is actually the very first company that has been able to apply the traditional stock market metrics that can be used in the analysis of the cryptocurrencies.
According to the company, with the new set of tools they have launched, it will be very useful to both the retail and professional investors.
How It Will All Work
The new system has been designed in a manner it is able to gather the vast swathes of data that is in the market then later presenting it all to the traders in a more simplified format. With this, the traders will be able to examine that data that has been presented in the charts together with the graphs with the use of a set of tools. And from this, they will be able to efficiently perform fundamental analysis of the performance of the crypto market.
The company has gone ahead to claim that it is able to analyze over three million messages on the different social media platforms and when it comes to trades it is able to analyze almost ten million that are within the crypto exchange; all this is done every single day.
The firm has also gone ahead to take all the available information that is on the Ethereum blockchain plus bitcoin. Then from this DataLight presents the data to its users in a format that is more understandable to all, and from this, you are able to customize the information presented to your own trading needs easily.
DataLight Had Gone Ahead To Develop Some Crypto Indexes
There have been a number of market performances together with indexes that the company has been able to create. With these in place, it is able to allow the different users on the platform to quickly examine the data that has been gathered by the DataLight.
A good example is, the company has been able to create a Hype Index, one that will be able to show how big an asset is in the market at a given time period, together with how much those particular asset is being discussed on the social platforms.
The Buy Market has also been considered to be a handy tool, as it will allow all the DataLight users to see the number of people who have bought a particular asset at the current market price it is selling at. And this is not all as DataLight has ensured that the traders in the market are able to access these tools very quickly online, and it is able to also offer adequate integration with different trading platforms together with the analytics services.
Several services are being offered on the platform that is growing in popularity, as different traders in the market, in particular, the ones within the institutional space are trying to get a better handle on swathes that are often of disparate data, which has been made readily available to them. With the lack of benchmarks within the market and reliable pricing data, it has been considered to be a significant barrier that firms have been dealing with or even the individuals within the market who are looking to invest in the digital assets.