fbpx
Tag

investment Archives - Coinscious

Practice Trading & Backtesting Cryptocurrency Strategies

Practice Trading & Backtesting Cryptocurrency Strategies

By | Cryptocurrency | No Comments

There was a time, in the not-so-distant past, when there existed only one cryptocurrency: Bitcoin. Since the emergence of Bitcoin in 2009, there are not hundreds, but thousands of cryptocurrencies available today. Crypto investors, both individual and institutional, want to succeed in this volatile marketplace by maintaining a strong portfolio and investing in assets that will maximize their profits at the lowest possible risk. In order to properly analyze risks and profitability, crypto investors need performance metrics to measure and evaluate their trading strategies. Here, we introduce new analytics, tools and resources that help crypto investors practice trading and backtesting to optimize their strategy’s potential.

Good Performance Benchmarks

Most crypto investors track cryptocurrencies based on their price. However, if you have a plethora of cryptocurrencies in your portfolio, it is not always easy to track them individually. Instead, benchmarks and indices are useful tools for tracking the performance of multiple cryptocurrencies based on a predefined set of metrics. Benchmarks are intended to be simple, transparent, flexible to changes, easy to understand and can be applied to measure the performance of any portfolio in comparison. We will analyze the performance of two cryptocurrency benchmarks more closely: CCi30 and Bitwise 10. 

Cryptocurrency Index 30 (CCi30) is one of the oldest indexes in the cryptocurrency space – its starting value is January 1, 2015. CCi30 is based on the top 30 cryptocurrencies by market capitalization to measure overall growth, daily and long-term movement of the blockchain industry. 

Bitwise 10 Large Cap Crypto Index (Bitwise 10) tracks the total return of the 10 largest cryptocurrency assets. These assets are measured and weighted by free-float and 5-year inflation-adjusted market capitalization.

What Do You Get In Return?

Timing is everything. When you enter the cryptocurrency market, results in different rates of return on your investment. Let’s explore three different scenarios. 

If you entered the cryptocurrency market in January 2017, CCi30 and Bitwise 10 benchmarks show that your return rates lie between 500-750% in profits (Figure 1a). In contrast, if you entered the market in January 2018, your return rates lie between 70-80% in losses (Figure 1b). Finally, if you entered the market in January 2019, your return rates lie between 10-20% in profits (Figure 1c). 

Figure 1a. Performance of CCi30 and Bitwise 10 benchmarks if investor entered the cryptocurrency market in January 2017. Return rates lie between 500-750% profit. 

Cryptocurrency Backtesting: Benchmark Return CCi30 BITX

Figure 1b. Performance of CCi30 and Bitwise 10 benchmarks if investor entered the cryptocurrency market in January 2018. Return rates lie between 70-80% loss. 

Cryptocurrency Backtesting: Benchmark Return CCi30 BITX

Figure 1c. Performance of CCi30 and Bitwise 10 benchmarks if investor entered the cryptocurrency market in January 2019. Return rates lie between 10-20% profit. 

Cryptocurrency Backtesting: Benchmark Return CCi30 BITX

Putting It To The Test

We tried a simple experiment starting January 1, 2019 to determine how profitable we will be compared to cryptocurrency benchmarks CCi30 and Bitwise 10. In the first week, we invested in 5 cryptocurrencies based on one of the two strategies below. After one week, we sold all 5 cryptocurrencies. We repeated this process every two weeks by selecting another set of 5 cryptocurrencies. 

Strategy 1

In our first strategy, Strategy 1, we choose the top 5 cryptocurrencies with the largest total returns in the past 30 days, found readily in our biweekly Market Reports. For example, in our latest market report from June 24, 2019 (Figure 2), the top 5 cryptocurrencies are Hypercash (HC), MonaCoin (MONA), Bitcoin SV (BSV), GXChain (GXC), and Bytom (BTM). Total returns in the past 30 days is also available in real-time through our Coinscious Terminal

Figure 2. Mean daily returns, historical daily volatility, total returns, and ex-post Sharpe ratio for each cryptocurrencies with the highest total returns from May 25, 2019 to June 23, 2019. The Sharpe ratio is calculated with the 10 year US Treasury bill rate as the annual risk-free rate.

