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A Crypto Predicting Tool To Be Built By NASDAQ Targeted To B...
Cryptocurrency News, Markets

A Crypto Predicting Tool To Be Built By NASDAQ Targeted To Be Launched In November

With the aim of giving institutional investors an analytical edge, NASDAQ decided to embark on a project which supposedly is believed to predict the movement of crypto price.

As the name implies, “A Predicting Tool” means the tool might as well be wrong in some cases, and this technically means it is not in anyway a “financial advice” to use the tool as every single person that uses it, is responsible for anything that happens next.

An insider from the firm was actually the source of this information.  He revealed that U.S. based stock exchange Nasdaq is currently in the process of building a tool that will allow institutional investors to track market sentiment across a variety of cryptocurrency assets.

First built in 2017, the Analytics Hub utilizes a combination of natural language processing and machine learning to extract, analyze and evaluate vast quantities of online sources (such as social media platforms) to ascertain investor sentiment in the wider market. The Hub is already in operation and currently supports a variety conventional financial assets.

The source also revealed that the innovative tracking tool will initially focus on 500 different cryptocurrency assets, whereby it will target three specific aspects to its analysis, including social media, capital flows through wallets and data extracted from exchanges. Moreover, the source claims that the tool is already going through the Beta stage of testing and that it could go live as early as November.

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