The TradeBlock deal illustrates how important data and indexes are becoming to the industry. The price of bitcoin has nearly quintupled since the beginning of 2020, setting a new high above $34,000 Sunday, driven by a wave of investors looking to ride its momentum. The renewed interest has spurred demand for more sophisticated ways to track and trade cryptocurrencies.
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CoinDesk buys TradeBlock, joining rush for bitcoin analytics
CoinDesk, which built its business around news, hadn’t previously tried to make a profit off its own data products and price index. This deal, said Chief Executive Kevin Worth, “is a recognition that the market has shifted.” CoinDesk operates a website that gets about five million views a month and hosts live conferences, including the annual Consensus conference in New York that is the industry’s largest.
