3 Data Sources

There are four distinct types of data that, when combined, cover how people use a particular cryptocurrency (blockchain data), what people think about it (community data), what people think the cryptocurrency is worth (market data), and what the development team is doing with their project and how they track against their promises (development data).

3.1 Market data

Market data is all of the information that is being originated on cryptocurrency exchanges. We will use APIs3 in order to access this information and make it available to our subscribers.

3.1.1 Platforms

We will start with integrating with the most popular exchanges, and plan to add more in the future.

  • Poloniex
  • Kraken
  • Bittrex
  • Bitfinex
  • Coinbase
  • LocalBitcoins

3.1.2 Metrics

For each exchange we will acquire and/or calculate the following metrics for each available trading pair4:

  • Exchange rate
  • Transaction volume
  • Bid-ask spread
  • Order book
  • Market cap

3.2 Blockchain data

Exploring blockchain data is the most sure way to find out how the token is being used. It is the closest proxy to a cryptocurrency’s utility. For example, if you have invested in an online betting platform, you would want to know statistics such as number of users and average transaction amount in order to assess whether current market price is undervalued, overvalued, or just right.

3.2.1 Platforms

Each cryptocurrency runs either on its own blockchain (such as bitcoin, litecoin, ethereum), or is implemented as a smart contract on top of an existing blockchain (like ethereum, waves, NEM). We’ll call the first kind platforms, and the second applications. Metrics aggregation modules have to be written differently for platforms and applications, and some of them are only available for platforms.

3.2.2 Metrics

  • Emission
  • Network hashrate5
  • On-chain transaction volume
  • Block size
  • Number of unique wallets
  • Number of unique funded wallets
  • Number of users

3.3 Community data

Each cryptocurrency represents a community of people who bought into its vision and have invested in it. It is humanly impossible to keep track of what people are saying online about each and every cryptocurrency. However, it is possible to calculate aggregate statistics that shed light on how active the community is and whether the community is pleased and optimistic or dissatisfied.

3.3.1 Platforms

  • Reddit
  • Bitcointalks
  • Steemit
  • Telegram
  • Twitter
  • Slack

3.3.2 Metrics

  • Message count
  • User count
  • Developer/founder presence number of users
  • Google search trends
  • Message sentiment6

3.4 Development data

This data is notoriously hard to acquire because it’s hidden in plain sight behind marketing speak, and the founders are generally disincentivized to share it should their project underperform. However, this data is too important to overlook and we will strive to get the full picture by crowdsourcing the missing pieces.

When available, we will fetch the following metrics:

  • Development activity (if a cryptocurrency is open-source)
  • Roadmap tracker