Coinscious Demonstrates How Accurate Crypto Market Data Ultimately Leads to Winning Model

Coinscious, a data and trading analytics provider for the cryptocurrency market, today announces the publication of its article illustrating the high importance of accurate data when creating quantitative and high-frequency trading models with far greater than average performance.

To view the article in its entirety, visit: https://coinscious.io/coinscious-lab/accurate-crypto-market-data/

OHLC Error Rates

A key aspect that is often overlooked in quantitative crypto-trading is the quality of the data being used to design sophisticated prediction models. In the new era of cryptocurrency trading, those with the most data of the highest quality will surely win as the underlying data ultimately determines the execution prices, the model’s behavior, and the model’s ability to fit the market efficiently and effectively.

Many algorithmic traders incorporate massive amounts of data into their algorithms to create better pricing models and leverage large volumes of historical data to backtest their trading algorithms. Particularly with recent advances in machine learning, the data-driven approach to modeling is being emphasized more than ever before.

In the article, the error rates of Binance, Bittrex, Bitfinex, Bitstamp, Bitmex, Huobi Global, Okex, and Coinbase Pro were measured and then placed in bar chart format to illustrate the accuracy of Coinscious data compared to Kaiko and CoinAPI. The data quality was assessed by comparing each well-known exchange’s OHLCV (open, high, low, close, volume) data with derived OHLCV data.

Whether viewing error rates in trading volume or price movements, Coinscious data proved to be the most accurate among the other data vendors for the top 3 coins (BTC, ETH, and XRP). In average, Coinscious data are 38% better than Kaiko’s data, where the relative errors on OHLC are 39%, 41%, 31%, and 37% respectively. Similar results have also been shown using four alternative coins (ADA, XLM, TRX, ZRX).

When answering the question of why accuracy discrepancies exist across different data providers, a couple of possible reasons are given. For example, it could be due to downtimes of exchange APIs or rate limits getting in the way when there is high activity among the thousands of combinations of cryptocurrency exchanges and trade pairs.

While many companies are collecting vast amounts of data across different exchanges and coins, the quality of the data may be hidden underneath the quantity of the data. Especially in this era of a data-driven finance world, success and risk can be heavily dependent on the data quality and the data operations environment. Obtaining the right trading tools and hiring talented traders can certainly help, but even then, tools and people cannot guarantee success if the data is imperfect. The cryptocurrency finance market could benefit from having more of data quality analysis in order to understand the granular level of datasets and where they can be obtained.

About Coinscious 

Coinscious provides comprehensive data, insights and solutions to professional and non-technical cryptocurrency traders alike. We focus on delivering quick and accurate data to our users, connecting trading systems and strategies to the dynamic crypto market through our enriched data sources and data-driven insights. We specialize in providing traders with tools to allow them to backtest, validate, optimize and execute their own strategies.

To learn more about Coinscious, visit: http://www.coinscious.io


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Author: Coinscious Inc
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The Future Stellar Lumens [XLM] $1.00 Prediction Turning Visible

In the case of businesses dedicated to facilitating payments between individuals, the choice of which blockchain to use and which fintech to hire is of vital importance for their growth. However, the relationship between crypto and fiat based fintechs has concluded with a growth in exposure of digital currencies.

When it comes to banks and firms that attempt to adopt blockchain based solutions for processing cross-border transactions or various types of payments, XRP and Stellar take the spotlight with no mercy.

The marketing strategy which Stellar follow is based on growing its partner-list so its payment transferring tech is used and utilized by a wider reach. The platform is on constant development to bring the architecture required for expansion.

By no doubt, the native token’s price [XLM] is impacted by any firm advancement or asset support that exchanges bring.

None other than the leading cryptocurrency exchange platform Coinbase is staying behind its mid-July teasing twitter post of exploring 6 assets.

Today we are announcing that we’re exploring the addition of the following assets to Coinbase: Cardano (ADA), Basic Attention Token (BAT), Stellar Lumens (XLM), Zcash (ZEC) and 0x (ZRX).

Two of the six coins have already welcomed the support from CB in the past weeks and knowing that its only the beginning of November, it could be a matter of weeks before the exchange delivers much awaited news for the other remaining four.

