Cryptocurrency is now taking over the global financial system and its usage will perpetuate its meteoric rise. According to Insider Intelligence, payments done using cryptocurrencies are likely to exceed $10 billion in total transaction value globally for the first time this year, going above 70% from 2021. The research further showed that the number of US adults who own and use cryptocurrencies for payments in 2023 will rise by double digits.
On the other hand, technologies associated with blockchain and crypto are still being developed and adopted. Blockchain increases transparency, security, and the traceability of data shared across a business network. Cryptocurrency data is crucial in the overall blockchain development services, especially for businesses that are into user-friendly products.
At Broscorp, our forecasts and estimates are based on an analysis of qualitative and quantitative data from public companies, research firms, and agencies. Data is weighted based on soundness and methodology. In this article, we’ll show you how we do it, and the importance of crypto data collecting software in 2022.
Application programming interfaces (APIs) used to be limited to technical domains but have now become a significant tool in data collection – mainly owing to their compatibility with ready-made solutions and programs. Because of this, data scientists and businesses have no need to build from scratch.
At Broscorp, we specialize in customized APIs integration. Many companies now make their data available through an API, and we constantly have requests from different organizations that require this method of data collection. We make use of crypto metrics from several different sources and bring them together into one system for real-time data collection. This reduces overhead costs for our customers and simplifies cryptocurrency data collection processes.
Here are some examples of crypto data that we can collect:
Here we take a look at forecasting cryptocurrency value by Semantic Analysis. We take a look at the key compounding perspectives of current challenges, including blockchains, annotation, data collection, and filtering, using data streams and cloud platforms. We’ll evaluate emotions from various sets of crypto user data using Machine learning. Our customers can determine and predict the market situation on specific products and services using crypto data API.
The API is also an interface for researchers to gather data from a given social media service for empirical analysis. Our API data collection tool can analyze several social media networks, such as Telegram, Reddit, Twitter, and news outlets based on trending keywords.
If you’re new to the world of cryptocurrencies, it can be difficult to understand the metrics used to measure them. Our team of experts at Broscorp specializes in analyzing crypto metrics based on real-time data provided by our clients and current trends in cryptocurrency exchange.
Here are some of the metrics that we go into:
- Kijun Sen, Bollinger Bands, RSI, CCI, MACD, MFI, Upper BB, Lower BB, Tenkan Sen, and many others.
Crypto metrics are crucial because they give you a sense of the size of the cryptocurrency market and help determine the value of a particular cryptocurrency.
Custom metrics can be used in the same way as built-in metrics. Instead of creating metrics from existing sources,we can also compute custom crypto metrics to propel a more appropriate analysis without running down the product or service.
Blockchain networks have become so transparent that we can now parse cryptocurrency data and perform an analysis on the basis of the underlying chain itself. Our crypto data collecting services offer a parser for raw blockchain data to detect price fluctuations, trading volumes, etc.
Some crypto APIs provide multiple functionalities, meaning you can get more use out of them. Data collection with crypto APIs gives you a clearer picture of market-related products and services anytime. Not only is it a secure platform for crypto trading, but you also get so much flexibility with what you can do with your wallet without fear of a security breach or a fraudulent transfer.
Data insights and analysis can accelerate your business workflow using our custom crypto data processing solution. Our team possesses the right technical skills and will help you get the right metrics and create custom dashboards. Read more about the benefits of bespoke software. For a clear picture of what we do, check out our case study here.
Get in touch with us today to explore our APIs crypto data processing options.