Coin Metrics Unveils Real-Time Aggregated Quotes for Crypto Assets and Pairs

https://coinmetrics.io/coin-metrics-unveils-real-time-aggregated-quotes-for-crypto-assets-and-pairs/

Coin Metrics collects quotes representing the best bid order and best ask order residing at the top of the order book for individual markets like coinbase-btc-usd-spot. In addition to this, Coin Metrics now calculates quotes for assets like btc and pairs like btc-usd by aggregating quotes across a selection of high-quality constituent markets!

Now our users can get access to the best bid and best ask for assets and pairs in real-time. Our aggregated quotes are conceptually similar to the National Best Bid Offer (NBBO), a regulation issued by the United States Securities and Exchange Commission that requires brokers to execute customer trades at the best available price.

How Can I Use Aggregated Quotes?

We constructed our aggregated quotes to target several potential use cases:

  • OTC trading desks can use our aggregated quotes as an input to inform the quotes they offer to their clients or as a benchmark to compare against.
  • Brokers can use our aggregated quotes as benchmark representing the National Best Bid Offer (NBBO) if regulations requiring brokers to adhere to best execution for their clients are enacted.
  • Defi protocols can use our aggregated quotes to monitor liquidity and trading conditions in real-time and adjust risk parameters or enact risk control measures if appropriate.
  • Our aggregated quotes are suitable for redisplay on a website or application to let users know the best bid and best ask in real-time.

How is the Data Served?

We offer our aggregated quotes through our /timeseries-stream/asset-quotes and /timeseries-stream/pair-quotes websocket API endpoints.

How are the Aggregated Quotes Calculated?

Coin Metrics selects a set of high-quality constituent markets by leveraging our Trusted Exchange Framework v2.0. We then calculate a trade volume-weighted average midpoint price and trade volume-weighted average bid-ask spread using the best bid and best ask of our constituent markets. Using these values, we can derive the aggregated best bid and best ask price. Finally, we sum the best bid amount and best ask amount across our constituent markets to derive the aggregated best bid amount and aggregated best ask amount.

For a more complete description of our methodology, please consult our Asset Quotes and Pair Quotes pages in our Knowledge Base.

About CM Market Data Feed

CM Market Data Feed is a comprehensive data solution for institutional investors, traders, and researchers seeking to gain insights into the cryptocurrency markets. Our data is harmonized to a standardized format, making it easy to compare and analyze across multiple cryptocurrencies and exchanges. Additionally, we offer historical datasets that are hard to find elsewhere, providing users with a deep understanding of the evolution of the crypto markets.

Our market data collection systems are engineered to be resilient and robust, ensuring that users have access to accurate and reliable data at all times. We utilize a multifaceted approach to ensure high levels of data quality and data integrity to deliver the most accurate and complete data available.

The CM Market Data Feed includes a range of datasets such as price data, volume, and other key trading metrics, that enable users to utilize our resilient infrastructure to save on development costs, make informed investment decisions, and conduct research on the cryptocurrency markets. Customizable data feeds and flexible pricing options make the CM Market Data Feed a versatile and cost-effective solution for users of all sizes, from large financial institutions to crypto-native investment funds.

Coin Metrics is committed to providing the most accurate and reliable data in the industry. Please contact Coin Metrics through our website or at info@coinmetrics.io for more information on the CM Market Feed.

The post Coin Metrics Unveils Real-Time Aggregated Quotes for Crypto Assets and Pairs appeared first on Coin Metrics.

CM Prices v1.0 Release Notes

https://coinmetrics.io/cm-prices-v1-0-release-notes/

Coin Metrics is pleased to announce the version 1.0 release of our CM Prices. Coin Metrics publishes a collection of prices consisting of the Coin Metrics Hourly Reference Rates (“Hourly Reference Rates”), the Coin Metrics Real-Time Reference Rates (“Real-Time Reference Rates”), and the Coin Metrics Principal Market Prices (“Principal Market Prices”). Now all three of our pricing options are collectively referred to as the CM Prices!

