Coinigy, a cloud-based cryptocurrency trading platform with tens of thousands of active users, and Merkle Data, a provider of analytics and risk solutions to crypto institutions, today announced a partnership to provide Merkle’s blockchain data to Coinigy’s considerable user base via the Coinigy platform.
“We’re thrilled to provide Coinigy customers with access to Merkle’s enterprise-grade data,” said Derek Urben, CFO and Director of Business Development at Coinigy. “Merkle’s team of blockchain data engineers and quants is top-notch, and their data will open up valuable trading opportunities for our users.”
With Merkle’s powerful indices tracking the activity of the crypto markets, Coinigy users are now empowered to see exchange fund flow and trade on the movement all from one trading interface.
Merkle Data has three indices:
- MDX tracks deposits onto crypto spot exchanges each day so traders can see when funds come online and trade ahead of a big “whale” offloading their ICO funds or payday. Top exchanges such as Binance, Okex, and Gemini are included in the index which covers more than 50% of the global liquidity.
- MVL tracks on-chain volume and velocity so traders can apply NVT ratio or NVM ratios to underlying payment and medium of exchange tokens.
- Network Metrics tracks on-chain stats such as difficulty, block size and transactions/block, as well as mining stats and more, all available for overlay onto price charts.
The MDX and MVL indices will be available in Q4 of 2018 to Coinigy’s Premium CryptoFeed ($100/API) users only. Network metrics will be available directly on the Coinigy platform.
“Coinigy’s best-in-class, value-add tools have made it the leading retail trading platform for the crypto ecosystem,” said Louis Baudoin, CEO of Merkle Data. “By combining our on-chain data with Coinigy’s market data, we will provide an unparalleled holistic view of how tokens are moving and exchanged in the market.”