Blockchain Monitoring Platform PARSIQ Integrates with Bitsgap For Automated Trade Order Executions

Blockchain Monitoring Platform PARSIQ Integrates with Bitsgap For Automated Trade Order Executions

Blockchain News
July 10, 2020 by Editor's Desk
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PARSIQ, a blockchain monitoring and workflow automation platform that offers tools for analyzing, detecting, and preventing cryptocurrency-related fraud, states it wants to become the “Zapier for blockchain.” As stated in a release, PARSIQ works on a “multi-level” bridge between various blockchains and various off-chain applications. PARSIQ’s characteristics have been intended to automate the blockchain analytics
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PARSIQ, a blockchain monitoring and workflow automation platform that offers tools for analyzing, detecting, and preventing cryptocurrency-related fraud, states it wants to become the “Zapier for blockchain.” As stated in a release, PARSIQ works on a “multi-level” bridge between various blockchains and various off-chain applications. PARSIQ’s characteristics have been intended to automate the blockchain analytics and monitoring process. The company’s tools can offer “customizable” workflows with “real-time intelligence.”

As noted in the announcement, “PARSIQ has integrated with Bitsgap to set a new standard for automated trade order executions based on real-time on-chain data.” Retail and institutional traders will be capable of automating trade order executions over various digital asset exchanges. The automatic trades will be “triggered by real-time on-chain insights.” PARSIQ will enable users to set parameters for different on-chain events that will automatically execute trade orders by Bitsgap’s terminal. The company claims that these characteristics found a “new standard” for digital asset trading workflows.

PARSIQ’s clients involve over the counter trading desks, crypto-asset exchanges, and individual digital currency traders. These consumers will now have the alternative to combine both platforms through PARSIQ’s web portal to get better analytics for more informed decision-making. The information may be automatically fed into Bitsgap’s trading bots.

Tom Tirman, the co-founder at PARSIQ, said in a statement, “Being able to monitor on-chain transactions is an important method for staying ahead of the market, and also be the first to know, for example, that a whale has moved a substantial amount of a digital asset to an exchange. Now, our users can not only easily monitor transactions and be notified in real-time, but also create predefined workflows to automatically execute a sell or buy order when certain transactions occur on the blockchain.”

Max Kalmykov, CEO at Bitsgap, said in a statement, “As cryptocurrency trading becomes more accessible, the need for advanced analytical tools is growing too. But the market lacks sophisticated solutions to leverage on-chain transaction data for better decision-making. The combination of Bitsgap’s set of full-suite features with PARSIQ’s ability to monitor and react to blockchain transactions before they have been committed to the next block [aims to] address this problem.”

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