Crypto Report - HyperCasH HC, MONA, BSV, GXC, BTM

Strategy 2

In our second strategy, Strategy 2, we choose the top 5 cryptocurrencies based on Sharpe ratios from the past 30 days, found in our Advanced Market Reports. The Sharpe ratio is a risk adjusted measure of return that describes the reward per unit of risk. The reward is the average excess returns of an investment against a benchmark or risk-free rate of return, and the risk is the standard deviation of the excess returns. A higher Sharpe ratio is better. Ex-ante Sharpe ratio is calculated with expected returns whereas ex-post Sharpe ratio is calculated with realized historical returns.

Will We Profit?

We ran our experiment every two weeks for three months. Now, let’s look at how our strategies, Strategy 1 and Strategy 2, perform when compared to cryptocurrency benchmarks CCi30 and Bitwise 10. 

Figure 3 shows that if we entered the cryptocurrency market on January 1, 2019, based on CCi30 and Bitwise 10 benchmarks, our rate of return lies between 10-20%. In comparison, the strategies from our experiment are much more profitable. By using Strategy 1, we yield an 80% return rate while Strategy 2 yields a 50% return rate. 

Figure 3. Cumulative return rates for CCi30 and Bitwise 10 benchmarks, Strategy 1 and Strategy 2 between January 1, 2019 to March 30, 2019. 

Cryptocurrency Backtesting: Benchmark Return CCi30 BITX Benchmark

We can look at performances of Strategy 1 and Strategy 2 through additional plots such as 30-day rolling Sharpe ratio versus time; 30-day volatility versus time; and drawdowns versus time. 

In figure 4a, we see that the 30-day rolling Sharpe ratio constantly decreases for Strategy 2 between the beginning of February to mid-March. This is helpful to perceive as we may consider changing our strategy if the Sharpe ratio continues to decline even further. 

Figure 4a. 30-day rolling Sharpe ratio for Strategy 1 and Strategy 2 between January 1, 2019 to March 30, 2019. 

Cryptocurrency Backtesting: 30-day rolling Sharpe ratio for Strategy 1 and Strategy 2 between January 1, 2019 to March 30, 2019.

Figure 4b. 30-day rolling volatility for Strategy 1 and Strategy 2 between January 1, 2019 to March 30, 2019.

Cryptocurrency Backtesting: 30-day rolling volatility for Strategy 1 and Strategy 2 between January 1, 2019 to March 30, 2019.

Figure 4c. Drawdowns for Strategy 1 and Strategy 2 between January 1, 2019 to March 30, 2019.

Cryptocurrency Backtesting: Drawdown

Practice Makes Perfect

Crypto investors are risk takers who know there’s a huge potential for profit. In order to make the most of their portfolio, crypto investors need access to high-quality historical and real-time technical data to backtest, evaluate, and optimize their trading strategies. By providing direct access to our team’s analysis, tools and accurate data, we make it easy for crypto investors to have all the necessary means to succeed on their own or through our backtesting services. In doing so, crypto investors can adequately manage a strong, profitable portfolio that has one, hundreds, or even thousands of cryptocurrencies.

Learn More

Find out more about all the freely accessible tools and resources we highlighted in this article.

  • This helpful guide is extracted from our CTO & Co-Founder, Daniel Im, and his presentation “Crypto Market Analysis, Analysis Tools & Data.” Watch the full presentation to discover how to detect suspicious exchanges and build a stronger cryptocurrency portfolio:

REPORT SERVICE

  • Market Report: an analysis of recent historical performances of the top 50 assets to identify current cryptocurrency market trends. SUBSCRIBE NOW

TERMINAL

  • Coinscious Terminal: real-time analytics on the top 100 coins/tokens, 18 mainstream crypto exchanges, and top technical trading indicators

SIGN-UP NOW FREE:   MARKET DATA API   |  ALERT APIREPORT SERVICES

Disclaimer

The information contained herein is for informational purposes only and is not intended as a research report or investment advice. It should not be construed as Coinscious recommending investment in cryptocurrencies or other products or services, or as a solicitation to buy or sell any security or engage in a particular investment strategy. Investment in the crypto market entails substantial risk. Before acting on any information, you should consider whether it is suitable for your particular circumstances and consult all available material, and, if necessary, seek professional advice.

