When it comes to gaining advancements in the cryptocurrency sector, there are two particular cryptocurrency exchanges gaining tremendous ground. At present, the two major cryptocurrency exchanges, Coinbase and Binance are making a huge difference in the cryptocurrency sector.
The particular cryptocurrency exchanges are determined to bring in more user adoption to the cryptocurrency sector. Just recently, both cryptocurrency exchanges reportedly went ahead and got themselves enlisted on the NASDAQ exchange.
Starting the month of April, both exchanges are publicly listed and trading their shares through the NASDAQ exchange. After going ahead and achieving the launch of its shares publicly, Coinbase has gone ahead and achieved yet another milestone.
According to reports, Coinbase is in the process of streamlining and making its cryptocurrency data analytics more detailed. Therefore, Coinbase is currently in the process of acquiring a platform that will help it gain prominence in the cryptocurrency data analytics sector.
As per sources, Coinbase is in the process of acquiring Skew that is known for its tremendous work in the cryptocurrency data collection and analytics sector. Skew is one of the top institutional-grade analytics firms that is based on blockchain infrastructure.
The vice president of Coinbase for institutional products, Greg Tusar, made the announcement about the company’s new move on Friday, April 30.
Tusar stated that the acquisition of the Skew platform would prove to be extremely beneficial as well as advantageous for the company. With its latest acquisition, Coinbase will have one of the best analytics platforms working alongside it.
Skew will offer tremendous support to the exchange in running a detailed and thorough analysis of cryptocurrency data. With this, the exchange will be able to provide more detailed analysis and data to the users. With the help of the firm, Coinbase will be able to generate reliable and more profitable trading signals.
The platform will help users view detailed analysis reports on cryptocurrencies and make decisions based on them. This way, the users will be able to make better crypto-trading decisions.
With the acquisition of Skew, Coinbase will be able to expand its serves to larger audiences. The exchange’s main goal is to gain prominence and more attention from institutional clients. Therefore, having such a platform onboard will help Coinbase gain the trust of institutional investors.
For them, what matters the most are signals that are reliable and well calculated. This is exactly the kind of purpose Skew exists to provide its users and help them in making more profitable decisions.
Coinbase has confirmed that even if Skew is acquired by the firm, it will have no impact on the clients that were already acquiring services from Skew. Some of the major firms already connected with Skew include Susquehanna International Group and One River Asset Management.