CoinUp has a strategic partnership with RootData to help improve the crypto ecosystem from top to bottom by utilizing institutional quality research and providing retail users with the same level of information they’ve been missing. As a result of this partnership, CoinUp will be leveraging RootData’s advanced real-time project research into their trading platform to create the most complete research to trading experience available.
Empowering the “Research-First” Trader
The biggest problem with trading crypto today is the “context switch.” A trader frequently switches from social sites where new chances are identified to secondary data sources like CoinMarketCap or RootData to validate information. This constant back and forth implies that by the time research is confirmed, the entry price has frequently altered.
The incorporation of RootData’s API into CoinUp addresses this issue by providing institutional-quality data on projects, including their funding history, background of teams, and maps of ecosystems, directly to the trading environment. Furthermore, this is consistent with an overall industry trend in which exchanges are transitioning to super apps, with as much emphasis on education for users as on providing liquidity.
Enhancing Decision-Making Through Transparency
CoinUp offers its users access to an exceptionally intelligent and comprehensive trading ecosystem, powered by RootData, which boasts a proven ability to manage “on-chain” and “off-chain” data in a clean and organized manner.
This partnership enables “one-stop decision-making” for traders by integrating the advanced methods described above. Instead of relying only on price tickers, traders can make informed decisions based on the overall health of a project.
CoinUp offers transparency in their trading platform, something that will be needed in a post-FTX world with traders having concerns about opaqueness in projects. CoinUp is being transparent with the “Root” of the data as an expression of their commitment to a professional, data-focused trading community.
The Growing Trend of Web3 Data Synergy
The partnership demonstrates an increase in the number of projects working to unify disparate data within the Web3 ecosystem. Additionally, this shows that CoinUp and RootData are moving towards a more interoperable utility, as data layers and execution platforms come together to create efficiencies across the ecosystem.
The growth in institutional interest in digital assets along with the corresponding increase in demand for verified data is having a positive effect on the development of the digital asset market. Chainalysis’ reports indicate that there is an increased reliance on having access to high-quality and reliable data that can reduce risks to both retail and institutional participants for the digital asset market to mature.
Conclusion
This integration is not simply an extension of technology, rather they represent a calculated enhancement for active traders within the retail trading community. By reducing the number of barriers to researching at a higher level, CoinUp will provide its customers with the resources to successfully navigate the unpredictable arena of Web3 as if they were an institution. By implementing these new features into their existing application, CoinUp has now set an entirely new benchmark for the modern-day trading experience.
