Sharks from Wall Street will get their own tool for monitoring the crypto-currency market
As reported by The Wall Street Journal, the American Exchange Intercontinental Exchange (ICE) has started cooperation with Blockstream to develop a service that would provide “orderly” information on quotes to investors from Wall Street.
ICE, the parent firm of the New York Stock Exchange, states that it plans to supply data from 15 major crypto-exchange exchanges to large players, including hedge funds and professional trader companies. Information will be provided in a format that makes it easy to work with modern financial indicators.
This step is another example of how bitcoin inexorably enters the attention of traditional investors, in this case – hungry to reveal its revenue potential.
Wall Street Journal optimistically emphasizes that “Since ICE has entered into a deal with Blockstream, it proves that Wall Street sharks are serious about the crypto-currency market, which was once only a children’s game.” The instrument in question can be seen in March, providing traditional investors with something neat and strict, but still similar to CoinMarketCap, an existing monitoring service for the crypto-currency market.
In recent weeks, CoinMarketCap has been criticized because it excluded large South Korean crypto-bills from its algorithms for calculating average prices, motivating this step as “an extreme divergence of exchange rates.” The Wall Street Journal develops this topic in its article, suggesting that the ICE product will have fewer problems in order to get rid of “homegrown” resources.
This news is already the second significant event for Blockstream this week – on January 16, the service launched a transaction platform based on Lightning Network algorithms.