A trading terminal on a laptop

Bloomberg and Reuters will soon include cryptocurrency data in their terminals by utilising an index which takes social media activity into account.

Today Cryptoindex noted that terminal subscribers will be able to view the top 100 cryptocurrencies. The service displays data about digital assets ranked in the top 200 cryptocurrencies by market cap for more than three consecutive months. This condition is put in place to insure that the coins will be “nearly always traded on multiple exchanges” and have “significant social media interest “.

VJ Angelo Cryptoindex CEO commented the index in a press release:

“This index is the culmination of over 30 years of experience in the financial services industry building indices. I have witnessed, first-hand, the rising demand for high-quality research and analytics into the traditionally opaque and misunderstood realm of cryptocurrencies, which made me create Cryptoindex. This index takes into account collective sentiments expressed on various social media, in addition to complex data analysis of trades and predictive analytics.”

As far as the depth of cryptocurrency analytics goes, Angelo states:

“Over 33 TB of data (That’s over 50,000 movies!) is analysed to extract 200+ factors to create a refined ‘ranking’ in the index. This is then put into a neural network to create the full and final rating of various coins,”

This news follows the addition of coinmarketcap data to Reuters and Bloomerg’s terminals, as well as Nasdaq, giving a clear indication that the speculative assets that were once neglected by the mainstream are now receiving a sign of trust and approval. The overwhelmingly positive news should give every cryptocurrency trader reassurance that crypto is here to stay.

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