Coinbase announces new tools to help beginners understand the activities of seasoned traders.
A tool will broadcast the top Coinbase traders’ activity. The new suite of signaling instruments includes a tool.
“The top-holder activity signal (or the top 10% of Coinbase customers who have large assets) is the percentage that has traded over the past 24 hours to net increase (bought or reduced) their position in the asset. This indicator is updated approximately every two hours.
A Coinbase spokesperson stated to CoinDesk, that all Coinbase accounts will be monitored. Top holder activity will also be gathered from them.
The company, based in San Francisco, also shared metrics. Other data tools will help retail customers make better decisions. Coinbase customers can also see the median number of days that an asset has been held by traders before it is sold or moved to another location.
Another important tool is to gauge the popularity and relative price correlations of crypto assets. All these data tools, which Coinbase calls “exclusive”, are free to all users. The publishing was informed by a spokesperson:
We hope that these signals will help individual investors, particularly those who are new to crypto, make better decisions about managing a diverse portfolio of crypto assets. Trading signals are important to first-time investors to build the portfolio that suits their investment goals.