If you are one of the old digital currency investors, you must be familiar with the CoinMarketCap site. You can find information on any digital currency or exchange on this website. For those new to the world of digital currency, you may search for the price of Bitcoin on Google and still end up on the main page of the Coin Market Cap website.
In any case, for both experienced traders of digital currencies and newcomers to the world of digital currency, we are going to review the CoinMarketCap website in this article.
What is CoinMarketCap?
CoinMarketCap (CMC) stands for Cryptocurrency Market Capitalizations, which means investing in the digital currency market. CoinMarketCap is a website that provides statistical information and price and value tracking of all coins in the market. About 1981 coins and tokens are currently listed on this website.
The CoinMarketCap.com page was born in 2013 when only seven coins and a few exchanges were listed, and the total market capitalization was only about $1.6 billion. Therefore, it can be said that CoinMarketCap is the pioneer and the most reliable digital currency market information monitoring site to date.
CoinMarketCap original content
The first page of this website shows the top 100 digital currencies with the highest market value. Some of the essential information you need to know is as follows:
Market value: Total coin/token market value, the value of a coin or token, is calculated by the total number of coins in circulation and the current value of that coin.
Price: The current price of the coin on this website is different from other virtual exchanges, and almost every exchange will have a different price; CoinMarketCap aggregates the price of many exchanges to have a standard price.
24-hour volume: the volume of the desired coin transactions in the last 24 hours of the coin.
Circulating Supply: The total number of coins circulating in the market. When you look at this section, you will notice a * symbol next to the number of coins; if any coin has a * symbol, it means that the coin cannot be mined like Bitcoin and Ethereum, and a special development team has published it.
Price changes in 24 hours: rate increase or decrease in percentage in the last 24 hours.
Last 7 Days Price Chart: This shows each coin’s previous seven days’ price chart.
CoinMarketCap home page
The essential thing you can do on CoinMarketCap is to check the cryptocurrency rankings on the main page. Even for those new to the space, you can probably find something here that sounds familiar.
By looking at any cryptocurrency on the home page, you can see several pieces of data about that asset. That is the digital currency’s market value in question, the price, changes in the last 24 hours and seven days, and the volume and supply in circulation. This page also provides a small visual chart so you can see the path of a particular cryptocurrency over the past week.
You can scroll down infinitely on the CoinMarketCap home page to see all the cryptocurrencies that CoinMarketCap ranks. Also, they are constantly adding more!
Cryptocurrency detail pages
To learn more about each coin, click on it to find the coin details page. One of the most critical pieces of information on the CMC detail pages is the “Market Pair” tab. Each market pair has its confidence indicator that helps you choose an exchange to trade your cryptocurrency. This score reflects the liquidity of exchange; the higher the liquidity, the easier it is to trade digital currencies!
Each coin’s page also has its chain analysis hosted by IntoTheBlock and a ranking by Simetri provided by Crypto Briefing on this page.
Digital currencies, derivatives of digital currencies, DeFi, storage
There are many more ways to get information about different cryptocurrencies than on the main page.
CMC can only look at cryptocurrencies from a specific category and has the most popular at the top: Cryptocurrency Derivatives, DeFi and Storage. You can use the filters tab on the right if you want to search for something more specific while on the home page.
Along with the ranking of digital currencies, the Coin Market Cap site has also ranked digital currency exchanges. These are divided into cash exchanges, derivative exchanges, and decentralized exchanges.
One of the unique features that the CoinMarketCap site is the historical data related to each exchange or coin. You can use historical data for backtesting trading strategies or observing historical trends.
Historical data is usually difficult to find; some people pay hundreds or thousands of dollars to obtain accurate historical data.
Fortunately, CoinMarketCap has an excellent solution for viewing historical data. In the historical data section of the website, you can see the prices, volume, and daily market value of a given coin since it started operating in the market. Their historical data view is an excellent alternative to the graphical view.
To access historical data for any coin, you need to go to that coin’s dashboard and select the “Historical Data” tab on the right.
Historical statistics and charts
This feature of the CoinMarketCap website is exciting. This feature gives you an overview of how the digital currency market looked at a specific date in the past. You can select, for example, September 18, 2016, and see what coins’ prices and market capitalizations were at that time.
Go to “Tools” on the top navigation bar to access historical statistics and charts. This feature has been available since April 28, 2013.
You need historical data if you are one of those traders who like to backtest trading strategies. You can also put the market data in an excel sheet to compare and update your information.
To do this, CoinMarketCap provides an excellent API. There is also substantial documentation that explains how to use the CoinMarketCap API so that you can easily take advantage of it. All these facilities are provided to you completely free of charge.
The API is one of the most complex tools available on CoinMarketCap and can be very useful. To get to the API page yourself, scroll down the homepage and find the link in the footnote.
The CoinMarketCap website has a very informative and comprehensive blog. You can access it by clicking on “Blog” at the top of the home page.
The Coin Market Cap blog is divided into various sections, such as analysis, interviews, training, product announcements, and more, with up-to-date and valuable information on each section.
CoinMarketCap has many tools and features. This website provides extensive tools for both professional and novice traders. Among other means of this website, we can mention a very extensive glossary, staking pools, and more.
CoinMarketCap is a website that provides statistical information and price and value tracking of all coins in the market. Also, information related to different exchanges is listed on this website.
The CoinMarketCap.com page was born in 2013 when only seven coins and a few exchanges were listed, and the total market capitalization was only about $1.6 billion. Therefore, it can be said that CoinMarketCap is the pioneer and the most reliable monitoring site for digital currency market information to date, and it performs exceptionally well among related websites.
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