Popular U.S. cryptocurrency exchange Coinbase announced yesterday the launch of a signal service in which it will offer its customers 3 trading signals for free.
According to the platform's blog, the aim of this service is to help users develop an investment strategy.
Coinbase will provide 3 types of signals:
- Activity of main holders: percentage of Coinbase customers with large balances of a particular asset.
- Asset holding time and popularity: the average number of days an asset is stored in a Coinbase customer's account before it is sold or sent to another address or wallet. The popularity signal is a ranking (out of all tradable assets) of how many customers hold a particular cryptocurrency.
- Price correlation: it measures how crypto prices have moved in relation to each other.
This service is the first of its kind in the crypto world and is only available to customers registered in Coinbase.
These signals will be offered along with the traditional market data that the exchange was already providing to its customers.
Coinbase has warned its customers that these signals are not and should not be considered as investment advice.
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