Bitfinex to Add Santiment Analytics Tools

There are both free and premium metrics available to Bitfinex traders now
30 April 2019   512

Bitfinex announced the beginning of cooperation with the analytical platform Santiment, thanks to which its users will be able to obtain information about new projects and focus on various fundamental factors and indicators when building their trading strategies.

From now on, Bitfinex users will be able to access Santiment free and premium tools directly from the exchange interface. Purchase of the latter is carried out using the Santiment SAN token. Let's check, what they can provide, according to the developers.

Free Metrics:

  • General Project Info — Market cap, circulating & total supply, ROI since ICO and more.
  • Financial — treasury balances & wallet addresses.
  • Social — Social volume over time & word cloud.
  • Community insights — Articles, analysis and research curated by the Santiment team and trusted community members.
  • Daily snapshot of active addresses on the network.
  • Monthly snapshot of the project’s development activity.

Premium Metrics:

  • Santiment have built an array of proprietary historical & real-time indicators over the past two years. An initial set of these indicators have now been made available for Bitfinex & Ethfinex users for a small SAN token subscription:
  • MVRV (Market Value - Realised Value) — The relation of a coin’s total market cap and its ‘realised cap’. This also includes industry-first MVRV ratio for ETH and ERC-20 tokens, custom built by Santiment, available for all ERC20 tokens.
  • Network activity — daily active addresses and network growth.
  • On-chain transaction volume & Token Age Consumed.
  • Token circulation and token velocity.
  • Exchange Flow Balance — the combined value of tokens flowing in & out of exchange wallets.
  • Daily active deposits — the combined number of unique deposit addresses that are participating in exchange deposits.
  • Relative social dominance — the percentage share of mentions on crypto social media as part of a wider pool of 50+ of the most discussed projects.
  • Developer activity on GitHub.

Santiment Tools at Bitfinex
Santiment Tools at Bitfinex

To access the tools, you need to click on the Santiment icon near the asset ticker after selecting a trading pair. Metrics are also available to Ethfinex users.

Fake Trading Share to Reach 68%, - FTX Global

This figure, however, is significantly lower than what Bitwise's report and the discrepancy is explained by the difference in methodology
04 July 2019   1041

The exchange of derivatives FTX Global and Alameda Research conducted a study that estimated the volumes of fictitious transactions (wash trades), presumably prevailing in many cryptocurrency exchanges.

The report says that 68.6% of trading volumes displayed by CoinMarketCap are fake. This figure, however, is significantly lower than what Bitwise Asset Management announced in March.

The discrepancy between the results in almost 30% of the authors of the new study is explained by the difference in methodology. So, FTX Global is sure that Bitwise used an too strict approach to data analysis, which is why a significant proportion of real trading volumes fell into the category of fake ones.

While our methods are not foolproof, we believe they paint the most accurate picture of the true nature of cryptocurrency trading volume that anyone has made publicly available as of yet.

FTX Global Team

The Alameda methodology involves verifying the authenticity of data on trading volumes on various exchanges based on six different parameters, including manual verification of information and comparison of order books.

FTX Global Website
FTX Global Website

In particular, the experts found out that some sites provided data on the volumes of foreign exchanges for their own, with a slight delay in time. Other platforms used more advanced techniques - for example, they introduced large fake volumes only against the background of many smaller orders, thus trying to hide the true state of affairs.

The main purpose of these tactics is to raise the platform higher in the CoinMarketCap rating, creating a false impression of its liquidity. It also sometimes allows for the ability to charge a higher listing fee.