Cryptocurrency exchange Coinbase has recently introduced their first-of-its-kind, trading signals, on its platform, as per an official blogpost on Medium.
A post said, “Trading signals are up-to-date, trusted, exclusive data only available on Coinbase.com and are meant to help our customers independently create and manage their own crypto strategy. Our goal is to provide accurate, objective measurements of cryptocurrency usage based on the aggregated and anonymized activity of millions of Coinbase customers. These insights are only available to customers signed in to Coinbase — and they are the first of their kind in crypto.”
The post further stated that the new signals that they will provide, in addition to the ones the platform already provides, will provide a deeper understanding and comparison of cryptocurrencies and their communities.
The three new features of the trading signal include, Top holder activity, Typical hold time & Popularity on Coinbase and Price correlation.
In a smart move, Coinbase further added that, “When considering these trading signals and other market data provided by Coinbase, please keep in mind that they are not and should not be considered investment advice, which Coinbase does not provide.”
It added, “Always make your own independent assessment of whether any particular investment or investment strategy is right for you, your risk tolerance, and financial means, before entering into a transaction.”
Last month, Coinbase was in the news when it experienced a brief outage when the price of bitcoin collapsed by $2000 in space of 15 minutes on Wednesday. We had earlier reported that the platform was rendered inaccessible on mobile and desktop browsers around 20:45 UTC. Bitcoin’s price, which saw a high of nearly $13,900 on Wednesday, fell over the past hour, dropping as low as $11,900. BTC’s price was at about $13,685 just prior to the fall, hitting $11,908.11 before bouncing back upwards — a difference of roughly $1,785.
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