With the number of cryptocurrency trader increasing on a daily basis, Thomson Reuters, a Canada-based mass media agency has announced that it will now let visitors access cryptocurrency trade data on one of its desktop finance feeds.
A new partnership deal between the media agency and market data aggregator CryptoCompare will make this possible. Forbes reports that Reuters will add the offering to its list of content after a survey revealed that financial firms trading cryptocurrencies would increase in 2018.
In order to provide Reuter clients with a trusted source to use when evaluating the crypto markets, CryptoCompare will, under the new partnership, provide order book and trading data for 50 crypto assets sourced from “trusted exchanges.”
Given that the new offering will report real-time data, it expected to guide investors to make profitable buying and selling choices while trading the listed crypto assets on any exchange of their choice.
The new crypto tracking offering will be made available to Eikon user on Reuters and also in the data feeds of the Elektron product according to Forbes.
Partial decline does not dissuade investors
Director of Strategy in innovation and blockchain at Reuters, Sam Chadwick, expressed delight at the new partnership even though it comes at a time when there is a “decline in the price of many of the leading cryptocurrencies during 2018.” According to him, the plunge has not stopped the “increasing demand from (Reuters) customers for pricing coverage of the major names.”
Charles Hayter, CEO and Founder of CryptoCompare, said the new partnership will provide an “opportunity for the institutional investor community to access Cryptocompare data, and also benefit from their experience and insight.”
Reuters already has enabled cryptocurrency monitoring through a separate deal with MarketPsych Data. This service is said to equip investors with data for tracking 100 cryptocurrencies and has been in Reuters’ sentiment data pool since June.
The increased media coverage for cryptocurrencies is without doubt attracting more investors to the space and Reuters just raised crypto global awareness to a great extent. Maybe other top information and media agencies will follow, hopefully soon!