Nomics Launches Free Cryptocurrency Market Data API

Nomics Inc., which is known for its cryptocurrency market cap portal, recently launched a free crypto market data API to establish a data backbone for the open financial system.

Minneapolis, United States - October 4, 2018 /NewsNetwork/ —

Nomics Inc., which is known for its cryptocurrency market cap portal, recently launched a free crypto market data API. “We’re building the data backbone for the open financial system,” said CEO Clay Collins. “A rock solid, performant, and a lightning-fast RESTful crypto market data API is absolutely essential towards this end.”

The company’s free crypto exchange data API comes with dozens of endpoints, including endpoints that return sparkline, exchange rate, all-time high (ATH), and supply data. Also included are historic candle/OHLC data for cryptoasset trading pairs on exchanges like Bithumb, Binance, Bittrex, Bitfinex, Bitflyer, Gate.io, Coinbase Pro/GDAX, Gemini, HitBTC, Kraken, and Poloniex. Finally, the API’s free tier also allows fintech developers to programmatically retrieve current & historical prices of cryptoasset tokens like Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC).

One notable difference between Nomics’ API and competition is that the Nomics product has no rate limits. For example, CryptoCompare and CoinMarketCap’s APIs all limit the number of application programming interface calls that can be made per minute, whereas Nomics does not currently impose such limits. “Right now, as far as I know, we’re the only cryptocurrency and bitcoin price API that has normalized historical raw trade data” said CEO Clay Collins.

Collins is fond of noting that Nomics is an “API-first company.” “We actually created our crypto market data API prior to creating the front-end website for Nomics.com,” says Collins, “and Nomics.com uses the exact same free API that our customers use.” In other words, the developers of the Nomics.com website don’t have special access to Nomics’ market database but instead uses the API to build their crypto price aggregation website. The company insists that because they make money from their API — rather than their website — that users are not officially competing with Nomics if using their API. “Use our API to compete with CoinMarketCap, CryptoCompare, OnChainFX, Nomics.com or anyone else . . . you’re only really competing with us if you’re competing with our API” claims Collins.

In addition to their free plan, which is great for pricing websites and apps (and high-latency tooling for portfolio or price management) Nomics also offers paid API access for enterprises and funds who need high-fidelity, normalized, primary-source and gapless raw trade/tick data and order book data. According to the company’s website, the paid plan is great for funds, family offices, and professional traders who are: (1) doing deep analysis that requires as many data points as possible (i.e. tick data vs. candlestick/OHLC data), (2) creating new aggregate pricing methodology, (3) creating custom OHLC candles, (4) need low-granularity data for training machine learning models, or (5) need to backtest trading algorithms. The paid plan is also a fit if service level agreement (SLAs), uptime guarantees, and contracts are needed.

About Nomics

Based in Boston and Minneapolis, Nomics launched in January of 2018 as an API-first company and is led by co-founders Clay Collins and Nick Gauthier. The company was created in response to increasing demand for professional grade market data products and APIs for institutional crypto investors.

Contact Info:
Name: Clay Collins
Email: cdc@nomics.com
Organization: Nomics LLC
Address: 4150 Dight Ave, Unit 111, Minneapolis, MN 55406, United States
Phone: +1-612-504-9929

For more information, please visit https://nomics.com/

Source: NewsNetwork

Release ID: 417934