One of the best-recognized exchanges in the world, Nasdaq, has teamed up with CryptoCompare to start showing live cryptocurrency prices. The collaboration will be executed through Quandl – a financial information platform.
In a statement released today, CryptoCompare announced the collaboration and stated that this new product would:
enhance institutional capabilities in the cryptocurrency markets across trading strategy, quantitative research, risk modeling, NAV calculations, and back-testing.
Quandl is one of Nasdaq’s best-performing acquisitions, attracting more than four hundred thousand (400,000) users, from all areas of investment. Hedge fund managers and investment bankers are frequent users of the platform.
One of the main goals of this collaboration is for investors to gain more in-depth insight into the way cryptocurrency values are shifting daily. To provide a complete and reliable picture of these market movements, Nasdaq and CryptoCompare will give the most accurate and dependable live data.
Quandl’s new functionality will rely on data sets provided by CryptoCompare. Information will be updated every minute. For the moment, Quandle will only cover the most liquid cryptocurrencies on the market.
CryptoCompare has been gathering information in the crypto sector for more than six years. The accumulated volume of data will allow users to come up with a detailed analysis of the cryptocurrencies. This will also serve as a good starting point for comparative analysis between different currencies, both crypto, and fiat.
This new endeavor by Nasdaq proves that traditional exchanges are showing increased interest in cryptocurrencies. This is a good sign for all crypto-lovers. Quandle might be the next big thing when it comes to cryptocurrency information.