Based on a recent report, an index covering the top 100 leading virtual currencies will soon be made available to users of Thomson Reuters and Bloomberg trading terminals.
Data will be extracted for the index by the financial departments of Thomson Reuters and Bloomberg from numerous sources to create a virtual currency data which will put news and social media posts into consideration.
Also, Index provider—Cryptoindex which compiles an index consisting of crypto assets that have maintained a rank in the top 200 for three months straight, confirms that users of these trading terminals will be able to track the top 100 performing coins according to its ranking.
The Cryptoindex platform is designed to identify trading data that has been increased and gets refreshed on a monthly basis.
Trading View Will Also Add the Index
Furthermore, Trading View a social networking and data analysis site will include the index as an additional option for its clients.
The Chief Executive Officer at Cryptoindex, V. J. Angelo said that:
“The index is the culmination of three decades experience in the financial services industry building indices. I have witnessed firsthand the growing demand for high-quality insight into the traditionally opaque and misunderstood area of cryptocurrency, which led me to create Cryptoindex. Our index takes into account collective sentiments expressed on social media, in addition to complex data analysis of volume trades and predictive analytics.”
A statement released by the firm revealed that the Cryptoindex is created using an analysis of more than 1,800 virtual currencies that were screened through a set of filters. Its data is compiled from digital currency exchanges, news sources, and social media sites like Telegram, GitHub, Twitter, and so on.
The statement said:
“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.”
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