Nasdaq Gambles on Crypto Prediction Tool?
Main page News, Nasdaq, Cryptocurrency Exchanges

The second largest stock exchange of the world, Nasdaq will create a special tool for institutional investors to analyze the behavior of cryptocurrency markets. A source familiar with the plans of the stock exchange reported this. Last year, the platform launched an Analytical Center. A tool for predicting the price movements of digital assets will now be added to this center. The service uses machine learning and natural language processing (NLP) algorithms to collect data from social networks and other sources of information. Therefore, it gives investors a more complete picture of the possible market's dynamics. The new service will predict traffic of about 500 cryptocurrencies. The tool will use a three-way approach, analyzing the movements of funds kept in purses, data from crypto exchanges and social networks.


  • Official representatives of the exchange provide restrained comments on the issues of crypto tools. Bill Dague, the head of Nasdaq on alternative data, explained that Nasdaq is exploring cryptocurrency assets, but whether the product associated with cryptocurrencies will be launched is yet unknown.
  • A source familiar with the plans of the exchange stresses that at present the testing of the tool is already underway. A full-fledged launch of the cryptocurrency functionality is scheduled for November.
  • Earlier, there had already been a talk about launching cryptocurrency trade on Nasdaq. The media reported that trading will start already in the second quarter of 2019, and the Gemini platform will become a partner of the stock exchange. The possible emergence of instruments related to cryptocurrencies is another sign that Wall Street is interested in this sector.
Read also:
Please describe the error