The Korean startup Data Republic offered a crypto market trend prediction tool that uses data analysis technology. Data Republic has been a pioneer in smart ways of investing in cryptocurrencies.
It was founded back in 2018, and today it’s known for artificial intelligence-based financial tools. The man behind the company is Sungmin Aum, a DeFi expert.
Data Republic and Its Predictions
At the moment, Data Republic provides AI investment solutions to six hedge fund managers in Europe, the US, Singapore, and Hong Kong. These solutions predict the cryptocurrency markets and help investors manage the risks.
According to Data Republic, it can predict the prices of assets such as cryptocurrencies and non-fungible tokens from 30 minutes up to a week with an accuracy rate of about 50% to 60%.
This tool collects crypto-related information from the market—prices, transaction volume, order books, and similar, and combines them with AI. Then, artificial intelligence creates a predictive algorithm in real-time that shows how the markets will behave.
The startup is placing focus on quantifying the value of data and sifting only important information for market predictions.
Data Republic is also expanding its services to DeFi exchanges and NFT platforms. So far, the startup has collected $1.7 million in investments. Its profit model is revenue sharing by investing in hedge funds managers’ crypto funds.