Introduction

Cryptocurrency is an incredibly volatile investment. Oftentimes, we heard about how a casual tweet can result in a sudden price surge or depreciation. This highlights the significant influence that digital information can have on market movements.

This article focuses on:

• the design decisions made behind integrating The TIE’s crypto intelligence service into AAX exchange, and
• how the features are helping users to make better decision with data.

The partnership + My role

AAX is a crypto exchange trusted by 3 million crypto investors. In 09/2021, we were engaging in a partnership with The TIE, a provider of crypto market data and predictive sentiment analytics. My role is to define and ship solutions for this partnership, together with our deputy COO, engineering team, and The TIE’s representatives. The project is successfully launched on 12/2021.

How might we leverage crypto analytics to support traders in making data-driven investment decisions?

My goal was to implement The TIE’s crypto analytics into AAX’s trading app so that our user base can harness the integration to maximize their portfolio growth. During the process, we have to bear in mind that we are an exchange, less of a content provider. The solution should be supporting conversion and not bringing us too far as a financial service provider.

Building Awareness

First thing first, if there’s no awareness, there’s no subsequence action. Making use of The TIE’s SigDev API, we revamped “Market” to introduce news reading habits. We subtly migrated the News Feed in the same journey of existing price-checking behavior.

According to the law of similarity, if two things are similar, the thought of one will tend to trigger the thought of the other. It makes more sense for the migration because price and information are interrelated references. User’s learning curve for feature adoption is thus being minimized.

After the Market revamp is launched, we have recorded a higher average session frequency and longer session length in the first month. It implies are increasing the stickiness of our user to the product.

Information Tailored For Higher Relevancy

To keep our users focused, “favourite” is redefined as “watchlist” – This is to amplify its function from being a tag to being a curator of timely market information. The News Feed is thus tailored with higher relevancy to the user’s portfolio. However, we are not filtering the content on behalf of our users for looking broad or staying focused. Our users can always control the feed with just a toggle.

Handy To Take Informed Action

Instead of using the default in-app browser to display news content, a Crypto News Browser is intentionally designed for reducing bounce rate and encouraging conversion. Alongside of reading the news, we assist with action-taking function: Real-time price references and quick access to the most anticipated actions, i.e. Buy crypto, trade and add to watchlist.

Causality Discovery By Cross-Referencing

We understand that market indicator are everywhere. It is better for them to be in the same place for an easier sense-making process. Therefore we overlayed news, sentiment score, and technical indicators carefully on the same chart. Cross-referencing has become easier for traders to discover causality between data and price movement.

Colour semantic for emotion is linked with the predictive market movement, for example green represents positive emotion on Twitter, it usually lead to appreciation to a token. We leave wider spectrum for positive and negative alert, so that our user can always stay ahead of the movement.

Handy To Take Informed Action

We further utilise The TIE’s predictive sentiment analytics API for notification alerts. Users will be notified immediately of an asset’s sudden surge in volume and Twitter activity for a speedy response.

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Thank you for reading my article. I hope it provided you with some valuable insights. For a full design process sharing, feel free to reach out to me! :)