October 16th, 2018 – via their official twitter handle Coinbase launched ZRX [0x] on Coinbase.com and on the Android and IOS applications too.

Two weeks after – November 2nd, 2018 – the San Francisco based cryptocurrency exchange of Coinbase Pro has announced that it has successfully added Basic Attention Token (BAT) onto its platform.

After 1pm PT on Friday, November 2, we will begin accepting inbound transfers of Basic Attention Token (BAT) to Coinbase Pro.

We will accept deposits for at least 12 hours prior to enabling trading. Once sufficient liquidity is established, trading on the BAT/USDC order book will start.

Users may convert their USD to USDC with one click within the Pro interface as described here. BAT trading will be accessible for users in most jurisdictions, but will not initially be available for residents of the state of New York.

Please also note that BAT is not yet available at Coinbase.com or in our iOS and Android apps. We will make a separate announcement when that occur – announcement blog post

Since the event, the pair BAT/USD has experienced a stellar bullish run reaching 14.03% gain only in the last 24-hours being the highest among leading coins. This could be only the beginning for the days ahead.

Reflecting on Stellar XLM – keeping in mind that the speedy coin is the sixth largest coin by market capitalization its community support is possibly of higher scale and the exchange’s support impact will be of no doubt game-changing for any XLM HODler. Following the major drop that took place on 29th of Oct, Stellar is among the coins which had a better recovery and weekly placement including BCH and XRP.


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Author: Alex Tomzack
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0x Surges 30% after Coinbase Listing, Which Crypto is Next?

0x (ZRX), better known as the 0x protocol, experienced a 30 percent increase in value within mere minutes after Coinbase, the world’s largest crypto brokerage, officially integrated ZRX.

In an official announcement, Dan Romero, Coinbase vice president and Coinbase Consumer general manager, wrote:

“Starting today, Coinbase supports ZRX at Coinbase.com and in the Coinbase Android and iOS apps. Coinbase customers can now buy, sell, send, receive, or store ZRX, along with Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic and Litecoin. ZRX will be available for customers in most jurisdictions, but will not initially be available for residents of the United Kingdom or the state of New York.”

Approval From Regulators

ZRX/USD | Binance

The integration of 0x by Coinbase, an exchange that focuses on compliance and security alongside Gemini, demonstrated the approval of local regulators such as the US Securities and Exchange Commission (SEC) to list tokens that by existing financial regulations are not considered as securities.

For Coinbase, a minor misstep or an overly aggressive approach in listing tokens could potentially lead the SEC to crack down on the exchange for distributing unregistered securities. Hence, while the initial announcement of Coinbase to list 0x was released in July, it took over three months for the platform to integrate one of the five digital assets it mentioned in its report.

At the time, the Coinbase team stated that regardless of its interest in integrating Cardano (ADA), Stellar (XLM), Brave Attention Token (BAT), Zcash (ZEC), and 0x (ZRX), it cannot guarantee investors on its platform.

“Unlike the ongoing process of adding Ethereum Classic, which is technically very similar to Ethereum, these assets will require additional exploratory work and we cannot guarantee they will be listed for trading. Furthermore, our listing process may result in some of these assets being listed solely for customers to buy and sell, without the ability to send or receive using a local wallet.”

The approval of the listing of 0x represents the acceptance of a green light to list ZRX as a non-security on fiat-enabled cryptocurrency exchanges.

Expectedly, the price of ZRX increased by more than 30 percent on the day, adding close to $200 million to its market valuation in the past month. It overtook Maker and Bitcoin Gold to become the 22nd largest cryptocurrency in the market and the sixth most valuable token in the market behind Binance Coin, EOS, VeChain, Tron, and Tezos.

Why are Traders Optimistic?

The integration of ZRX into Coinbase.com and the firm’s Android and iOS apps could lead other fiat-enabled exchanges to list ZRX in the months to come, at it means that local regulators have approved exchanges to list ZRX as a digital asset.

No major fiat-enabled exchange in the US market apart from Coinbase has considered adding tokens due to regulatory uncertainty, but the forward-thinking approach of Coinbase could lead to more digital assets being listed on US exchanges.

BAT, another token Coinbase has shown its interest in integrating, rose by more than 10 percent in the past 24 hours.


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Image Credit: Charts from TradingView.