Nasdaq which is the U.S.stock exchange marketisgetting readyto feature new tools for predictingthe valuemovements of different crypto assets to its Analytics Hub. The hub, launched last year,attractsmachine learning andnatural languageprocessingcapabilities toanalysethrough social media andalternative differentsourcesto offerinvestorsan improvedvision toassess the market movement.
The Analytics Hub hastargetedontraditionalassets,howeverthe addition of digital currenciesappearsto be another green signal of Wall Street’s growing interestwithin thisnew emergingsector.
The data head ‘Bill Dague’ at Nasdaq’s said that given the abundance of interest,we are currentlyexploring new cryptoconnecteddatasets.”
Mentioning further he added:
“Whether or notwe wouldlaunch 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 developedwould offersentiment on aroundfive hundredcrypto assets. Adding further he said:
“There’s the social media sentimentalso,thereforeapplying machine learning andinformation processing,which is expected tobeginwith Twitter andwould possiblyembodyStockTwitsand soeventually aftermaybeReddit.”
This news comesafter the announcement of chief executive officer‘Adena Friedman’aforesaidearlier this year thatthe companyis willing toprovidesome newbitcoin futures product to the users very soon.