We have been working on an API service to accept positions from customers on the Crypto Statto platform to generate trade events. The first phase is accepting crypto positions and trade definition rules, to return trade instructions. Later phases will allow our users to hook up their cryptocurrency portfolios, with the intention of being able to manage the portfolio and automate their trading.
The team behind Crypto Statto are users of different trading exchanges and are quite keen to explore Coinbase as a starting point.
We found there to be some good interesting tools that can automate trading - trading bots, rule engines. We were initially more interested in the ability to understand our portfolio and highlight potentials for trading, and execute trading automatically in future.
Discussion of any cryptocurrency assets, blockchains, trading strategies does not recommend advice.
Price action and not missing out
FOMO (fear of missing out) is not what we are referring to. Missing out in this context means when small changes and swings cycle back but we as humans cannot take the opportunity to execute these trades - for example, when you are sleeping. Most platforms do not allow you to chain trades together, once a limit order hits you need to manually set up a new limit order. There are rules engines that does this but we find them complicated.
Setting up portfolios to allow software to access your crypto portfolio for read only access
Crypto exchanges gives their customers functionality to set up multiple portfolios and grant access to third party software via API keys. This will be read only by default.
We are producing connectors to some of the leading cryptocurrency exchanges. We are looking at the possibility to provide middleware that runs on your machine to avoid the risk of your data been compromised.
One of the important features of a crypto market reports platform is how we look at data not just of course the hourly/daily/weekly/range. The focus is more on identifying differences between coins over smaller time horizons. This is where we have found most of the opportunity. Successful cryptocurrency exchanges often present cryptocurrencies by their hourly, 24 hours, and weekly price movements in terms of a percentage. This type of data a lot of smaller movements are hidden from plain sight. As we start to go onto some of the excellent charting tools online and in-app, we find ourselves going in one cryptocurrency at the time - this can be a slow process, focusing too much on the granular view of the crypto asset, we find ourselves unable to see the big picture. The Crypto Statto Crypto platform provides our users with a different perspective on market data.
Convergence, divergence, to identify trading signals
Most of the reports we have built so far focus arounds differences from the norm. We may want to see if there are certain coins behaving differently to others. The aim is to give traders a better perspective on coin metrics when thinking about setting their trading limits.
Trading Positions API coming soon
There are plans to scale out a service to let individual Crypto Statto members have either an individual or shared service to analyse their positions. We are very clear on not storing customer data centrally and selling on third parties like some of the "free" trading platforms down the road.
First cut of trade engine with sample/synthetic trade positions data completed - October 2024
After finally launching a new cryptocurrency analytics platform several months back, and adding a host of new features including reports and better data management, we have finally picked up where we left off on a trade position management utility.
So far we've created synthetic trade positions and synthetic trade definitions to generate play list of trade instructions denoting a very combination of buys, sells, and cancel orders.
Our plan is to start producing some data for our platform in the next few months just to give an early feel for our audience.
Please do be patient, we have a lot more work to do with regards to the current set of reports and data within our platform.
The Future - DEX (decentralised exchanges)
The time will come where when users within the cryptocurrency space will start to look outside of centralised exchanges. For one, some exchanges are being more regulated by governments and financial authorities. The push for this is unlikely to be due to the typical FUD reasons around criminality and avoiding crypto taxes, but more to do with self-custody and reducing the complexity involved in managing your crypto assets. There will still need to be capabilities to provide information to centralised authorities dependent upon your jurisdiction.
A very good example of this is eHEX and pHEX. As a brief introduction eHEX (HEX) was introduced as what can be thought to be a Certificate of Deposit (CD) whereby interest is accrued through staking your capital for a set period of time. Remember that one of the original claims stated by the creator of X is that there should not be any expected future gain based upon what is staked.
The HEX token on a given blockchain, it may not be certain exactly how it will be stored, staked, and redeemed. For example we now have an entirely new blockchain called Pulsechain to take over from the Ethereum blockchain to reduce fees. The key point here, there can be uncertainty as to how tokens and crypto assets may be exchanged. DEXs can give individuals more autonomy over self-sovereignty and they may wish to work with decentralised exchanges. Certainly
We envisage that tools will be needed for centralised exchanges and decentralised exchanges.
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