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Source: Nasdaq Launches Cryptographic Analysis Product for November
Unlike most traditional financial institutions, the Nasdaq, the world's second largest stock market by market capitalization, has taken a friendly approach when it comes to of cryptographic resources, taking a series of measures to apparently prepare for the arrival of the next revolutionary technology – blockchain and similar decentralized systems.
As reported by Ethereum World News on several occasions, the company has openly shown interest in offering encryption a focused exchange service, with Adena Friedman, CEO of Nasdaq, telling CNBC that she believes the criptos " will continue to persist "and it would be logical for your company to establish such a service. Friedman elaborated, stating:
Surely the Nasdaq would have considered the idea of becoming a cryptic exchange over time. If we look at it and say "it's time, people are ready for a more regulated market", for something that provides a fair experience for investors … I think digital currencies will continue to persist is just a matter of how long it will take us for that space to mature.
But as mentioned in the above statement by the CEO of Nasdaq, for now, it seems that this move is still a few years away. Regardless of this, the farsighted institution still seems to be ready to make a small but significant foray into this budding industry.
According to insiders from the New York-based company, the world-renowned stock exchange has begun work on offering tools, services and products that will enable investors to predict future stock price performance. cryptographic market, as for an exclusive Coindesk.
Elaborating the exact details, the source noted that the analysis would probably be available for over 500 cryptocurrencies and will analyze the flow of cryptographic resources from the portfolio to the portfolio, the data relevant to the exchange and the sentiment and discussion on social networks average.
The individual who knew about the company's plans went on to reveal that this product will probably be added to the Nasdaq analysis hub, which uses machine learning methods and "natural language processing (NLP) ) "to explore social media and" alternative data sources "to offer interested investors an overview of the internal functioning of a publicly traded market.
At present, Hub has only had a focus on legacy capital markets, but many optimists have begun to believe that this move could signal a possible entry of well-known figures and companies on Wall Street in this asset class at an early stage. Speaking of the matter, Bill Dague, the head of alternative data to the Nasdaq, noted:
Given the abundance of interest, we are exploring the data sets related to cryptocurrency … It remains to be seen whether or not we will have a encrypted product. [19659005] While Dague seemed hesitant to reveal the exact location of the company on such a product, the aforementioned member doubled his claims, adding that this new feature could hit the limelight sometime in November of this year.
Photo of Crew on Unsplash
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