Nasdaq Said to Be Building Tool to Predict Crypto Price Movements - CoinDesk

Nasdaq might be on the cusp of giving institutional investors an analytical edge on trading hundreds of crypto assets. According to a person familiar with the company's plans, the U.S. stock exchange is preparing to add tools for predicting the price movements of crypto assets to its Analytics Hub. The hub, launched last year, draws on machine learning and natural language processing (NLP) capabilities to parse through social media and other alternative data sources to give investors a better way to assess market movement. To date, the Analytics Hub has focused on traditional assets, but the addition of crypto seems to be another signal of Wall Street's growing interest in the nascent sector. Bill Dague, Nasdaq's head of alternative data, told CoinDesk that "given the abundance of interest, we are exploring cryptocurrency related datasets." "Whether or not we launch a crypto-related product remains to be seen."