An updated policy document and methodology document can be found in our Knowledge BaseThis release includes the addition of several additional cryptocurrencies to our coverage universe and some terminations to our coverage universe. 

Coverage Universe Additions

This release expands our coverage universe to include 87 additional assets. This release brings our total coverage universe to a total of 642 assets. The additional assets are included below.

  • Bonk (bonk)
  • Celo Dollar (cusd)
  • Crabada (cra)
  • DeFi Kingdoms (jewel)
  • Aptos (apt)
  • Altered State Token (asto)
  • Aurora (aurora)
  • Avocado DAO Token (avg)
  • Axelar (axl)
  • Agoric (bld)
  • BreederDAO (breed)
  • Celo Euro (ceur)
  • Clearpool (cpool)
  • ECOx (ecox)
  • Evmos (evmos)
  • Reflexer Ungovernance Token (flx)
  • Franklin (fly)
  • Forta (fort)
  • GuildFi (gf)
  • Index Cooperative (index)
  • IndiGG (indi)
  • Insight Protocol (inx)
  • Multichain (multi)
  • Rocket Pool (rpl)
  • Reserve (rsv)
  • Stader (sd)
  • Saddle (sdl)
  • tBTC (tbtc)
  • Tribal Token (tribl)
  • GMX (gmx)
  • Beefy Finance (bifi_beef)
  • Dopex (dpx)
  • SpookySwap (boo)
  • Binance Beacon ETH (beth)
  • Magic (magic)
  • JUNO (juno)
  • PackagePortal (port)
  • Red Pulse Phoenix Binance (phb)
  • Kishu Inu (kishu)
  • LeverFi (lever)
  • Flare (flr)
  • Hashflow (hft)
  • FC Porto (porto)
  • Polymesh (polyx)
  • Lazio Fan Token (lazio)
  • Atletico De Madrid Fan Token (atm)
  • AC Milan Fan Token (acm)
  • XCAD Network (xcad)
  • SSV Network (ssv)
  • Prosper (pros)
  • REI Network (rei)
  • Kepple (qlc)
  • Dego Finance (dego)
  • VITE (vite)
  • Firo (firo)
  • IQ (iq)
  • FC Barcelona Fan Token (bar)
  • OG Fan Token (og)
  • Hifi Finance (hifi)
  • AS Roma Fan Token (asr)
  • Dypius (dyp)
  • Chrono.tech (time)
  • Sylo (sylo) Polkacity (polc)
  • Bitcicoin (bitci)
  • Firmachain (fct2)
  • ONSTON (onston)
  • Vesper Finance (vsp)
  • Arsenal Fan Token (afc)
  • Biswap (bsw)
  • Ellipsis (epx)
  • Nano (xno)
  • DeXe (dexe)
  • Core (core)
  • VEMP (vemp)
  • Cult DAO (cult)
  • Saitama (saitama)
  • Everscale (ever)
  • Baby Doge Coin (babydoge)
  • Dogechain (dc)
  • Karura (kar)
  • Fusion (fsn)
  • Metahero (hero)
  • Oasys (oas)
  • Hooked Protocol (hook)
  • Cocos-BCX (cocos)

Coverage Universe Terminations

The following 5 assets are terminated from our coverage universe due to low volume from our constituent markets token swaps, token rebrandings, or delistings from exchanges.  

  • Hifi Finance (Old) (mft)
  • Huobi Pool Token (hpt)
  • Hxro (hxro)
  • Neutrino USD (usdn)
  • Aion (aion)

About the CM Prices

The Coin Metrics Hourly Reference Rates is published once an hour and utlizes volume-weighted median and time-weighted average techniques over a 61-minute calculation window. Common use cases for the Coin Metrics Hourly Reference Rates include research, backtesting, calculating net asset value for investment funds, calculating closing prices for indexes or financial benchmarks, and settling financial derivatives.

