Nasdaq which is the U.S. stock exchange market is getting ready to feature new tools for predicting the value movements of different crypto assets to its Analytics Hub. The hub, launched last year, attracts machine learning and natural language processing capabilities to analyse through social media and alternative different sources to offer investors an improved vision to assess the market movement.
The Analytics Hub has targeted on traditional assets, however the addition of digital currencies appears to be another green signal of Wall Street’s growing interest within this new emerging sector.
The data head ‘Bill Dague’ at Nasdaq’s said that given the abundance of interest, we are currently exploring new crypto connected datasets.”
Mentioning further he added:
“Whether or not we would launch a crypto-related product still remains to be seen.”
However, according to a source Nasdaq is currently working and testing their new launch which is expected to be revealed by the company later in Nov-Dec. this year.
Mentioning further the source added that this new service being developed would offer sentiment on around five hundred crypto assets. Adding further he said:
“There’s the social media sentiment also, therefore applying machine learning and information processing, which is expected to begin with Twitter and would possibly embody StockTwits and so eventually after maybe Reddit.”
This news comes after the announcement of chief executive officer ‘Adena Friedman’ aforesaid earlier this year that the company is willing to provide some new bitcoin futures product to the users very soon.