Coinscious and its partners, directors, shareholders and employees may have a position in entities referred to herein or may make purchases and/or sales from time to time, or they may act, or may have acted in the past, as an advisor to certain companies mentioned herein and may receive, or may have received, a remuneration for their services from those companies.

Neither Coinscious or its partners, directors, shareholders or employees shall be liable for any damage, expense or other loss that you may incur out of reliance on any information contained in this report.

Building A Stronger Cryptocurrency Portfolio

By | Cryptocurrency | No Comments

With the cryptocurrency market still in its infancy, there are many windows of opportunity for the right investors. Crypto investors, both individual and institutional, want to succeed in this volatile marketplace by maximizing their profits with the lowest possible risk. However, with a plethora of assets to choose from, it’s not as simple as trusting biased opinions that voice optimism one day and skepticism the next. Instead, investors need to focus on researching the potential assets they’re investing in and understanding their risk profile to ensure success. Here, we introduce new analytics, tools and resources that help crypto investors easily identify valuable asset candidates that contribute to building a stronger cryptocurrency portfolio.

Understanding Risk-Return Tradeoff

Technical data may seem daunting perceive without the right know-how. A risk-return plot is a simple way to visually see an asset’s performance relative to its volatility. In the following example, we will examine a historical plot from our market report of the mean daily return versus daily volatility for the top 50 cryptocurrencies between February 28, 2019 to March 28, 2019.

Figure 1. Mean daily return against historical daily volatility from February 28, 2019 to March 28, 2019.

a) Comparing Similar Assets

Let’s say we wanted to consider a return level just above 1%, how do we determine which asset to consider adding to our portfolio?

In Figure 1, the red line (1) shows that there are four assets that have mean daily returns slightly above 1%: Litecoin (LTC), OmiseGO (OMG), Basic Attention Token (BAT), and Ontology (ONT). Although the assets may have similar daily return levels, they do not share the same behaviour.

Next, we look at the diagonal blue line (2) in figure 1 and see which asset falls on the left-most side. Assets towards the left of the plot represent assets with lower volatility. Therefore, among the assets that offer the same level of return, Litecoin is the least volatile and the best choice out of the four to add to our portfolio.

b) Investigating Outliers

Riskier assets are found in the top-rightmost corner of the risk-return plot. These outlier assets represent assets that offer the highest mean daily return but are also the most volatile.

In Figure 1, the green line (3) shows that Tezos (XTZ) stands out. Tezos is a self-amending proof-of-work dApp platform that removes the need to hard fork when implementing protocol amendments. Although, higher risk investments may have the highest potential return, there is no guarantee. We can use real-time analytics from our Coinscious Terminal to look at Tezos’ performance for a longer duration of time and determine whether it’s worth adding to our portfolio or if it’s too risky.

Figure 2. Tezos (XTZ) return and risk table from: https://terminal.coinscious.io

From the table in Figure 2, we see that in terms of return, Tezos offers positive returns with price changes – constantly growing from one day to three months. The same table also shows that in terms of risk, Tezos’ volatility over one month and one year are both relatively low, and its price sits on the higher end.

Based on the data above, Tezos looks to be a favourable asset to add to our portfolio. We can deepen our understanding of by looking at performance analytics, trend sentiments, and indicator analytics featured on Tezos’ individual asset page (Figure 3).

Figure 3. Tezos (XTZ) performance analytics, trend sentiments and indicator analytics from: https://terminal.coinscious.io/details/XTZ/en

Tezo’s overall one-year performance and risk analytics identify: Sharpe ratio, alpha, beta, r-squared, mean return and volatility values, maximum drawdown, Value at Risk (VaR), and expected shortfalls. Trend sentiments help gauge Tezos’ trend momentums and moving averages over long periods of time. Indicator analytics are useful for discovering which strategy works best for this asset under performance metrics like Sharpe ratio, win rate and profit factor.

Together, all this technical data objectively shows an asset’s performance compared to its risk, and helps crypto investors determine whether they are good candidates to add to their portfolio or risky investments to avoid.

