Nomics.com, a provider of crypto market cap and pricing data, has piloted a new indicator, transparent volume, which represents the percentage of crypto asset trading volume occurring on exchanges that have received an A+, A, or A- transparency rating from the company.
The API-first market cap and pricing data company delivering services to institutional crypto investors and exchanges said that for each crypto asset listed on Nomics, real-time transparent volume data is available in two places: the Nomics market cap index and the individual crypto asset page.
Transparent volume is less likely to include wash trading and other forms of toxic volume because it is comprised of trade-level data with full histories, which are difficult to fake and easily auditable. According to the firm, an exchange can only earn a top transparency rating by providing Nomics with high-granularity market data, including full histories for each trading pair listed on a given exchange.
Clay Collins, Chief Executive Officer at Nomics, said: “One of the SEC’s major concerns in approving a Bitcoin ETF is the percentage of trading volume that is unsurveilled and subject to manipulation, toxic influences, etc. Nomics’ transparent volume metric is intended to help institutions, state actors, and investors assess the percentage of reported trading volume for a given cryptoasset that is auditable and transparent […] We believe that, as an industry, we need to continually improve our ability to spot suspect crypto exchange behavior on a near real-time basis. And we need formal open-source methodologies that can be used by any independent third party to evaluate exchange activity in real-time.”
In December 2019, QuantHouse added historical crypto data from DV trading’s exchange, DVeX. The venue is owned and operated by DV Chain, part of the DV Trading group of companies. As a liquidity provider and active market maker across a wide range of asset classes including cryptocurrencies, DV Trading used DV Chain to launch its own electronic OTC marketplace for all major cash cryptocurrency pairs, DVeX.
In November 2019, Crypto Compare made available a suite of digital asset data products in the BT Radianz Cloud, one of the world’s largest secure financial markets cloud communities. The comprehensive real-time and historical dataset will provide institutional clients with a granular, reliable view of the digital asset class, as per the official announcement.
In September 2019, Nasdaq Quandl, Nasdaq’s institutional data platform, added fundamental crypto rating and price forecasting data provided by crypto investment management fund Blockchain Investments. The blockchain data firm was founded by Alfred Prevoo, former employee of the European Central Bank (ECB) and a member of INATBA, the International Association for Trusted Blockchain Applications, launched by the European Commission in April, 2019.