CoinMarketCap is an information platform that providing extensive information and analytics on more than 11,000 cryptocurrencies. On this service, users can track key indicators such as market capitalization, current rate, circulating supply, trading volumes, and many other indicators that are updated every five minutes.
- The History of CoinMarketCap
- Cryptocurrency Ratings
- Exchange Ratings
- Additional Features of CoinMarketCap
The History of CoinMarketCap
Brandon Chez, the founder of CoinMarketCap, holds a bachelor's degree in computer science from the Rochester Institute of Technology. Before creating CoinMarketCap, he worked at Mediabistro, Lockheed Martin, and Rocketrip. In 2013, in collaboration with a group of programmers from New York, Chez launched CoinMarketCap as the market lacked tools for comparing cryptocurrency market capitalization and trading volumes. CoinMarketCap, displayed on a tablet screen, was designed to fill this gap.
In 2020, it was acquired by Binance Capital Mgmt, but CoinMarketCap continues to operate independently, asserting that Binance does not influence their rating algorithms and listing procedures.
Users have access to tools such as portfolio tracking, CoinMarketCap Swap, and a currency converter.
The calculation of market capitalization on CoinMarketCap is based on the circulating supply of coins, which reflects the number of coins in circulation, not considering locked and reserved coins. This approach differs from the method used by CoinGecko, which can lead to differences in cryptocurrency ratings on these platforms. For this reason, it is recommended to use both services for comprehensive analysis of cryptocurrencies.
CoinMarketCap is available in multiple languages and allows users to view asset prices, market capitalizations, and trading volumes in fiat currencies and cryptocurrencies. Language and currency settings can be changed in the top right corner of the website.
Information about 5,729 cryptocurrencies is available on the "Ratings" tab. Users can sort them according to various criteria, including current price, price change over the last 24 hours and week, market capitalization, as well as trading volume for the last 24 hours. Additionally, the page provides information on the circulating supply of each cryptocurrency and the maximum volume of its issuance in the case of limited emission.
On the main page of CoinMarketCap in the "Cryptocurrencies" section, the following categories are presented:
|A list of cryptocurrencies, sorted by price, trading volume, and market capitalization.
|Cryptocurrencies added to CoinMarketCap in the last 30 days.
|Legal Tender Countries
|A list of countries where cryptocurrencies are legalized or planned to be legalized.
|Charts of total market capitalization, excluding Bitcoin, and the share of major cryptocurrencies in total capitalization.
|Valuation of fiat currencies in satoshis and the stock value of leading companies.
|Collections of cryptocurrencies in categories, for example, "Trending" and "Most Increased in Price".
|The leaders of growth and decline
|The leaders of growth and decline in cryptocurrencies over the last 24 hours.
|Information about the past value of cryptocurrencies, for example, the price of ETH on a specific date.
To learn more about a specific cryptocurrency, simply click on its name. You will be redirected to a page where various information is presented, including an overview, prices on different cryptocurrency exchanges, a list of suitable wallets for storage, and more.
In addition to the general list of cryptocurrencies, it is possible to explore ratings categorized by specific areas. This includes cryptocurrencies in the field of decentralized finance (DeFi), as well as ratings based on specific blockchain networks such as Polkadot, BNB Smart Chain (formerly Binance Smart Chain), Solana, and Heco. A list of platforms for yield farming is also presented.
Until 2020, there was a problem in the cryptocurrency industry with exchanges artificially inflating their trading volumes. This was aimed at creating a false impression of legality and liquidity in the markets. As a result, this led to a loss of trust among users in the cryptocurrency sector and misinformation of traders and investors.
In the "Exchanges" section, the following categories are presented:
- Spot: A rating of exchanges for spot trading.
- Derivatives: A list of exchanges where trading of futures and other derivative financial instruments takes place.
- DEX: A rating of decentralized cryptocurrency exchanges.
On CoinMarketCap, different sorting criteria are provided for each type of market. For spot markets, for example, the following sorting parameters are available: platform rating, trading volume for the last 24 hours, liquidity coefficient, the number of unique visitors, the availability of various trading markets, the number of new coin, and supported fiat currencies.
On CoinMarketCap, decentralized exchanges (DEX) are classified depending on factors such as trading volume for the last 24 hours, market share, the availability of various trading markets, the type of trading platform, and the date of the exchange's opening. Additionally, in the "Lending" section, information is presented about platforms offering cryptocurrency lending services. CoinMarketCap includes data on lending conditions at DEX exchanges such as Venus, Compound, and Aave.
Additional Features of CoinMarketCap
Users registered on CoinMarketCap have the opportunity to monitor their cryptocurrency portfolio. This feature is available for free and can be used through CoinMarketCap applications for iOS and Android.
After registering on the platform, users also have the opportunity to add their preferred cryptocurrencies to their "Watchlist".
On CoinMarketCap in the "Calendars" section, calendars are available, including information about upcoming airdrops, ICO, launches of Polkadot parachains, and other significant events in the world of cryptocurrencies.
Among other products of CoinMarketCap, the Swap feature allows for the exchange of cryptocurrencies on the Ethereum network through the decentralized exchange Uniswap, for which a cryptocurrency wallet must be connected, such as Metamask, WalletConnect, Coinbase Wallet, Formatic, or Portis.
In addition, CoinMarketCap offers a converter for calculating the value of cryptocurrencies in fiat currencies, mobile applications for iOS and Android, and data on cryptocurrency interest rates on different platforms.
CoinMarketCap is one of the leading aggregators of cryptocurrency data, offering a convenient service for free monitoring and analysis of various cryptocurrencies. This tool can be invaluable for both crypto investors and traders.