Realizing Cryptocurrency’s Potential

Crypto investors know there’s a huge potential for profit. However, overcoming the risks requires effort and planning. Reading the whitepaper to understand the problem a project is attempting to solve, identifying the team behind-the-scenes, and determining the uniqueness and prospect of a potential asset are fundamental steps to take. However, they only represent the first phase of much bigger learning curve.

In order to make the most of their portfolio, crypto investors need to digest a lot of historical and real-time technical data to grasp the full tradeoff between risk and return. By providing direct access to our team’s analysis, tools and accurate data, we make it easy for crypto investors to have all the necessary means to succeed. In doing so, crypto investors no longer need to rely on biased opinions that favour currently hyped assets. Rather, they can focus on building stronger cryptocurrency portfolios by choosing valuable assets based on data-driven insights.

Learn More

Find out more about all the freely accessible tools and resources we highlighted in this article.

  • This helpful guide is extracted from our CTO & Co-Founder, Daniel Im, and his presentation “Crypto Market Analysis, Analysis Tools & Data.” Watch the full presentation to discover how to detect suspicious exchanges and learn how to backtest strategies:

REPORT SERVICE

  • Market Report: an analysis of recent historical performances of the top 50 assets to identify current cryptocurrency market trends. SUBSCRIBE NOW

TERMINAL

  • Coinscious Terminal: real-time analytics on the top 100 coins/tokens, 18 mainstream crypto exchanges, and top technical trading indicators

SIGN-UP NOW FREE:   MARKET DATA API   |  ALERT APIREPORT SERVICES

Disclaimer

The information contained herein is for informational purposes only and is not intended as a research report or investment advice. It should not be construed as Coinscious recommending investment in cryptocurrencies or other products or services, or as a solicitation to buy or sell any security or engage in a particular investment strategy. Investment in the crypto market entails substantial risk. Before acting on any information, you should consider whether it is suitable for your particular circumstances and consult all available material, and, if necessary, seek professional advice.

Coinscious and its partners, directors, shareholders and employees may have a position in entities referred to herein or may make purchases and/or sales from time to time, or they may act, or may have acted in the past, as an advisor to certain companies mentioned herein and may receive, or may have received, a remuneration for their services from those companies.

Neither Coinscious or its partners, directors, shareholders or employees shall be liable for any damage, expense or other loss that you may incur out of reliance on any information contained in this report.

Crypto Exchanges

How To Detect Suspicious Crypto Exchanges

By | Cryptocurrency | No Comments

The entire crypto market has been on a fast uptrend this past week with the recovery of bitcoin. For crypto traders, choosing the right crypto exchange platform to trade on is equally as important as choosing the right asset to have in your portfolio. With recent catchy news headlines about “suspicious exchanges” and “fake volumes,” the public has long speculated that exchanges have manipulated the crypto market. As easy as it is to be swayed by sensationalized headlines, how can crypto traders objectively look for suspicious exchanges by themselves?

Using Technical Data to Spot Abnormal Trends

In the following section, we will share examples of how to use our team’s tools and research – like our Coinscious Terminal and exchange reports – to learn how to detect suspicious exchanges on their own.

a) Real-time Analytics

We start by analyzing Figure 1 which shows huge spikes in Bitcoin volume and price pump that occurred on April 2, 2019.

Figure 1. Price of Bitcoin (BTC) in USD at Bitfinex on April 2, 2019 at 7 A.M. EST.

Crypto Exchanges

We can look at volume changes directly from our Coinscious Terminal for the top 18 mainstream exchanges. The data table in Figure 2, shows volume changes on April 2 for the top ten exchanges in blue. There are very drastic volume changes greater than 70% for all exchanges listed, except for Fcoin. Fcoin only had a 10% volume change, indicating that crypto traders should be wary of trading on this exchange as it is most likely faking its volume.

Figure 2. Top 10 crypto exchanges by ranked 24-hour volume on April 2, 2019 from: https://terminal.coinscious.io/exchange/

b) Historical Data

Next, we will analyze a plot of ETH/BTC daily volume for the same 18 crypto exchanges between January 16 to February 16, 2019 from our exchange report. In Figure 3, ZB is the only crypto exchange with an exchange volume curve that sticks out to the far-right. What exactly is going on here?

