Thomson Reuters, in collaboration with MarketPsych Data, has expanded its sentiment data offerings to track the top 100 cryptocurrencies.
Launched in 2012, Thomson Reuters MarketPsych Indices (TRMI) analyze news and social media in real time across 2,000 top global news sites and 800 global financial social media sites. Earlier this year, bitcoin sentiment data was launched.
Thomson Reuters has now created a dedicated TRMI Cryptocurrency Sentiment package (TRMI 3.1), which monitors over 2,000 global news and 800 social media sites in real-time, yielding 43 themes and sentiments on the top 100 cryptocurrencies. Historical data dates back to 2009.
“The Thomson Reuters cryptocurrency survey revealed a shift in the market, with cryptocurrencies gaining some mainstream acceptance and financial institutions looking to start trading them over the coming months,” said Pradeep Menon, Managing Director, Global Head of Investing and Advisory, Thomson Reuters. “Adding a cryptocurrency-focused sentiment feed to our suite of cross-asset solutions has therefore enabled us to provide our customers with invaluable insights that may help them make strategic investment decisions.”
In order to identify the predictive value in this data, TRMI 3.1 leverages tools and a suite of quantitative research results developed by MarketPsych. It helps traders identify influential themes and more rapidly develop actionable strategies.
In a survey released in April, Thomson Reuters found that nearly 20 percent of financial were considering trading cryptocurrency over the next 3-12 months.
