As most of you already know, November marked a very exciting and busy month for us as we made significant progress on all fronts.
Our staked users have started receiving CoinFi Trading Signals and we’ve opened up public access to CoinFi News.
Furthermore, we now have a CoinFi Research section where our data scientists will post research pieces about the crypto markets and the backtested results from our trading signals.
Without further ado, here’s a brief summary of the progress we’ve made for November.
Technical UpdatesCoinFi Trading Signals
We added the “Abnormal ETH movement in or out of exchanges” signal. This signal alerts users when the markets are becoming more volatile. In addition, our backtested results also found that when the signal fires, the price of ETH drops 67% of the time within the first 24 hours, with the price recovering within the next 24 hours. More details regarding the signal are written here.
We added the “Abnormally large token transfers into exchanges” signal. This signal triggers when a token transfer larger than 99.9% of historical transactions move into an exchange. It's important to know where large transfers are going because selling a large number of tokens in exchanges at once can have a material impact on the token price. This is especially important when you are looking for the right time to exit your position. Check out how our CEO Tim Tam was able to utilize the signal to time his exit:[embed]https://coinfi.wistia.com/medias/rnrwr7jrto[/embed]
Lastly, we also added the “BTC long/shorts margin positions” signal, which alerts users when BTC long/short margin positions reach a backtested threshold. There are actually three variations of this signal, which fires when:
A daily signal on coins with the highest increase in news mentions is also now active as of December 2018 (WIP in November). This daily signal shows the top 5 coins that had the highest increase in news mentions over the last 24 hours. This signal is used to discover coins that are hot in the press.
"Significant token transfers out of project wallets" signal, which alerts users when a token transaction greater than >$10,000 USD move out of the project wallet. There are multiple benefits to receiving this information, such as:
Detecting when the project is about to sell their tokens
When projects move vested tokens into employee wallets
Getting a rough idea of how projects are using their funds
A daily report showing all the tokens that had a signal firing the previous day. This gives users an opportunity to scout for new coins and optimize their portfolio.
We also made some improvements to our Telegram bot throughout November. Some of the changes we made include:
Adding Etherscan links to our trading signal messages. This provides our users with greater transparency and the ability to dive in and do further research.
Functionality for our trading team to broadcast manual messages to our users. This allows our professional trading team to comment and provide feedback on the overall market and what our signals may mean from time to time.
Minor bug fixes
Quality of life improvements
Officially out of beta; publicly accessible
Minor bug fixes
Improved performance on page load
Other UpdatesCoinFi Research
All our latest podcast episodes will be found at CoinFi Research moving forward. On that note, we published “CoinFi Podcast Episode 11: Can USDT Maintain its Dominance Amidst All The Emerging Stablecoins?” last week, you can listen to it here.
Last week we published a post describing the introduction of our first token utility, which allows COFI holders to stake 25k tokens for access to the CoinFi Trading Signals beta.
It’s been exciting to see users staking their COFI tokens in order to get access:
In fact, COFI stakers are now collectively the 11th largest holder of COFI tokens on the blockchain!
As of this writing, beta users have staked 2,960,622.9548 COFI tokens for early access to CoinFi Trading Signals, which is 1.685% of the circulating supply of COFI.
The tagline for our signals is “Professional trading signals backed by data science”, so this month we thought we’d share some of the data science underlying these trading signals.
It’s been a rough quarter for altcoins and ICOs. The euphoria of 2017 feels like a distant memory.
So how’s CoinFi doing?
The good news is that we’re focused on the long-term, so a crypto winter (if indeed winter is here) doesn’t affect our plans.
However, a bear market like this is as good a time as any to re-examine some fundamental assumptions.
Let’s take a look at our roadmap for 2018Q3, 2018Q4, and 2019Q1
Near-guaranteed profit by lending cryptocurrency? The idea sounds great, but is there a catch? Find out in this episode of the CoinFi Podcast where the team explores nontraditional lending: how it works, its risks, and how it can be used to make profit.
Algorithmic trading, or algo trading for short, is a term commonly thrown around in traditional finance and usually brought up when talking about institutional money or market makers. In this episode of the CoinFi Podcast, you’ll learn how algo trading applies to today’s crypto markets, how high-frequency traders profit from algos, and why algo trading may actually benefit the average, everyday traders in the long run.
Trans-fee mining: a brand-new exchange token model with a great deal of controversy surrounding it. In this episode of the CoinFi Podcast, the panelists explore the benefits of the model, discuss its sustainability, make predictions for future exchanges, and more.
Here is a snapshot of top % gainers from the last 24 hours*, along with the market moving news surfaced by CoinFi News and vetted by CoinFi analysts.
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Was this information valuable to you? Do you want to see real-time market moving news analysis integrated into CoinFi News? If so, leave a comment below explaining why you need this feature and we'll give it priority.*We filter out coins with less than $200,000 volume, low quality projects, and non-english news sources.
Today we have a special episode of the CoinFi Podcast… Joining us is Pundi X CEO, Zac Cheah. In this episode, Zac explains how Pundi X works and shares his thoughts on the current state of cryptocurrency adoption and how Pundi X is helping bring cryptocurrency payments to retail markets around the world.