Figure 3. ETH/BTC pair daily volume for each exchange from February 16, 2019 to March 16, 2019 in USD.

Crypto Exchanges

We can further analyze this anomaly by using principal component analysis (PCA) and plotting exchanges based on the first two principal components, PC1 and PC2. From the plot in Figure 4, we can see several crypto exchanges clustered together at the bottom-left. These represent exchanges that are correlated with one another and hence, follow similar volume trends. Conversely, there are clear outliers like Binance, Fcoin, HitBTC, HuobiPro, OKEx, and ZB. These outlier exchanges have volume trends that diverge from the market mean.

Figure 4. PCA volume analysis for ETH/BTC. The biplot, where the two main principal components are used to represent the exchanges, allows us to identify clusters or groups of exchanges that might be correlated according to volume.

Crypto Exchanges

We can even take this one step further and use a more quantitative way of measuring, by looking at volume correlations between exchanges. In the green box in Figure 5, all the intersections coloured in bright orange means that these exchanges are positively correlated; they follow similar crypto market trend patterns.

Figure 5. Daily volume correlations between exchanges from January 16, 2019 to February 16, 2019 for ETH/BTC. Correlation ranges between -1 and 1. Correlation close to 1 indicates a more positive relationship between the pair of cryptocurrency returns and correlation close to -1 indicates a more negative linear relationship. Correlation close to 0 indicates no linear relationship.

Crypto Exchanges

The exchanges in the blue box, with intersections coloured in red and black are anti-correlated to the exchanges in the green box. Therefore, this means that bitFlyer, Fcoin, HitBTC, Zaif and ZB have volume trends that go against those exchanges in the blue box listed on the x-axis.

What’s really interesting are the exchanges in the yellow box. Some of these exchanges have no correlation to one another while others have negative correlations. An explanation for this may be due to different trading bot algorithms that run on each exchange. Since they have different algorithms, this creates no correlation or negative correlations between the exchanges.

c) Additional Research

This March, Bitwise Asset Management released a report to the SEC highlighting the problems and common misconceptions of crypto exchanges. Bitwise’s study reveals that “95% of volumes is fake and/or non-economic in nature, and that the real market for bitcoin is significantly smaller” [1].

By looking at the shape of trade size histogram distributions, they compare crypto exchanges that follow a natural exponential decay pattern (Figure 6a) versus suspect exchanges that have highly irregular shapes (Figure 6b). Their findings indicate that there are only 10 well-known exchanges that have actual volume including: Binance, Bitfinex, bitFlyer, Bittrex, Bitstamp, Coinbase, Gemini, Kraken, itBit, and Poloniex.

Figure 6a. Trade size histograms for well-known exchanges that show natural patterns

Crypto Exchanges

Figure  6b. Trade size histograms for suspect exchanges that show irregular patterns.

Crypto Exchanges

Developing Stronger Technical Skills

Technical data is crucial for understanding the nuances of the existing crypto market. All of the examples above demonstrate how simple it is to identify outliers and suspicious exchanges once crypto traders know how to read and interpret technical analyses. By providing direct access to our team’s analysis, tools and accurate data, we make it easy for crypto traders to have all the necessary means to succeed. In doing so, crypto traders no longer need to make decisions solely based on catchy headlines but rather, they can discover fairer and more reliable crypto exchanges based on objective data-driven insights.

Learn More

This helpful guide is extracted from our CTO & Co-Founder, Daniel Im, and his presentation “Crypto Market Analysis, Analysis Tools & Data.” Watch the full presentation to discover tools to help build stronger portfolios and learn how to backtest strategies.

Resources

Find out more about all the tools and resources we highlighted in this article:

REPORT SERVICE

  • Exchange Report: an analysis of recent historical volumes and prices of 18 mainstream exchanges to identify better or fairer cryptocurrency platforms. SUBSCRIBE NOW
  • Market Report: an analysis of recent historical performances of the top 50 assets to identify current cryptocurrency market trends. SUBSCRIBE NOW

TERMINAL

  • Coinscious Terminal: real-time analytics on the top 100 coins/tokens, 18 mainstream crypto exchanges, and top technical trading indicators

