Coinbase Ventures backs $3M round for trading data startup Nomics

posted about 1 month ago
Crypto data startup Nomics just secured $3 million in funding from investors including Coinbase Ventures. The Series A investment will be used to flesh out its engineering team, as well as continue working to index 95% of all data pertaining to how crypto assets are traded.

Nomics CEO and co-founder Clay Collins spoke to the immense amount of data Nomics is trying to index, explaining: “While it’s a fairly trivial task to price, and have listings for, 95[%] of all cryptoassets, getting raw ticks/trades, all on-chain data, and orderbook data (including historical order book) for these assets can prove to be quite an engineering challenge.”

The aim is for hedge funds and other investors to utilize the data in developing trading algorithms and tracking market fluctuations. Nomics has already indexed more than 3.5 billion data points, and sees roughly 35 million API calls each month, according to provided figures.
Tags: bitcoin, news