Oddup, a startup rating system, has announced that it is now offering digital currency ratings on its platform. Additionally it will be possible for users to get access to virtual currency price targets on the platform for periods that range between 6 and 12 months. Initially the leading 25 digital currencies will be rated using the proprietary approach of Oddup.
This approach uses an algorithm that is specially designed with a view to establishing price targets. Any changes that occur in the prices of digital currencies are also reflected based on how the price fluctuates and the targets that have been set, Oddup advises users to either sell, hold or buy.
“Our new cryptocurrency price target determination and rating methodology represents the extension of our market-leading startup rating system. Giving investors access to ratings helps fuel better investment decisions, particularly in the blockchain investment space,” said the co-founder and chief executive officer of Oddup, James Giancotti.
According to the co-founder and chief operating officer of Oddup, Jackie Lam, the platform’s users need data that is up-to-date, obviously. The new service will give clients the information they need to evaluate their cryptocurrency investments with a view to making informed decisions.
Two months ago Oddup introduced the Oddup Index which offers cryptocurrency and Initial Coin Offering listings as well as real-time monitoring tool for startups. At the time Giancotti said the main reason why Initial Coin Offerings were replacing venture capital funding was because startups are able to get access to capital at a faster rate. Additionally investors are in a better position of realizing benefits at a faster rate and this helps them match the needs of their portfolio.
With token generation firms can implement blockchain technology on their product portfolio. Companies are also placed in a position where they can build a community and offering that is completely new. However the amount of Initial Coin Offering activity is huge and the process of identifying the right option can be overwhelming and difficult.
Lam at the time said that the new product was introduced after getting interest from institutional and retail clients interested in investing in the crypto space.