SIGN-UP NOW FREE:   MARKET DATA API   |  ALERT APIREPORT SERVICES

Reference

[1] Bitwise Asset Management. “Presentation to the U.S. Securities and Exchange Commission.” 2019, www.sec.gov/comments/sr-nysearca-2019-01/srnysearca201901-5164833-183434.pdf

Disclaimer

The information contained herein is for informational purposes only and is not intended as a research report or investment advice. It should not be construed as Coinscious recommending investment in cryptocurrencies or other products or services, or as a solicitation to buy or sell any security or engage in a particular investment strategy. Investment in the crypto market entails substantial risk. Before acting on any information, you should consider whether it is suitable for your particular circumstances and consult all available material, and, if necessary, seek professional advice.

Coinscious and its partners, directors, shareholders and employees may have a position in entities referred to herein or may make purchases and/or sales from time to time, or they may act, or may have acted in the past, as an advisor to certain companies mentioned herein and may receive, or may have received, a remuneration for their services from those companies.

Neither Coinscious or its partners, directors, shareholders or employees shall be liable for any damage, expense or other loss that you may incur out of reliance on any information contained in this report.

[VIDEO] Crypto Market Analysis, Analysis Tools and Data

By | Cryptocurrency, Videos | No Comments
This video is available to view with English, Chinese or Korean subtitles.

As part of this year’s Toronto Blockchain Week, Coinscious hosted Crypto Market Analysis & Insights.” During this record turnout event, we showcased speakers and panelists from a wide range of backgrounds –  cryptocurrency, blockchain, banking, government, legal and investment – to share their insights and unique perspectives on the current crypto market. This exciting opportunity allowed us to provide a wealth of knowledge to the general public which would otherwise only be reserved to members of those respective industries.

One important presentation from the evening, was by our CTO & Co-Founder, Daniel Im, who presented “Crypto Market Analysis, Analysis Tools and Data.” As a crypto data and analytics provider, our team has built a suite of tools and services to help cryptotraders, at all levels of trading, to maximize their strategies to obtain the highest returns. Challenges in the existing crypto market – like volatility and fake exchange volumes – can hinder strategies if cryptotraders do not have access to useful resources and accurate crypto data to overcome them.

In the video above, we share Daniel’s presentation as a chance to provide guidance to all cryptotraders on how to better determine: where to trade, what to trade and how to practice/backtest their trading strategies, all by simply using our data, tools and resources. For example, from our exchange reports, Daniel demonstrates how cryptotraders can identify outliers from technical data and shows ways to look for suspicious exchanges by using our volume correlation data. He also highlights how to use our market reports in conjunction with our Market & Trading Strategy Terminal to decide which coins/tokens to have in your portfolio based on risk versus return data and performance analytics.

Watch the full video to learn more about how to best pair our crypto data products and services with your trading needs. 

Check out the products and services we’ve highlighted:

REPORT SERVICE

  • Market Report: an analysis of recent historical performances of the top 50 assets to identify current cryptocurrency market trends. SUBSCRIBE NOW
  • Exchange Report: an analysis of recent historical volumes and prices of 18 mainstream exchanges to identify better or fairer cryptocurrency platforms SUBSCRIBE NOW

TERMINAL

  • Coinscious Terminal: real-time analytics on the top 100 coins/tokens, 18 mainstream crypto exchanges, and top technical trading indicators

DATA SERVICE

  • Market Data API: the most accurate and comprehensive raw crypto market VWAP, OHLCV, trade and order book data. Try our live stream API free. SUBSCRIBE NOW

Technical data is crucial for understanding the nuances of the existing crypto market. However, data is difficult to collect and interpret without the right resources and know-how. By providing direct access to our team’s research analysis, analysis tools and data, we make it easy for cryptotraders to have all the necessary means to succeed. We hope that through this video, cryptotraders can learn how to best apply these objective methods towards building a stronger portfolio. In doing so, cryptotraders no longer need to make decisions solely based on sentiments but rather, they can discover and improve existing strategies based on objective data-driven insights.

