- The number of individual and institutional investors in digital asset category is rapidly expanding in 2020, spot trading volumes in cryptocurrencies increased by 53%.
- The number of advisors allocating to crypto in client portfolios rose 49% in 2020.
- altFINS reached tens of thousands of monthly users (up 300% in last three months) from over 50 countries and is ready to unveil its advanced crypto analytical platform to the broad crypto investment community.
Following six months of beta testing and dozens of product enhancements, altFINS officially launched its web app for crypto traders to scan, analyze and trade altcoins. Simply put, while exchanges help investors buy and sell crypto, altFINS helps investors find what to buy or sell.
Covering over 5,000 digital assets across dozens of crypto exchanges, altFINS ingests hundreds of millions of price and trading volumes and performs over one billion calculations per day. The resulting data and analytics are then translated into actionable market insights and trading opportunities for active crypto investors. During beta testing period, altFINS’ user base ramped up to tens of thousands of monthly users.
CEO and founder Richard Fetyko says,
“We were particularly pleased to see how global our impact could be. During the last three months, our user base quadrupled and included users from over 50 countries including the US, UK, Germany, Iran, India, Turkey and Nigeria.”
The platform arrives at an opportune time as crypto investing reaches a tipping point, both in terms of trading volumes and number of investors.
The number of individual and institutional investors in the digital asset category is rapidly expanding, as evidenced by growing trading volumes on crypto exchanges. In 2020, the spot trading volumes in cryptocurrencies exceeded $21 trillion, an increase of 53% compared with 2019. Moreover, the trading volumes skyrocketed in late 2020 and early 2021.
Source: CryptoCompare, The Block
The recent IPO filing from Coinbase has unveiled additional data about the ongoing mainstream adoption of crypto among investors. In 4Q20 alone, the number of verified users on Coinbase’s platform reached 43 million, up from 32 million in 2019. The average number of monthly transacting users grew to 2.8 million in 4Q20, up from 1 million in 4Q19.
Also impressive is the inflow of institutional investors. During 4Q20, Coinbase’s institutional trading volume grew over 110% Q/Q to $57 billion, while retail trading volume grew by almost 80%. The company services 7,000 institutional accounts, up from 1,000 at the end of 2017.
While early phases of crypto trading were dominated by the rise of now over 300 crypto exchanges, the ecosystem is quickly filling in with other specialized service providers along the value chain including custodians, KYC/AML, smart order routing and management, arbitrage, derivatives, market makers, tax reporting and risk management, among others.
Certainly, these upgrades will facilitate additional adoption of crypto by traditional investors. According to a recent survey of nearly 1,000 financial advisors by Bitwise, the number of advisors allocating to crypto in client portfolios rose 49% in 2020, from 6.3% to 9.4%.
While many of the existing market players have focused on trade execution (exchanges, brokers, OTC desks, trading tools), altFINS’ emphasis, on the other hand, is on pre-trade and post-trade analytics. In layman’s terms, altFINS helps traders find trading ideas (screener, chart patterns, signals, news) and understand their trading performance across multiple crypto exchanges. It also educates traders using its extensive online knowledge base and video tutorials.
CEO and founder of altFINS Richard Fetyko says,
“We’re excited to officially unveil altFINS to the broad crypto investment community. We have worked tirelessly to create the most advanced crypto analytical platform where users can find profitable trading ideas. We think altFINS’ platform is incredibly unique and helpful to active traders and investors.”
altFINS is the only platform that offers a combination of the following.
- Automated chart pattern recognition
- Curated charts technical analysis on top 30 altcoins
- Signal summary with over 50 pre-set trading signals
- Coin screener using technical indicators (> 60 analytics)
- Alerts for price, price change, signals, news and events
- Twitter news feed and events calendar from hundreds of crypto projects
- Portfolio tracking
- Trading across multiple exchanges with unified order management
- Clean, ad-free user interface
altFINS is a cloud-based platform that enables investors and active traders to screen, analyze and trade digital assets across exchanges. The platform ingests real-time, tick-level data from exchanges, and calculates 60 technical indicators (analytics) such as SMA, EMA, MACD and RSI, across five time intervals. These complex time series data and analytics are managed by a proprietary data management system. As a result, the platform enables the screening of altcoins using technical indicators and automated chart pattern recognition, helping traders discover trade ideas. altFINS also enables trade execution, portfolio tracking and performance monitoring.