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  Reuters & Bloomberg to add a Crypto Index to the terminal

Thomson Reuters and Bloomberg will soon provide cryptocurrency data in their respective terminals. This data is sourced from an index that takes into account social media posts and news.

Earlier today, index provider Cryptoindex (well, quite literally!) said the terminal subscribers would be able to access the top 100 performing cryptocurrencies, according to its proprietary rankings. Cryptoindex comprises of digital assets that have occupied a position in the top 200 cryptos for three or more consecutive months, are “nearly always traded on multiple exchanges” and have a “significant social media interest.”

 

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CEO of Cryptoindex, VJ Angelo, said in a press release, “This index is the culmination of over 30 years of experience in the financial services industry building indices. I have witnessed, first-hand, the rising demand for high-quality research and analytics into the traditionally opaque and misunderstood realm of cryptocurrencies, which made me create Cryptoindex. This index takes into account collective sentiments expressed on various social media, in addition to complex data analysis of trades and predictive analytics.”

“Over 33 TB of data (That’s over 50,000 movies!) is analysed to extract 200+ factors to create a refined ‘ranking’ in the index. This is then put into a neural network to create the full and final rating of various coins,” according to the release.

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Adding to the positives from last week, this news joins the sentiment of CoinMarketCap also being added to the Bloomberg and Reuters terminals, as well as Nasdaq.

The adoption of crypto indices into conventional trading terminals is undoubtedly a positive sign for adoption.

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