SIGN-UP NOW FREE:   MARKET DATA API   | REPORT SERVICES

Crypto Market Analysis & Insights

By | Events | No Comments

The long crypto winter is finally over and although the market is warming up, we are still far from turning growing interest into mass adoption. The recent downturn of December 2018 has damaged public confidence: the current mainstream media equates cryptocurrency with losses and scams. This type of misinformation puts a negative light on cryptocurrency and blockchain technology; innovations intended to positively impact lives everywhere. How can we succeed in reframing the mindset of those individuals who are disillusioned or have doubts about the market? Education is the key. Access to practical analysis and objective data is essential for laying the groundwork and shifting the collective mentality of crypto enthusiasts, investors, and sceptics alike from biased sentiments to rational decisions.

Toronto Blockchain Week

This April, Coinscious participated in Toronto Blockchain Week: an opportunity to celebrate how far cryptocurrency and blockchain technology has come and to demonstrate cutting-edge technical developments through seminars, workshops, panels, hackathons and networking events. Toronto is one of the leading global hubs for blockchain technology and it also serves as our home base.

As a data and analytics provider, we strive first and foremost to empower our users with the most accurate crypto data and in-depth resources to help them succeed. For Toronto Blockchain Week, our team took this exciting chance to connect experts from our network, in both fintech and blockchain industries, to educate and share their unique perspectives with the general public. Our team proudly presented “Crypto Market Analysis & Insights”, showcasing an evening line-up of presentations and panels to provide insights on the existing crypto market.

Our Strategic Advisor, Vikram, welcomes the audience and introduces the first round of presentations.

On the evening of April 24, 2019, we had a record turnout – a full house packed with familiar industry members as well as curious newcomers who all showed up for sushi, wine, and insights into the cryptocurrency scene. There were a total of six presentations and two panel discussions with speakers from a multitude of backgrounds including our very own CEO, Tom Bao, CTO, Daniel Im, and representatives of companies such as 3iQ (multi-cryptoasset investment fund manager), CIBC (bank), Highmark Global (health care), Osler (legal) and Rivemont (portfolio management firm). The event was moderated by our Strategic Advisor, Vikram Chopra.

CEO & Co-founder, Tom Bao, shares which crypto exchanges in Asia provide spot trading.

Tom, presented an “Overview of Crypto Institutions in Asia” highlighting current crypto exchanges and crypto funds. He shared the existing crypto exchanges in Asia that offer spot trading and derivative products (such as perpetual swap contracts and future contracts) and looked at their future objectives. Tom also discussed real performance results by active crypto funds and common trading strategies that they utilize: arbitrage, trend-following strategies, and traditional trading.

CTO & Co-founder, Daniel Im, begins his in-depth presentation focusing on where to trade, what to trade, and how to practice/backtest trade.

Daniel provided insights on “Crypto Market Analysis, Crypto Analysis Tools and Data” introducing tools that help build portfolios, showing ways to detect suspicious exchanges, and demonstrating how to backtest strategies; all simply through the use of products like our market report, exchange report, and Market & Trading Strategy dashboard. He demonstrated how the products and services developed by our team, allow users to take advantage of a purely objective approach towards bettering their trade strategies and ultimately, earning the highest return. With access to reliable resources, crypto trader no longer will feel the need to rely on hype and hearsay.

Highlights

Here’s a look at all the highlights from the night! Check out more photos on our Facebook page.

Martin LaLonde, Rivemont, discusses what the relationship is between the crypto market and retail investors.

Harpreet Geekee, Highmark Global, is a recognized expert in the blockchain and current adviser to the Canadian government on their blockchain strategy. Here, Harpreet spoke at length about how the long-term prognosis of both blockchain and crypto is positive.

Shaun Cumby, 3iQ, shares his experience on crypto trading and investment in North America and explains the long-term opportunities.

Our panelists discuss the “Future of the Crypto Market and What Are Possible Crypto Investment Strategies”

Thanks again to Toronto Blockchain Week, our expert speakers and panelists, and everyone who joined us! Our motivation to host the event was to provide attendees with a wealth of knowledge that can be applied to their existing trading practices and to reframe the mindsets all members of the crypto community by showcasing perspectives from government, banking, legal and investment points of view. It was a very successful evening, filled with many new connections and important insights. By having access to meaningful perspectives along with useful tools and analytics, we can begin educating and eliminating current misconceptions about cryptocurrency – ultimately, convert growing interest into mass adoption.