Ideal Launches the First-Ever Crypto Analytics API Using Pyth Network Market Data
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.