Reuters, Bloomberg, TradingView all adding AI powered crypto index

14 Jun, 2019
by David Borman
Reuters, Bloomberg, TradingView all adding AI powered crypto index

It is being reported by Cointelegraph that both the Reuters and Bloomberg financial terminals, as well as popular trading site TradingView, all plan to add an AI powered index of the top 100 performing cryptocurrencies, hopefully bringing exposure to a wider, and perhaps more traditional, financial audience.

The new index is being provided by AI-powered cryptocurrency index provider Cryptoindex, and will be titled the "CIX100." It will be taking over 33 terabytes of data, such as actual trades, major announcements from exchanges and social media sentiment, and use a proprietary algorithm to generate the index from 200+ factors. The data is then entered into a neural network that determines the ultimate ranking.

The index will be updated monthly and apparently has ways to detect artificially inflated coins. Stan Bokov of TradingView is quoted in the article:

"Integrating the CIX100 Cryptoindex demonstrates TradingView’s commitment towards moving fintech forward [...] Data is rapidly becoming a commodity in its own right, and access to it will define future companies success, we aim to ensure that this is maintained well for all."

It is unclear at this time exactly when the index will be implemented, but presumably soon. This comes as many other companies are implementing their own crypto indices, such as the recently announced Plus500 "Crypto 10 Index."

Will this bring in a new type of investor? Or are institutions just trying to play catch-up on what customers want? Stick right here with Chepicap for all updates!

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