Outstanding System Reliability and Resilience at Scale

The fourth quarter of 2024 has seen massive volatility and market shifts, and with them huge spikes in market activity and trade volume. Our data platform has proven itself under the harshest conditions, with 100% uptime across our API’s and data processing systems.

Between the 11th and 12th of November, the system processed over 760 million spot trades. That’s over 9,000 trades a second consistently for a 24 hour period just for spot - a new record!

Our system architecture and design have been honed over 10 years of collecting exchange data, to include features such as:

• Multiple exchange connections running in parallel with automatic message deduplication between them.
• The ability to dynamically move data collection for a certain instrument to a different collection instance.

For more details on our exchange integration architecture, and some more insight on how and why it operates as it does, check out our multiple part blog series here: https://ccdata.io/blogs/exchange-integrations----overview

Order Book Enhancements

It has been a busy quarter in crypto markets, that has been reflected in the number of orders flowing through our spot and derivatives integrations; this month we saw in excess of 1.3 million updates/s all processed and passed though our system! This is due to the continuing enhancements made across the following areas:

• Improved minute-orderbook app performance by optimising snapshot parsing and our arithmetic library for the futures and options orders.
• Reduced memory usage by optimisng string variable usage and comparisons for enhanced efficiency to handle larger order bursts.
• Improved parsing logic in the minute-orderbook system for reduced errors and increased efficiency.
• Exchange downtime mitigation improvements including developed a backfill program from raw snapshots to enhance minute-orderbook data for key instruments after integration downtime. In addition to Improved reconnection handling in the websocket library to minimize rate limiting during exchange maintenance.
• With more exchanges and orders means enhanced monitoring and Slack alerting for message flow issues, aiding in faster issue triage by the 24-hour support  and engineering teams.

Continued Growth of Spot and Futures Exchange Coverage

As always, we have been looking to onboard new exchanges to expand coverage of our core trade data offering. The centralised exchange landscape is constantly evolving and shifting, with users demanding data from the hottest trading venues.

This constant expansion brings more accurate pricing, coverage of a wider range of assets, and increased liquidity to our CADLI aggregated index family.

‍CCData Blended Prices

As the market matures and investors increasingly adopt stablecoins as a means of transaction, some cryptocurrencies still lack sufficient liquidity when traded solely in USD, highlighting the need for reference prices that blend fiat and stablecoins. 

CCData Blended Prices integrate fiat and stablecoin pairs into a final USD price. In particular, CCData Blended Exchange Variant Price (CCIXBE) seamlessly blends USD, USDC, and USDT to deliver a comprehensive USD reference price for cryptocurrencies

Similarly to CCData’s CCIX flagship reference prices, CCIXBE is FCA regulated and the methodology is calculated as a real-time 24- hour volume-weighted average price using a customised selection of exchanges and an outlier detection methodology. 

CCIXBE addresses liquidity challenges by offering a robust and liquid reference price. This approach not only enhances market efficiency but also provides traders and investors with a reliable benchmark, facilitating smoother transactions in the evolving crypto landscape.

Link to CCData’s website: https://ccdata.io/indices/ccdata-blended-price-indices

Acquisition of CCData by CoinDesk

You may have seen the exciting news this year about CCData and CryptoCompare being acquired by CoinDesk, the leading media, events, and indices company in the digital asset sector.

This acquisition represents a significant milestone for our company, empowering us to enhance the value we provide to our clients and unlock exciting new opportunities for our combined network of users.

You can read the full announcement here.

As always, you can continue to rely on the same transparency, integrity, and excellence in service that you’ve come to rely on from our market-leading data and index solutions and award-winning research. 

We look forward to sharing even more valuable insights and best-in-class data and index solutions to accelerate the adoption and understanding of the digital asset sector - all while maintaining the quality you trust. Watch this space for exciting news to come in the new year! 

Share Your Thoughts

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