As most of you already know, November marked a very exciting and busy month for us as we made significant progress on all fronts.
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.
CoinFi 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:
- 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:
In addition to the signals we’ve deployed above, our data science and engineering team are currently working on the following signals:
- “Abnormally large ETH transfers into exchanges” signal which is now active as of December 2018 (WIP in November). This is the Ethereum (ETH) variation of the abnormally large token transfer into exchanges signal.
- 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
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.