Trading and investment platform, eToro has entered an official partnership with financial services firm The TIE, to jointly create investment plans and strategies which will be driven by crypto perception and sentiment as available on Twitter. Called “The TIE-LongOnly CopyPortfolio”, the feature will consistently use advanced machine learning as well as other related technology to run a consistent analysis of about 850 million tweets daily, analyzing them for crypto conversations and measuring general sentiment.
The Managing Director of eToro US, Guy Hirsch, has highlighted the new strategy as a way to bring investors and traders the kind of information that they need about the market. According to him:
“In traditional markets, retail investors have historically lagged behind the ‘smart money’ when it comes to the data and tools available to them. This puts individual investors at a major disadvantage. In the spirit of crypto and decentralized technology, we believe that offering institutional-grade tools to every investor will level the playing field and democratize investing.”
The new tool will search through Twitter posts, and try to fish out tweets that are about a specific digital asset. From there, the tool then tries to measure the posts relevance and also has a feature that helps it exclude auto bots from its calculations. The general perception will be measured for each asset and not a blanket measurement for the entire market, so traders and retail investors will have specific data about their preferred cryptocurrency.
Months ago, eToro launched a new crypto exchange for pro traders.
Image Credits: Pixabay
Keep in mind that we may receive commissions when you click our links and make purchases. However, this does not impact our reviews and comparisons. We try our best to keep things fair and balanced, in order to help you make the best choice for you.
