SFOX to Launch FoxEye, New Cryptocurrency Transaction Data Tools

SFOX to Launch FoxEye, New Cryptocurrency Transaction Data Tools 1

The San Francisco Open Exchange (SFOX) has launched a new platform for tracking cryptocurrency market data. 

Dubbed FoxEye, the tool will be free to all SFOX users. It aggregates exchange volume for bitcoin and a handful of altcoins, such as ether and litecoin, from the world’s top 20 exchanges by volume. Time and Sales, FoxEye’s flagship feature, allows traders to crosscheck volumes, prices and the timestamps of executed trades across all of the assets that SFOX lists.

“FoxEye’s Time and Sales is the first service to provide users with aggregated, cross exchange, formatted, real-time, market-wide data for free. Anyone, regardless of experience level, can look at Time and Sales and understand at a glance what trade activity is happening on all exchanges connected to SFOX,” SFOX CEO and Co-Founder Akbar Thobhani told Bitcoin Magazine.

Making the Most of Cryptocurrency Market Data

With this latest effort, SFOX hopes to curate more accurate and transparent data feeds for its customers. Less reputable exchanges, for example, have been known to post phony trading volumes to fabricate trader demand.

Coinbase 3

Popular cryptocurrency metric site CoinMarketCap, for example, has published reported trading volumes that don’t reflect reality — according to claims by crypto analysis firm BitWise, 95 percent of this volume is fake. BitWise’s global head of research, Matthew Hougan, has said that the actual daily turnover of bitcoin relative to its market cap is similar to gold’s (0.4–0.5 percent), which he calls “extremely efficient” for a market of its size.

The issue of true volume is part of what SFOX intends to ameliorate with FoxEye. According to SFOX, the platform will “consolidate the trade history across all exchanges into a single view, similar to reading ticker tape for an individual stock, offering individuals and investors a very good view of the whole market by seeing all executed trades from the major marketplaces.” It adds that tools of this nature are typically only available to trading shops and engineers, but FoxEye will be offered at no additional cost to SFOX’s consumer base of some 175,000 users. 

The tool, Thobhani hopes, will provide greater transparency to the industry and level the playing field for traders who don’t have access to exclusive tools and data feeds.

“From the start, we have believed in an open approach (hence our name, Open Exchange),” Thobhani said. “We believe transparency is critical in developing a well functioning, efficient market. The early history of the crypto market has been one riddled with sophisticated traders getting an edge with private information and data feeds … We’re confident that this trend towards increased transparency will make the markets more efficient, less volatile and give everyone fair access to cryptocurrencies.”

By covering fluctuations in cryptocurrency transmissions in real time, SFOX hopes that the use of its new tool will democratize the crypto community’s access to information as a whole, as well as make it much more difficult for exchanges to attempt this self-aggrandizement scam. If even a tiny fraction of SFOX’s users regularly take advantage of FoxEye, it could have a major effect on cryptocurrency exchanges in the future.

SFOX to Launch FoxEye, New Cryptocurrency Transaction Data Tools 2
blank
About the author

E-Crypto News was developed to assist all cryptocurrency investors in developing profitable cryptocurrency portfolios through the provision of timely and much-needed information. Investments in cryptocurrency require a level of detail, sensitivity, and accuracy that isn’t required in any other market and as such, we’ve developed our databases to help fill in information gaps.

Related Posts

blank

E-Crypto News Executive Interviews


blank

bitcoin
Bitcoin (BTC) $ 41,603.00
ethereum
Ethereum (ETH) $ 2,463.23
tether
Tether (USDT) $ 0.998285
binance-coin
Binance Coin (BNB) $ 333.12
cardano
Cardano (ADA) $ 1.31
xrp
XRP (XRP) $ 0.752829
dogecoin
Dogecoin (DOGE) $ 0.210436
usd-coin
USD Coin (USDC) $ 0.999681
polkadot
Polkadot (DOT) $ 16.41
binance-usd
Binance USD (BUSD) $ 0.999884
USD
EUR
GBP
bitcoinBitcoin (BTC)
$ 41,603.00
ethereumEthereum (ETH)
$ 2,463.23
tetherTether (USDT)
$ 0.998285
bitcoin-cashBitcoin Cash (BCH)
$ 544.95
litecoinLitecoin (LTC)
$ 143.76
bitcoinBitcoin (BTC)
35.041,17
ethereumEthereum (ETH)
2.074,72
tetherTether (USDT)
0,840830
bitcoin-cashBitcoin Cash (BCH)
459,00
litecoinLitecoin (LTC)
121,09
bitcoinBitcoin (BTC)
29,800.02
ethereumEthereum (ETH)
1,764.40
tetherTether (USDT)
0.715067
bitcoin-cashBitcoin Cash (BCH)
390.34
litecoinLitecoin (LTC)
102.97

Automated trading with HaasBot Crypto Trading Bots

Crypto Scams

Hacks and Scam
The World’s Most Infamous Crypto Hacks and Scams
July 31, 2021
Cryptocurrency Exchanges
Cryptocurrency Exchanges and the Plague of Scams and Bans
June 29, 2021
blank
What Role Do Cryptocurrencies Play In The Era Of Ransomware Attacks?
June 9, 2021
Crypto Scams On The Rise As Market Enters Bull Cycle
Crypto Scams On The Rise As Market Enters Bull Cycle
December 22, 2020
Harpreet Singh Sahni perpetrated the Plus Gold Union Coin (PGUC) scam
Sydney Concert Promoter Harpreet Sahni Involved In $50M Crypto PGUC Scam
November 2, 2020

Blockchain/Cryptocurrency Questions and Answers

Short-Sell Cryptocurrency
How to Short-Sell Cryptocurrency: A Brief Overview
July 17, 2021
Klaytn
What Is Klaytn (KLAY) And How Does It Work?
July 16, 2021
Cryptocurrencies
Our Crypto Roundup Interview Asks- Do Cryptocurrencies Have a Future?
July 15, 2021
Solana
What Is Solana (SOL) And How Does It Work?
June 26, 2021
blank
What Is Plethori Platform And How Does It Work?
June 12, 2021


CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin41,575 0.44 % 7.29 % 24.27 %
Ethereum2,456.9 0.35 % 4.99 % 16.05 %
Tether1.000 0.21 % 0.05 % 0.20 %
Binance Coin332.16 0.23 % 7.32 % 11.60 %
Cardano1.310 0.78 % 3.82 % 8.75 %
XRP0.7517 0.17 % 4.07 % 23.34 %
Dogecoin0.2095 0.70 % 4.34 % 8.18 %
USD Coin0.9992 0.13 % 0.05 % 0.16 %
Polkadot16.31 0.80 % 11.31 % 22.15 %
Binance USD0.9984 0.18 % 0.05 % 0.56 %

bitcoin
Bitcoin (BTC) $ 41,319.00
ethereum
Ethereum (ETH) $ 2,452.74
tether
Tether (USDT) $ 1.00
binance-coin
Binance Coin (BNB) $ 331.78
cardano
Cardano (ADA) $ 1.30
xrp
XRP (XRP) $ 0.744097
dogecoin
Dogecoin (DOGE) $ 0.211756
usd-coin
USD Coin (USDC) $ 0.999053
polkadot
Polkadot (DOT) $ 16.42
binance-usd
Binance USD (BUSD) $ 0.999044