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Malta-based digital badet exchange, OKEx has launched a new comprehensive data badysis platform, which covers trends in derivatives transactions.
According to a press release shared with Cointelegraph, this platform would allow OKEx users to see in real-time data on futures and perpetual swap swap markets for nine major brands, including major exchanges. cryptocurrency BTC, ETH and XRP.
The platform provides six indicators of market trends, namely: ratio of buyer / buyer positions, basis, volume of open interest and trading positions, buyer / seller volume, traders' confidence index and the average margin used by traders.
In accordance with this announcement, the objective of this platform – called market data of term and perpetual swaps – is to offer customers unbiased trading data to better inform and create trading strategies in the derivatives market.
Andy Cheung, operations manager at OKEx, said that trading derivatives can be particularly difficult to control:
"Derivative trading requires a steeper learning curve because it involves the use of margin and leverage. Once we realized that there was not really much data available on the market to help users badyze market trends, we decided to create a tool that could benefit our users. That's why we launched this Big Data platform and we are proud to say that we are the first in the industry to provide this type of data. "
Big Data Analytics enters the cryptographic business
As previously reported by Cointelegraph, the main Coinbase cryptocurrency platform, which includes an encryption and wallet exchange service, began providing trading signals to its users on July 17th.
Coinbase would use aggregated data to provide information about the holder's activity, typical shelf life, popularity, and price correlation as transaction signals. The purpose of these badyzes is to enable users to create personalized and informed trading strategies based on information that goes beyond the gross price and other basic market data.
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