Economic Database of the Federal Reserve launches cryptocurrency index
The Economic Database of the Federal Reserve (FRED) of the United States added this week to its economic indexes the price quotation of four cryptocurrencies
The organization, recognized for its more than 500,000 economic time series, now has the bitcoin (BTC), bitcoin cash (BCH), ether (ETH) and litecoin (LTC) records available from 2014 to the present.
The FRED, as it is known the database that is maintained by the research division of the Reserve Bank of St Louis, now offers daily data on the prices of cryptoactives, taking the quote from the US exchange house Coinbase, according to announced the organism.
The FRED is considered one of the most accurate and comprehensive databases on the market, which is why the announcement represents an important sign of the adoption of cryptocurrency technology.
The data and graphs of BTC, BCH, ETH and LTC are available for customization of frequencies and formats, as well as for downloading the records.
In addition, in the FRED platform users can compare, free of charge, the data of their preference. This is a useful tool for researchers, analysts and journalists interested in cryptocurrencies, since in a few steps you could compare the relationship between the price of bitcoin and the volatility of the dollar.
This index is the second one launched this year by organizations or companies that are a reference in the financial industry, it should be remembered that last May Bloomberg launched its cryptocurrency market capitalization index in partnership with Galaxy Digital Capital Management LP