HONG KONG - Sep 17, 2019 - CoinFi, the leading market intelligence platform offering Wall Street-caliber trading tools, today announced a partnership with eToro, the multi-asset trading and investment platform, as a crypto assets research and data provider. The integration provides eToro traders and investors with access to a new CoinFi-powered research tab featuring real-time news, analysis, and technical market indicators. eToro acquired a significant stake in the CoinFi token (COFI) as part of the deal.
CoinFi’s research, news, and analysis will be available for all 16 crypto coins on the eToro platform. Product teams at both companies worked closely to seamlessly integrate data streams.
“In today’s volatile crypto markets, traders need up-to-the-minute, accurate information on which to base their trades,” said Timothy Tam, co-founder and CEO of CoinFi and former Goldman Sachs equities trader. “The partnership with eToro will help more than 10 million users make more informed decisions by keeping up to date on the latest news and market indicators.”
The addition of CoinFi’s research and data to the eToro platform facilitates a shared vision for both companies of opening up global crypto markets to everyone by offering transparent tools, news, and information. CoinFi is a currently the largest online crypto assets database, with information on more than 6,000 crypto assets and initial coin offerings (ICOs). The company also offers advanced token metrics for the entire Ethereum blockchain.
“Our deal with CoinFi further enhances our values, specifically innovation, openness, and quality,” said Yoni Assia, Co-Founder and CEO of eToro. “Traders and investors using the eToro platform want the most authentic, high quality information and data available for the crypto markets. Easy access to reliable information is paramount.”
Founded in 2007, eToro enables people to invest in the assets they want, from stocks and commodities to crypto assets. It is a global community of more than ten million registered users who share their investment strategies; and anyone can follow the approaches of those who have been the most successful.. eToro has raised $162 million in funding to date.
eToro was founded in 2007 with the vision of opening up the global markets so that everyone can invest in a simple and transparent way. The eToro platform enables people to invest in the assets they want, from stocks and commodities to cryptoassets. eToro is a global community of more than ten million registered users who share their investment strategies; and anyone can follow the approaches of those who have been the most successful. Due to the simplicity of the platform users can easily buy, hold and sell assets, monitor their portfolio in real time, and transact whenever they want.
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.