Crypto is arguably one of the fastest-growing technologies currently in terms of consumer and institutional adoption. With average global ownership of 3.9% and over 300 million active users, cryptocurrencies have enormous potential of driving next-gen consumer applications and products. Moreover, more than 18,000 businesses across the globe already support crypto payment solutions.
However, blockchain and crypto technologies are still at the beginning of the growth and adoption curves. At the same time, consumer applications leveraging these technologies generate granular, verifiable, and publicly available tons of data, which can help businesses understand the space better and reach the untapped verticals. Also, cryptocurrency data is critical in overall blockchain development services, especially if businesses are going to build more user-centric decentralized products for everyday consumers. Broscorp leverages existing API’s to collect industry data, analyze, and make sense of it. Here is how we do it and why crypto data collecting software is essential in this era. Keep reading to learn more about our crypto data collecting services.
What Crypto Data Could We Collect?
Application Programming Interfaces (APIs) are gaining popularity in data collection, thanks to their seamless compatibility with ready-made solutions and programs. That way, businesses and data scientists can bypass the need of building from scratch. Our custom software development company Broscorp is a go-to specialist in API integration. Currently, we are working on numerous requests from different projects that require data collection through APIs. We leverage crypto metrics from multiple sources and consolidate them into one system for real-time data collection. This streamlines cryptocurrency data collection processes, as well as cuts overhead costs for our customers. Here are examples of crypto data that we can collect.
Data from Social Networks
Broscorp API data collection tool can analyze various social media networks, such as Twitter, Reddit, news outlets, and Telegram to segment news types based on trending keywords. For instance, news stories that feature keywords such as #bitcoin and #scam can be marked as negative, while the ones with #bitcoin and #raise can be marked positive. The end-user can then access these real-time insights from a graphical dashboard.
We can analyze any crypto metrics, depending on our client’s request to give real-time data and insights into the industry’s leading spot and derivative cryptocurrencies exchange. Some of the metrics that we can look into include RSI, MACD, MFI, CCI, Bollinger Bands, Upper BB, Lower BB, Tenkan Sen, and Kijun Sen, among others. These metrics can help users derive data from various fundamental market-related activities, such as order book snapshots and tick-by-tick trades.
Machine learning helps us analyze and evaluate emotions from various sets of crypto user data available on the internet. This data collection can help our customers determine and predict the market situation on particular products and services. Insightful semantic analysis can also help forecast cryptocurrency values using crypto data API.
Custom Metrics Calculation
Besides creating metrics from existing sources, we can also compute custom, user-derived crypto metrics to drive more relevant analysis without sidelining the product, service, or coin in question. Broscorp can calculate custom metrics by designing math formulas to compute exact metrics.
Data from Blockchains
Thanks to the transparency nature of blockchain networks, we can 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 trading volumes, price fluctuations, etc.
Why Do You Need Crypto Data Collecting with API?
Data collection by leveraging crypto APIs gives you insights into market-related products and services on the go. You can take advantage of the ever-expanding trove of publicly available data in the blockchain industry to gain a competitive edge in crypto trading or build dApps that create more value for the end-user. Moreover, crypto data collecting with API will fundamentally disrupt the innovation of next-gen blockchain products and services.
Create a Custom Crypto Data Processing Solution with Us
Data insights and analysis can help you compete favorably with other players across various industries. In the blockchain space, collecting cryptocurrency data using multiple APIs puts you several steps ahead in terms of product/service innovation, trading, and overall investing. This also plays out excellently, given that the industry is still new and experiences rapid innovation. Broscorp team will help you pick the right metrics, create custom dashboards, and even customize them for real-time data gathering. Contact us today to explore our APIs crypto data processing options.