Rajarshi Mitra
Independent Analyst
- One of these tools will broadcast the activity of one of Coinbase’s top traders.
- Another tool will help users to gauge the popularity of a particular asset on Coinbase.
San Francisco-based exchange giants Coinbase introduced new tools to help newbie traders get up to speed. As per their blog post, one of these tools will broadcast the activity of one of Coinbase’s top traders:
“The top holder activity signal is the percentage of Coinbase customers with large balances of an asset (top 10%) who have net increased (bought) or decreased (sold) their positions in that asset through trading over the last 24 hours. This is updated approximately every 2 hours.”
Coinbase users will also be able to see the median number of days that traders hold a particular asset on the exchange before moving it to another address. Another tool will help users to gauge the popularity of a particular asset on Coinbase, plus its relative price correlations to other crypto assets. A Coinbase spokesperson told CoinDesk:
“For individual investors, especially those new to crypto, we hope these new signals will encourage more informed management of a diversified crypto portfolio. We want trading signals to help first-time investors build the right portfolio to suit their investment goals.”
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