How to Collect Historical Market Data using Shrimpy API

Handy Tips / 22.10.2020

In the financial markets, including forex, stocks, and cryptocurrency markets, historical data collection is crucial to determine market direction. Data collection in such markets involves analyzing data graphs to assess market trends and analyzing tools to determine market direction. Collecting historical market data also involves data mining to discover data patterns from already available data. 

Any crypto trader must collect historic market data from formulating an effective trading strategy and enhancing profits. To streamline data collection, Shrimpy offers an API to enable crypto traders to collect historical market data by accessing a complete order book and live market data for timely decision making. The API allows traders to collect real-time market data across every significant exchange with a single API endpoint. Here’s an in-depth look at the Shrimpy universal crypto exchange API for crypto trading, real-time data collection, and exchange account management. 

What’s an API?

An application programming interface (API) refers to a software intermediary that allows two applications to communicate. For instance, if you’re using an app like Facebook on your mobile phone, the application connects to the internet and sends data to a server. The server then retrieves the data, interprets it, performs the necessary action, and sends it back to your phone. The application then analyzes the data and sends you the information in a readable way. API has become exceptionally valuable in the crypto space enabling interoperability by linking different blockchain platforms such as exchanges and wallets. Additionally, crypto APIs such as market data APIs and trading APIs allow blockchain developers to seamlessly deploy their applications, i.e., trading bot, payment applications, business settlement solutions, etc. 

About the Shrimpy Universal Crypto Exchange API

Shrimpy Universal Crypto Exchange API is the industry-leading API for crypto trading, real-time collection, and exchange account management. The API has a wide range of uses, including trading, management, data, and infrastructure. 

Trading

  • Low-Latency Order Execution 

Shrimpy Universal Crypto Exchange API allows traders to execute trades across thousands of markets on every major exchange by taking advantage of the Shrimpy low latency execution endpoint for crypto trading. The platform offers practical trading solutions for blockchain developers developing crypto trading products such as algorithmic trading bots. 

  • Portfolio Management 

Shrimpy API offers top-of-the-class portfolio management solutions involving automatic portfolio allocation and rebalancing. The API automates trading routine and trade execution. The API provides practical trading and matching infrastructure solutions to develop outstanding crypto trading products that can compete with algorithmic trading bots

Management

  • User Management

Shrimpy’s Universal Crypto Trading API provides a solution for platforms to manage their users efficiently. The platform is a complete user management solution that enables users to directly communicate with Shrimpy to access their accounts, execute trades, and collect data. The product allows platforms to focus on core product offerings. 

  • Secure Exchange Management

Shrimpy Exchange API enhances the security and privacy of users’ exchange API keys. The API eliminates developers’ need to maintain their complex security architecture for managing user API keys. Shrimpy facilitates API key management by leveraging a robust security infrastructure. 

Data

  • Real-Time Data Collection 

Shrimpy’s Universal Crypto Trading API facilitates real-time data collection by allowing complete order book and live market data. Users can collect real-time market data across every significant exchange with a single API endpoint, enabling timely trading decision making

  • Data Analytics 

Shrimpy’s Universal Crypto Trading API encompasses a unique backtesting feature that enables users to analyze various time-based rebalancing strategies. The API leverages precise exchange data to evaluate portfolio strategies accurately. Shrimpy’s backtests involve the collection of full-price and order book data from individual exchanges. This factor ensures that only accurate and precise results are attained.     

Infrastructure

  • Scalability Solution 

Scalability has been a significant challenge in blockchain applications. Shrimpy API offers scalability solutions to blockchain platforms by providing real-time infrastructure and networking required for trading applications. 

  • Exchange Management 

Shrimpy provides an intelligent exchange management solution that mitigates the risk of costly downtime. The exchange management automatically lists assets, manages failures, and prevents the occurrence of ambiguous exchange endpoints. 

How to Use Shrimpy API to Collect Data

As mentioned earlier, it’s possible to collect from exchanges using Shrimpy API. To do this, you’ll use the endpoint in the Shrimpy Developer APIs. You will be presented with a list of assets the user owns, the balance of those assets, and the latest USD and BTC value for those assets. 

In addition to getting the current balances for each asset, users can retrieve the historical balance records. However, the balance history begins when you link Shrimpy API to your account and continue collecting data about an exchange account as long as they’re connected to Shrimpy.   

Collecting Balance Data

Shrimpy updates balance data every time trade or operation is made. The API updates changes, exchanges, rebalances, etc. every 15 minutes if your account hasn’t made the necessary changes. It means that: if you carry out an external deposit or withdrawal that was not executed through Shrimpy, it may take up to 15 minutes for the API to detect the changes. Therefore, Shrimpy API users are discouraged from conducting transactions outside the Shrimpy developers API to minimize the frequency of balance changing events that are not executed via the API.     

Closing Word

For any avid crypto trader, analyzing past historical market data is crucial. The Shrimpy universal crypto exchange is an industry-leading API for crypto trading, real-time data collection, and exchange account management. The API allows users to access complete order book and real-time market data across every major exchange with a single API endpoint. The API also constitutes a backtesting feature that lets users analyze various time-based rebalancing strategies. Stay updated with market trends using Shrimpy’s Universal Crypto Trading API to collect historical data.     

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Wayne is a Blockchain enthusiast and expert in crypto trading. Currently, he covers trendy issues on digital currencies.