“Despite the decline in the price of many of the leading cryptocurrencies during 2018, we continue to see increasing demand from our customers for pricing coverage of the major names. The partnership with CryptoCompare puts pricing data for this emerging market alongside other asset classes, giving our customers a more comprehensive, holistic trading view in Eikon,” said Sam Chadwick, Director of Strategy and Innovation at Reuters. He also that the integration of cryptocurrency data would help educate and inform other organizations and industries interested in funding cryptocurrencies: “We are also starting to see more evolved organizations other than startups using smart contracts and distributed ledger technology to raise capital,” he said. “This is moving the scale into the private equity space.”. The integration of data from CryptoCompare into Reuters’ data feed is a major win for cryptocurrency enthusiasts.
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In addition to making cryptocurrency data accessible to mainstream and institutional investors, the move will also bring transparency to crypto markets by sourcing it from trusted organizations. Cryptocurrency exchanges have operated outside the purview of regulatory organizations, so far. This has led to questions about the integrity of their data and operations. Thomson Reuters’ involvement in broadcasting this data will ensure greater accountability and oversight. (See also: ).
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Investing in cryptocurrencies and other Initial Coin Offerings ('ICOs') is highly risky and speculative, and this article is not a recommendation by Investopedia or the writer to invest in cryptocurrencies or other ICOs. Since each individual's situation is unique, a qualified professional should always be consulted before making any financial decisions. Investopedia makes no representations or warranties as to the accuracy or timeliness of the information contained herein. As of the date this article was written, the author owns small amounts of bitcoin and litecoin.