Nasdaq may be at the centre of giving institutional investors an analytical edge on trading.
According to a person familiar with the company’s plans, the US stock exchange is preparing to add tools to predict the activities of crypto assets in its Analytics hub, the hub launched last year, machine learning and natural language processing capabilities explain to social media and other alternative data source investors to market To provide a better way of assessing market.
To date, the Analytics Hub has focused on traditional properties, but besides crypto, there appears to be another sign of the growing interest of Wall Street in the nascent region.
On the other hand, the source, who is working with Nasdaq on the effort, was firmly saying that new crypto functionality is currently being done in beta testing before November targeted for targeted launch.
The source told that this service will provide some 500 crypto properties, and it takes a three-dimensional approach to its analysis, which looks at fund flow through data from Wallets, exchanges and social media.
Sources said, “Social media is a part of the spirit, so implementing machine learning and NLP, which will start with Twitter and it can include stock twits and ultimately reddit.”
Nasdaq CEO Adena Friedman said earlier this year that the company was offering some types of bitcoin futures products. In addition, in April, she said that NASDAQ would also consider making a crypto exchange.
Other famous players of the alternative data analytics field include Reuters and Bloomberg, as well as a dataminr, who previously commented on providing Twitter data to the crypto traders.