Global Study: Digital Asset Data Providers

A report on the new era of financial data vendors

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.

        

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Top findings

active companies
of funding surpassed
estimated sector revenue in 2019

Number of data vendors per country

The USA host most data vendors, but Europe as a collective leads on a global level

Companies funding per country

North America stands out due to a single enormous raise in Canada

Business types working with digital asset market data

For-profit corporations make up the majority however one not-for-profit association stands out

Data depth

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.

Key take-aways:

  • Fee-based vendors tend towards offering a more selected range of exchanges
  • Free and partly free offerings often include far more than 100 exchange connections, all the way up to 400 exchanges
  • Live data is the most vital type of market data, historical data is included in most datasets as well, complementary software which adds value to the vendors data however is rather rare

Types of offered datasets

Only very few companies offer value-adding software in combination with their live and historical data

Number of exchanges supported

Free offers often include the most exchanges while paid services in 7 out of 10 cases come with a heavily curated list of exchanges

Market structure

Considering the markets maturity we analysed the companies founding years and the specific market they operate in.

Key take-aways: 

  • 2018 has been the most active founding year for market data vendors
  • Companies founded before 2012 include high-ranking traditional companies
  • Most data vendors solely focus on digital assets, yet 8 companies also offer institutional data

Incorporations per year

2014 marks the year many successful digital asset-only companies were founded which survived until today

Market participation

Only 8 companies serve both markets, 7 of which also started their business in the traditional space

Pricing

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.

Key take-aways:

  • New competitors’ free & partly free business models challenge the established fee-based offers
  • Paid access for month start as low as 12$ and peaks at 2500$ for a single user

Distribution of pricing models

Partly free datasets reign supreme but fee-based offers are catching up

Average monthly cost per user in USD

The cheapest category also poses as the most popular one, prices between 100$-500$ are the least common

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Digital Asset Data Vendors – full list

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Dive into DIA’s concept:

Methodology of the report

Clarification

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.

 

Eligibility

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.

 

Companies funding per country

The data completely refers to the crunchbase database.

 

Market

This category specifies the type of market data companies offer. The order doesn’t imply which market the company served first/originated from.

 

Complementary software

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.

 

Registered as

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.

 

Quantitative methods

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

Sources include company websites, associated blogs and social media accounts. Apart from that we verified our data with each company.

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