CoinGecko is an online service designed to inform interested users about the current rates of digital assets, but its functionality is not limited to this alone. Let's take a closer look at how this service works.
- What is CoinGecko
- Overview of CoinGecko Features
- Review of Platform Functionality
- Exchange Data
- DeFi and NFT Reviews
What is CoinGecko
CoinGecko is a cryptocurrency data aggregator, that provides information about cryptocurrencies, such as prices, market capitalization, trading volumes, historical data, and other statistical indicators. CoinGecko is created to help investors, traders, and cryptocurrency enthusiasts track and analyze the cryptocurrency market.
Currently, this resource is considered one of the largest information aggregators in the field of cryptocurrencies. It tracks data on more than 10,000 digital assets traded on 517 cryptocurrency exchanges.
History of CoinGecko Development
The CoinGecko service was founded in 2014 by two Malaysian entrepreneurs, Bobby Ong and TM Lee. They stated that their goal was to increase the level of understanding of the cryptocurrency market among its participants.
The creators of CoinGecko initially did not aim to simply track the market capitalization of assets. Their goal was to create more transparent methods of analyzing cryptocurrency performance. In 2019, Bobby Ong stated:
Since 2017, CoinGecko has been regularly publishing quarterly reports on the cryptocurrency market, which are available to all users. These reports analyze price movements and track the impact of various events on the market.
In the following year, CoinGecko launched its own API (Application Programming Interface), which can be integrated into other websites and applications. This tool provides access to various features, allowing developers to obtain and use information about cryptocurrencies in their products.
In May 2019, CoinGecko introduced the Trust Score rating system, which assesses trading pairs and cryptocurrency exchanges. This was done to combat dishonest exchanges and unreliable assets. That same year, the service's creators were included in the Forbes "30 Under 30" list, recognizing their contribution to the development of the cryptocurrency industry.
Overview of CoinGecko Features
As of October 2021, CoinGecko supports 21 languages. Additionally, users can view current rates of digital assets in 38 fiat currencies, including US dollar and euro.
On the main page of the service, users can find a list of leading cryptocurrencies by market capitalization, with information on prices and their changes over the last period.
When selecting a specific cryptocurrency from the list, the user is taken to a page with detailed information. Here, you can find price charts, analyze them for a selected time period, and learn about trading volumes and the latest news.
Besides, CoinGecko offers a variety of ways to obtain information about cryptocurrencies:
| Current Rate and Market Capitalization | The service provides information about current prices of digital assets and their overall market value. |
|---|---|
| Historical Data | You can find historical data on prices and market capitalizations of cryptocurrencies. |
| Capitalization Ranking | CoinGecko allows you to find out the position of an asset in the overall ranking of cryptocurrencies by their market capitalization. |
| Information on Trading Volumes and Exchanges | You can learn about which exchanges and in what volumes a particular asset is being traded. |
| Number of Coins in Circulation | CoinGecko provides information on the total number of coins in circulation for each cryptocurrency. |
| Latest News | The service also provides the latest news about cryptocurrencies from various sources. |
The "Markets" section provides data on prices and trading volumes at various exchanges, and the "Chart" allows you to create your own price chart. "Historical Data" and "News" provide the relevant information. Additionally, for Bitcoin, there is a "Halving Countdown" section, which counts down the time until the reduction in mining rewards mining.
Exchange Data
CoinGecko also provides information about cryptocurrency exchanges. This includes data on trading volumes and the popularity of specific assets on these exchanges.
In addition, the service issues a Trust Score rating for exchanges, which assesses factors such as liquidity, availability of information, and the level of security on the platform. This rating also takes into account the exchange's compliance with legislation and the presence of major incidents related to that exchange.
Studying information about exchanges plays an important role in making investment decisions in bitcoin and other cryptocurrencies. This is related to choosing a company you trust with your funds, so it's necessary to seriously approach the research on security issues.
DeFi and NFT Reviews
Also, on CoinGecko, there is an option to view statistics exclusively related to DeFi tokens. These tokens are included in the overall cryptocurrency ranking, but in the relevant tab, a user can assess characteristics and indicators that are unique to DeFi assets. This tab also provides information about decentralized cryptocurrency exchanges.
Finally, special attention is given to NFT tokens on the platform. On a special page, one can learn about the availability of NFT tokens in the market, their current prices, and market capitalization.
CoinGecko is a powerful tool for everyone interested in cryptocurrencies and wishing to access up-to-date data and analytical information about the cryptocurrency market. With the creation of this platform, the developers have made a significant contribution to the development of the cryptocurrency industry, providing quality data and tools for analysis. CoinGecko remains one of the most popular and reliable sources of information on cryptocurrencies.
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