Just by looking at the number of exchanges on CoinMarketCap, you can see that they are multiplying and that the competition is fierce. The top 50 changes every week, it makes you dizzy. To stand out, an exchange must be innovative and allow its traders to have a good game if they want to win. This requires tools, indicators, reliable information and simple and effective use. This is why the added value proposition with the integration of Daneel is at the heart of the subject.
For all users of a cryptocurrency exchange, Daneel is an indispensable partner: with real-time access to relevant market information, the ability to distil large quantities of mood-driven data into direct suggestions is an asset for all. This involves an exchange scenarios integration, which offers exchanges the opportunity to integrate Daneel through our Widget or API.
Although current exchanges may be calibrated to their target user-base based on prior research, the data visualization provided through Daneel’s API and Widget adds new insights that were not possible to access before:
For example, Daneel now empowers exchanges to adapt directly in response to behavioral data that may anticipate future trading patterns. This will directly impact how exchanges position their offer to their target trader base, and also mitigate the reduction in commissions that arises from a difficulty to retain users over the long-term:
‘’Mitigating the difficulty to retain users over the long-term.’’
Keeping the user in one place
Under a Daneel-empowered exchange, users are now greeted with a newfound layer of control: with Daneel’s help bubble available at the bottom-right of the website, user are now able to probe the following factors to inform their next trade:
– The sentiment in the market
– The latest news that may have implications for their portfolio
– Predicted prices for their chosen cryptocurrencies
– Negative news and information that may have implications for one of their asset holdings
Widget Integration example on Binance
This additional layer of functionality not only stabilizes the retention of users for exchanges who may be seeking further reassurance in their trading decisions, but also addresses the factor that has long made trading difficult for the newbie investor: whilst seasoned investors may be accustomed to highly streamlined research practices that can be delegating to a surrounding team, the newbie investor lacks such luxury; this is a deterrent for many first-time users otherwise keen on jumping into the crypto market.
By not only modernizing and automating other aspects of the trading experience — but also automating the process of research completed to begin with — Daneel lowers the bar considerably for the average user; for what would usually take hours of manual research, Daneel achieves the same result within a fraction of a second.
‘’For what would usually take hours of manual research, Daneel achieves the same result within a fraction of a second.’’
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