Digital asset exchanges move in excess $100bn every single day. New financial technology enabled by blockchain has nurtured many adjacent industries. A vital part of these are data vendors. Access to reliable data is the foundation for a functioning digital asset economy.
At DIA, we are building a platform for decentralised access to and verification of financial market data. At the same, a multitude of new and incumbent players are offering their services in this new market. Together with Outlier Ventures we conducted this study to provide a peek into this fast developing industry, displaying which companies take an active part in shaping the new era of financial data.
We analysed more than 40 companies selling digital asset market data, taking into account several general and category-specific factors like pricing models, data-depth and business types.
The USA host most data vendors, but Europe as a collective leads on a global level
One of the leading indicators for the quality of a vendors dataset is its data depth. We analysed the companies offerings in 2 ways: The number of exchanges the data is sourced from and the type of data they offer. Fee-based offers include exclusively paid-for datasets, partly free offers include both a fee-based and a free plan, while free offers exclusively include free access.
Only very few companies offer value-adding software in combination with their live and historical data
Free offers often include the most exchanges while paid services in 7 out of 10 cases come with a heavily curated list of exchanges
Considering the markets maturity we analysed the companies founding years and the specific market they operate in.
2014 marks the year many successful digital asset-only companies were founded which survived until today
Only 8 companies serve both markets, 7 of which also started their business in the traditional space
Just as significant as the data’s depth is its price. Data vendors employ various kinds of pricing models, ranging from enormous yet free data sets all the way to costly but well selected offerings.
Partly free datasets reign supreme but fee-based offers are catching up
The cheapest category also poses as the most popular one, prices between 100$-500$ are the least common
The research for this study was executed with the goal in mind to provide an accurate and up to date overview of digital asset market data vendors. The methodology clarification is supposed to make this study as transparent as possible and easy to understand. This study does not guarantee accuracy, it is based on publicly available information and should not be taken as official information but an overview of a newly emerged market.
All the companies in our study offer digital asset market data as a part of their service. Market vendors from China were excluded (1 company at the time of our research) as the research on Google or Baidu didn’t meet our criteria for an unbiased dataset, due to search engine algorithms and language barriers.
The data completely refers to the crunchbase database.
This category specifies the type of market data companies offer. The order doesn’t imply which market the company served first/originated from.
If a company offers software in which their offered market data is being employed in a value-adding way, e.g. for trading purposes, the category is marked as “Yes”. Otherwise “No”. The software is not necessarily included in the price of the “Pricing” category.
Companies business forms were analysed and sorted into supercategories. “Corporation” refers to the german business type “Kapitalgesellschaft”, “Commercial Partnership” to “Personengesellschaft” and Association to “Verein”. Companies with no registered business were classified as “for-profit” if they run ads or sell premium products.
# of exchanges supported
This category lists the amount of exchange APIs companies bundle in their own market dataset.
Pricing range in $/month
States the lowest and the highest price available for digital asset market data per user and per month. No extrapolations were made with yearly or multiple user plans.
Data pricing model
“Free” indicates that the company exclusively grants free access to its digital asset market data.
The numbers and charts above are based on available answers for each category. The data is up to date until the 14/01/2020. Not in all cases did all sources have available data, but we avoided categories with a small sample size in favour of detailed charts.
Sources include company websites, associated blogs and social media accounts. Apart from that we verified our data with each company.