We have been heads-down building, but every once in a while it is important to raise our heads and communicate our progress to customers, partners and supporters. It is actually pretty overwhelming when I reflect on what we have accomplished and our participation across industry shows and events since my last update in September!
Buckle your seat belts, I’m going to do my best to catch you up on our progress. It wasn’t long ago that we had just launched a modest API and only supported Ethereum. Since then we have added 8 other blockchain networks and 17 Crypto Exchanges. Our customer base has been ramping and more people are building data-driven businesses using our APIs. Last month, customer calls to our APIs exceeded 1 million in a single day. Our infrastructure is built to scale and can handle much more, however, it was a small yet significant milestone for us demonstrating that people love our data and eating it all up!
Since September we have added RPC support enabling anyone seamlessly switch from running their own blockchain infrastructure to using our fast and highly available API that also includes metrics, analytics, and price data. We added Bitcoin, Litecoin, Bitcoin Cash and Bitcoin SV, Zcash and Stellar data to our Platform and APIs unlocking more multi-blockchain breadth. We also announced our Chainlink integration delivering data to their Oracle network powering smart contract access to real-world data, events, and payments! We also co-sponsored a major hackathon with Chainlink run by our partner Coinlist.
We have been on the road prospecting and building partnerships. Most recently we have made appearances at Voice of Blockchain, Devcon5, CESC, SF Blockchain week, Stellar Meridian, World Crypto Con, Consensus Invest and DAS: Markets.
I am often asked to quantify the size of the Blockchain and digital asset market data opportunity by institutional investors. Today capital market participants spend about $30 Billion per year on data. It would only take about 3% of that spend to be deployed into digital asset data to create a Billion dollar crypto market data opportunity. Many people are calling Amberdata “The Bloomberg Data of Crypto”. We combine on-chain data, crypto market data, metrics, and analytics into a unified platform and API delivering the data underlying the next wave of financial services. Which is clearly a billion-dollar opportunity in the future like Bloomberg was 20 years ago. However, the actual opportunity is much larger! It’s not often that we get to witness a technological revolution as significant as the Internet. I believe digital assets will have a similar order of magnitude impact on every industry, sector, and ultimately reach every consumer, as the internet did, but this will happen over a much shorter timeframe than it took for the internet to gain global reach. Cryptoassets are accessible to every participant on the internet, which enables global reach right now!
Blockchain and digital assets are posed providing disruptive alternatives to cloud computing, remittances, traditional payment networks, stores of value such as gold and even government-issued fiat currencies. Every major industry is evaluating these technologies. Consumers around the world will soon have easy access to digital assets thanks to platforms like Line, Kakao and Facebook Calibra.
Institutions are on-ramping to offer digital assets to their clients and financial services firms are beginning cover crypto: Morningstar has announced Cryptoasset ratings. The Derivatives market is also burgeoning with Bakkt and CME Futures now active markets. In 2020 we will see every major financial player have a toe in the water, bringing their client’s exposure to an emerging asset class. We are enabling traditional financial players. We announced joining Symphony’s partner ecosystem, launching Crypto Bot at Symphony Innovate enabling institutions with easy access to on-chain and crypto market data. Symphony’s platform enables workflow automation and brings its customers and partners together integrating into their existing workflow. Symphony users can now easily access market data for 2600 tradable digital assets across the top exchanges. They can also set and subscribe to alerts and be notified when key thresholds are exceeded.
When we look at the digital assets data landscape, exchanges represent fiat to crypto on-and-off-ramps. Blockchain networks and layer two solutions are the connective tissue that enables flows of value across these networks. Our mission is to make it easy to build upon and across blockchains and deliver real-time and historical intentions to trade, transactions, and reference rates for digital assets end-to-end.
We have been moving fast shipping new features, networks, and exchanges. We are leading the blockchain and digital asset data space and rapidly widening the moat between us and the competition. We are becoming the obvious solution for institutions’ digital asset data needs. Winning for us is creating value and increasing productivity for our customers and partners. This means reducing costs and operational complexity while making data-driven decisions easier!
We would love to hear from you so please drop us an email with how we can help.