- Dec 29, 2022
- 10
- 0
Exorde Index is a tool that crawls articles and posts on platforms such as Twitter and Reddit, uses AI to calculate the tone or attitude of the content, and then aggregate that into a “reputation” score.
Theoretically, the Exorde Index can be used to track any subject, from brands to movies to political opinions. But we’ve taken the decision to start with one of the most popular topics on the Internet… Bitcoin.
With this first iteration, the Exorde Index allow users to check the current online mood around Bitcoin during the last 24 hours, the last four hours, and even the last hour. This information can be utilised in a number of different ways, but we envisage that most will use this tool to help them make trading decisions.
What makes the Exorde Index unique?
Most trading software tools that aim to measure market sentiment are based on actual trading activity. The popular Fear & Greed Index, for example, looks at elements such as market momentum and volatility and attempts to gauge whether stocks are priced above or below average.
What the Exorde Index does is measure the market sentiment BEFORE the trades even take place.
It’s hard to overstate how significant this is.
Much has been made in recent years of the ability for traders to use computers to react to market conditions and make trading decisions in milliseconds, at a speed that human traders can’t hope to match.
But even the fastest electronic trader can, in theory, be beaten if information on market reputation is accessible before the trading activity happens.
Which is why we don’t consider the description “revolutionary” to be an exaggeration.
Exorde Index can level the playing field
The holy grail for traders is to gain an understanding or interpretation of the market that other people haven’t figured out.
Or at least to get there faster.
Large trading companies, for example, typically have the resources to crunch the data and draw accurate conclusions with greater speed than the average individual trader.
The Exorde Index has the potential to remove the advantage that large, wealthy organisations enjoy, for the following reasons:
If you’re in a hurry, you can simply go, right now, to https://exorde.io/ and view the live Bitcoin Reputation Analysis report. Otherwise, here’s an overview of what the report looks like and how it works.
1-hour Price Prediction: Unless you’re the kind of person who likes to crawl through every data point and come up with your own predictive formula, the display at the top of the page is going to be your new best friend. Our software continually reviews the incoming data and predicts how the price of Bitcoin will move over the next hour, starting in 15-minute increments.
In each case, our engine predicts whether movement will be up, down or flat. And you can scroll backwards to see how successful the prediction engine has been over the last few hours.
Prediction Accuracy: Exorde has always been, and always will be, committed to transparency. Which is why the second element on the report is our success rate at correctly predicting Bitcoin price movement.
Given that there are always three possible outcomes (up, down or sideways), anything above 33% would be considered statistically relevant. However, most traders will be looking for something above 50%, so this is our real target. Pleasingly, at the time of writing our prediction accuracy is almost at 60%. As the volume of data Exorde crawls grows, we expect to see this figure trend up.
BTC Price Evolution: For convenience the page shows the current Bitcoin price and how it’s changed over the last hour, four hours, 24 hours and 7 days.
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Theoretically, the Exorde Index can be used to track any subject, from brands to movies to political opinions. But we’ve taken the decision to start with one of the most popular topics on the Internet… Bitcoin.
With this first iteration, the Exorde Index allow users to check the current online mood around Bitcoin during the last 24 hours, the last four hours, and even the last hour. This information can be utilised in a number of different ways, but we envisage that most will use this tool to help them make trading decisions.
What makes the Exorde Index unique?
Most trading software tools that aim to measure market sentiment are based on actual trading activity. The popular Fear & Greed Index, for example, looks at elements such as market momentum and volatility and attempts to gauge whether stocks are priced above or below average.
What the Exorde Index does is measure the market sentiment BEFORE the trades even take place.
It’s hard to overstate how significant this is.
Much has been made in recent years of the ability for traders to use computers to react to market conditions and make trading decisions in milliseconds, at a speed that human traders can’t hope to match.
But even the fastest electronic trader can, in theory, be beaten if information on market reputation is accessible before the trading activity happens.
Which is why we don’t consider the description “revolutionary” to be an exaggeration.
Exorde Index can level the playing field
The holy grail for traders is to gain an understanding or interpretation of the market that other people haven’t figured out.
Or at least to get there faster.
Large trading companies, for example, typically have the resources to crunch the data and draw accurate conclusions with greater speed than the average individual trader.
The Exorde Index has the potential to remove the advantage that large, wealthy organisations enjoy, for the following reasons:
- The information the Exorde Index produces is available online, free of charge.
- The protocol that powers the Exorde Index is decentralised. This means no corporation or special interest group can alter the information, withhold it, or purchase it for their exclusive consumption.
- The system utilises the blockchain (it’s built on the Ethereum platform) which allows it to discover and categorise information faster and more thoroughly than even the largest individual corporation.
- The combination of decentralisation and blockchain technology means data can be gathered globally and the results analysed by country or region.
If you’re in a hurry, you can simply go, right now, to https://exorde.io/ and view the live Bitcoin Reputation Analysis report. Otherwise, here’s an overview of what the report looks like and how it works.
1-hour Price Prediction: Unless you’re the kind of person who likes to crawl through every data point and come up with your own predictive formula, the display at the top of the page is going to be your new best friend. Our software continually reviews the incoming data and predicts how the price of Bitcoin will move over the next hour, starting in 15-minute increments.
In each case, our engine predicts whether movement will be up, down or flat. And you can scroll backwards to see how successful the prediction engine has been over the last few hours.
Prediction Accuracy: Exorde has always been, and always will be, committed to transparency. Which is why the second element on the report is our success rate at correctly predicting Bitcoin price movement.
Given that there are always three possible outcomes (up, down or sideways), anything above 33% would be considered statistically relevant. However, most traders will be looking for something above 50%, so this is our real target. Pleasingly, at the time of writing our prediction accuracy is almost at 60%. As the volume of data Exorde crawls grows, we expect to see this figure trend up.
BTC Price Evolution: For convenience the page shows the current Bitcoin price and how it’s changed over the last hour, four hours, 24 hours and 7 days.
Exorde - What the World Thinks
Exorde processes millions of news articles, comments and social media daily, using complex analytics, generating actionable decision-enabling data.
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