Digital wallet and cryptocurrency exchange platform Coinbase recently released collated data structured as a trio of trading signals for its clients. The company announced its new offers in its latest blog post.
Based on the information shared on its official blog, trading signals are current, reliable, and exclusive data that’s only available to Coinbase clients. They’re designed to assist investors develop better trading strategies through insights that utilize more than rough price metrics.
Top Holder Activity, Price Correlation, and Typical Hold Time and Popularity.
The three trading signals are for top holder activity, price correlation, and typical hold time and popularity.
The top holder activity sign is the percentage of clients that have a large balance on an asset and who have not moved from their position in the past 24 hours. This means they haven’t bought or sold any asset. The signal is a good way of gauging how some of the biggest assets have traded.
Meanwhile, asset popularity tracks the average number of days a resource is held before it’s transferred through a new transaction. It also follows the number of users hold a specific cryptocurrency.
First in the Industry
As per Coinbase’s announcement, the new insights they’re offering are the first provided in cryptocurrency. The US-based cryptocurrency exchange also emphasized that the metrics will be presented together with conventional market data, which the company is already supplying.
Coinbase has been forging forward relentlessly since it released a report last month on US awareness trends and the adoption of digital currency. The company drew its data from a survey that comprised on 2,000 users. The survey showed that more than half (58%) of Americans are aware of Bitcoin.