The Coin Metrics Real-Time Reference Rates is published once a second and once every 200 milliseconds and utilizes volume-weighted median and inverse price variance-weighted median techniques. Common use cases for the Coin Metrics Real-Time Reference rates include serving as a data source for on-chain price oracles, risk management, indicative intraday values for investment funds and financial benchmarks, and any use cases where real-time pricing is needed.

The Coin Metrics Principal Market Prices is published once a second and adheres to the guidelines regarding fair value measurement issued by the International Financial Reporting Standards and the Association of International Certified Professional Accountants, specifically standards IFRS 13 and FASB ASC 820. The Coin Metrics Principal Market Prices identifies a principal market for each asset and utilizes the most recent price from this market. Common use cases are for fair value measurement, preparing financial statements, and calculating closing prices for indexes or financial benchmarks.

The CM Prices are designed to serve as a set of transparent and independent pricing sources that promote the functioning of efficient markets, reduce information asymmetries among market participants, facilitate trading in standardized contracts, and accelerate the adoption of cryptocurrencies as an asset class with the highest standards. The CM Prices are calculated using robust and resilient methodologies that are resistant to manipulation and adhere to international best practices for financial benchmarks, including the International Organization of Securities Commissions’ (IOSCO) Principles for Financial Benchmarks. The Coin Metrics Oversight Committee (the “Oversight Committee”) and an independent governance structure protect the integrity of the CM Prices and ensure the CM Prices serve as a source of transparent and independent pricing.

Please contact Coin Metrics through our website or at info@coinmetrics.io for more information on the CM Prices.

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Reference Rates Now Available at Sub-Second Frequency

https://coinmetrics.io/reference-rates-now-available-at-sub-second-frequency/

The CM Reference Rates are currently used by many market participants in a wide variety of use cases where timeliness is critical. Defi protocols, through on-chain oracles such as Chainlink and Pyth, and centralized lenders consume our prices to mark-to-market collateral from users, initiate margin calls and liquidations, and adjust risk parameters as market conditions change. These use cases benefit from the most up-to-date prices possible so that market participants can take appropriate action during periods of intense price movements. The expansion of defi protocols to blockchains with sub-second block times, such as Solana, also increase the need for more timely prices.

Coin Metrics previously offered our Real-Time Reference Rates published at a frequency of once per second for these use cases, and now we have increased our publication frequency to once per 200 milliseconds! For a limited time, we have allowed all subscribers to our Real-Time Reference Rate at one second frequency access to the 200 millisecond frequency. Further details on packaging are forthcoming.

Where can I get the data?

Our Real-Time Reference Rates at 200 millisecond frequency are served through our /timeseries-stream/asset-metrics endpoint. The frequency parameter now accepts the 200ms value.

Which assets and metrics are supported?

The 200ms frequency is supported for our full reference rates coverage universe of over 550 assets and for our reference rates metrics denominated in U.S. dollars, Euro, Bitcoin, and Ethereum: ReferenceRate, ReferenceRateUSD, ReferenceRateEUR, ReferenceRateBTC, and ReferenceRateETH.

Where can I find more information?

Please consult our Reference Rates Overview on our Knowledge Base for more information.

About the CM Reference Rates

The CM Reference Rates are designed to serve as a transparent and independent pricing source that promote the functioning of efficient markets, reduce information asymmetries among market participants, facilitate trading in standardized contracts and accelerate the adoption of cryptocurrencies as an asset class with the highest standards. The reference rates are calculated using a robust and resilient methodology that is resistant to manipulation and adheres to international best practices for financial benchmarks including the International Organization of Securities Commissions’ (IOSCO) Principles for Financial Benchmarks. The Coin Metrics Oversight Committee and an independent governance structure protect the integrity of the reference rates and ensure the reference rates serve as sources of transparent and independent pricing.

Please contact Coin Metrics through our website or at info@coinmetrics.io for more information on the CM Reference Rates.

The post Reference Rates Now Available at Sub-Second Frequency appeared first on Coin Metrics.