“The situation where crypto is traded is different from other industries,” Rice states, adding that data providers in traditional equities markets only have to pull market data from one specific exchange. Rice gives the example of IBM; if a data provider needs market data from IBM, they will pull data from the New York Stock Exchange, where IBM is listed. Cryptocurrencies, however, are traded on multiple exchanges with different trading volumes and activity. In a press statement, Alex Pack of Dragonfly Capital said: “our firm works with some of the largest funds, exchanges, and traders in the cryptoasset class and we’ve seen first-hand how the lack of trustworthy data holds back the industry.”

https://www.theblockcrypto.com/2019/02/27/coin-metrics-raises-1-9m-to-bring-crypto-data-to-institutions/