This article was published on July 18, 2019

Coinbase lets you copy its top cryptocurrency traders with new tool

Users will see anonymized data

Coinbase lets you copy its top cryptocurrency traders with new tool
Yessi Bello Perez
Story by

Yessi Bello Perez

Former Senior Writer, Growth Quarters

Coinbase has today launched a tool that enables users to see information based on the activity of its top traders. 

As part of the new launch, customers will see the anonymized data of the top 10 percent of users and can use the information to create their own cryptocurrency investment strategy.

Data points will include top holder activity of each asset traded, the median number of days different assets stay in a customer account, the popularity of an asset, and asset price correlation, which will measure the extent to which cryptocurrency values have moved in relation to each other. 

“These new signals, which are in addition to the typical market data we already provide, will power a deeper understanding and comparison of cryptocurrencies and their communities so Coinbase customers can think beyond price when building their crypto portfolio,” Coinbase said in a blog post.

Coinbase’s new tool will help traders create a cryptocurrency investment strategy, says the company.

The tech unicorn, based in San Francisco, is valued at over $8bn and is one of the longest-serving companies in the cryptocurrency space. 

Back in April, Coinbase launched a cryptocurrency debit card for its UK customers. Then, in June, the company announced its rollout to more European countries, despite users complaining about several issues.

Coinbase also recently made headlines after Cloudflare, a major web host, suffered a technical glitch that sent multiple exchanges into unscheduled downtime a couple of weeks ago.

Disclaimer: This is not investment advice. Readers are advised to do their own research before investing in Bitcoin or other cryptocurrencies.

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