Coinigy, the cryptocurrency trading platform that integrates multiple exchanges, has released a new feature called the Returns Radar. The tool aims to revolutionise the way traders analyse and interpret crypto market movements. Coinigy says that its innovative tool enables traders to easily keep track of the percentage quarterly and monthly change in the prices of over 4,700 different cryptocurrencies and fiat currencies integrated into the platform.
The platform also provides a wide variety of useful features to help its users manage their digital assets more effectively. These features include TradingView charts, real-time price and volume alerts, a cryptocurrency screener, and smart portfolio monitoring. Returns Radar enhances users’ ability to make informed investment decisions. This is attributed to detailed insights into the performance of different digital assets over particular time intervals.
A look at Returns Radar features
The Returns Radar consists of the following features:
- Large Price Action Database: Coinigy says that it has one of the largest price action datasets available in the market, and this is accessible via the Returns Radar feature.
- Monthly and Quarterly Analysis: Traders can now monitor the monthly and quarterly percentage change in the prices of multiple cryptocurrencies. This enables a closer and detailed look at the performance of digital assets over shorter time frames. Ultimately, this comes in handy for traders when they want to spot trends and patterns.
- Enhanced Visualisations: The feature renders data feed in a simplified and intuitive style. The resultant visual appeal enables traders to readily spot and understand crypto market performance patterns and make well-informed decisions.
Cloud-based Coinigy, is headquartered in Milwaukee, Wisconsin provides support to 45+ exchanges, including major ones like Binance, Coinbase, Kucoin, and Kraken. Additionally, Coinigy has incorporated a database with trade and price information for various digital assets. By comparing prices from other markets, investors can identify price differences and capitalise on arbitrage possibilities. Furthermore, once users link their accounts, they can transact across multiple exchanges through Coinigy, instead of logging in to multiple exchanges, which saves them time.
Bearing in mind the crypto market dynamics, having a tool that analyses price action across multiple exchanges can prove the difference between loss and profit. Therefore, many traders are likely to onboard the Returns Radar feature to help them reduce the stresses of price action analysis. Also, such a tool can be quite useful for traders of all kinds, whether you practice scalping, trade hourly, daily or arbitrage.