The popular cryptocurrency market data provider CryptoCompare has responded to customers demand for a more complex data solution. The website now has a new application programming interface (API) that offers added scalability and more detailed information.
CryptoCompare is one of the most reliable sources for high-quality cryptocurrency market data, offering pricing and currency pair information on over 5,000 digital assets. In addition to market data, the website also conducts monthly exchange reviews and provides information on taxes and regulations in the sector.
The new API will work in conjunction with the existing free API that serves an average of 100 million requests per hour to customers around the world. This number is likely to increase as the new API is used to access extended historical data, advanced service level agreements and customizable call limits, as well as enabling locally cached data. Commercial redistribution rights have also been added in the new release, helping customers to service third-party collaborators.
CryptoCompare founder and CEO Charles Hayter was proud to announce the new developments:
“We continually invest in our technology and APIs to ensure our infrastructure remains robust and both the retail and institutional investor.”
The cryptocurrency market is currently struggling through an extended bearish downturn that has wiped off over half it’s value in the past month. Bitcoin (BTC) is trading just under $4,000, down from a high of $17,000 in early January. While critics of the new technology are vocal in their belief that the industry is collapsing, seasoned investors know that these market cycles are commonplace and always turnaround in the long term.