Institutional players are deepening their presence in the crypto market by the day. New crypto instruments, and tools, are being launched daily, making it easy for institutional players to participate in the market.
The latest of these is Fidelity which has launched an analytics platform called Sherlock. Fidelity’s platform has striking similarities to the Bloomberg Terminal and will combine blockchain data, crypto news, technical analysis, and social sentiment in a single portal.
The data will be collected from leading crypto data institutions, giving its users an edge in this market. Besides providing traders access to the best data in the market, Sherlock will also allow traders to back-test their strategies for more predictable trading.
Commenting on this development, Fidelity’s Vice President of product management Kevin Kora stated that the move was necessitated by the exponential growth in the digital asset management space. Kora added that while the crypto market was entering maturity, there was still a need for more refined access to data.
Market experts are also giving positive reviews for this platform. According to Kinjal Shah of Blockchain Capital, Sherlock will bring efficiency in crypto information analysis by putting together holistic market data in real-time.
This is not the first platform of this kind in the market. Sherlock will be competing with similar products such as Messari that started in 2018 and offer a wide array of institutional crypto markets analytics tools. Another project offering similar products is Delphi Digital, which has in-depth data for refined trading.