Ideal’s market impact analytics provide crypto trading firms with unprecedented transparency on transaction costs and profitability
NEW YORK, February 2, 2022 – Ideal, the decision intelligence firm, today announced it has launched the first-ever crypto analytics API using Pyth Network’s real-time on-chain market data. Ideal’s Impact API empowers crypto trading firms with institutional-grade analytics and total transparency on their transaction costs and profitability.
Ideal’s decision intelligence solutions turn data analytics into clear actions for success, providing traders in crypto and traditional finance markets with performance insights that help them better understand their true execution costs and optimize their trading decisions. With the release of Impact API, Ideal is bringing an essential feature of healthy markets — transaction transparency — to crypto, a market where costs and spreads are often opaque today.
The Pyth Network is a next-generation oracle platform designed to provide trusted and verifiable market data to decentralized finance (DeFi) applications. Pyth’s coalition of market data publishers includes many leading players in crypto and traditional finance: Cumberland DRW, Galaxy Digital Holdings, Genesis Global Trading, Jump Trading, Talos, and others.
“The high-quality, real-time market data provided by the Pyth Network opens up a world of opportunity for crypto trading firms. We are thrilled to build upon Pyth’s innovation with our plug-and-play analytics. Our Impact API uses Pyth’s data to instantly calculate market impact costs and reveal what spreads traders are actually paying — we’ve seen cases where crypto spreads are 10 to 100 times higher than they would be in traditional markets,” said John Crouch, Ideal CEO. “In the coming months, we'll expand the range of available market data sources and add new analytics functionality."
"As the Pyth ecosystem continues to gain momentum with over 40 data providers contributing real-time pricing, and over 120 projects using the oracle, we are thrilled to see Ideal building advanced analytics using Pyth Network data," said Michael Cahill, Director at Pyth Data Association. "With our network of the world's most prominent trading firms, several regulated exchanges, and foundational crypto companies, we are proud to make financial data freely accessible to all. Ideal shares our desire to bring greater transparency and insight to both crypto and traditional markets."
The Standard version of Impact API is available for free on Ideal’s website. Professional and Enterprise versions provide premium access and features.
Ideal is a decision intelligence firm that helps trading teams optimize their performance and helps supervisory risk managers foster more ethical behavior. As former traders and quants, the Ideal leadership team has developed the solutions they wish they’d had in-house. Ideal solutions illuminate meaningful insights and clear action steps, empowering users to take proactive action today to stay ahead tomorrow. To learn more, visit idealprediction.com.
About the Pyth Network
The Pyth Network is a specialized oracle solution for latency-sensitive financial data that is typically kept behind the “walled gardens’’ of centralized institutions. The Pyth network is focused on finding a new and inexpensive way to bring this unique data on-chain and aggregating it securely. For more information about the Pyth network, please visit pyth.network.