What is CoinMarketCap?
CoinMarketCap is a crypto website used daily by investors all over the world. It helps crypto holders and traders get a handle on crypto market trends and fluctuations at a glance. CoinMarketCap is highly regarded for its long history providing crypto market data since 2013, and it is considered one of the most accurate crypto market trackers around.
What Does CoinMarketCap Do?
Rather than allowing you to buy or sell crypto directly, CoinMarketCap is a fount of cryptocurrency information, such as a crypto’s current price and trading volume. As the name suggests, one key feature of CoinMarketCap is the accurate “market cap” (market capitalisation) data that it makes available for over 19,000 crypto assets.
Market capitalisation allows investors to gauge the current total value captured by a cryptocurrency network. For example, the market capitalisation of Bitcoin is the current price of one Bitcoin multiplied by the total number of Bitcoin in circulation.
On CoinMarketCap, each crypto is ranked based on market capitalisation to give a picture of the overall state of the crypto market and individual crypto performance. Cryptos can drop or gain in market rank on CoinMarketCap based on how capital flows in the cryptocurrency market.
Using CoinMarketCap to Make Better Investments
CoinMarketCap provides live data on the ‘tokenomics’ of each crypto project. This includes how much of a given cryptocurrency is in circulation, how it is minted or mined, whether it has a supply limit, and other key design features. Tokenomics can be a powerful tool for getting a rundown on a cryptocurrency’s design and appeal.
Learning about new projects is also made easy on CoinMarketCap. CoinMarketCap’s “Recently added” section allows you to explore new crypto projects. CoinMarketCap also provides a brief overview and history of popular cryptocurrencies. You can also check out which cryptos have recently made large gains or heavy losses in the “Gainers and Losers” section.
CoinMarketCap also gives chronological chart data for the market capitalisation and price of assets. This makes it easy to check how each crypto is performing on an hourly, daily, monthly or yearly basis, which is useful for investors interested in short-term or longer-term market trends. In addition, CoinMarketCap’s ‘TradingView’ can display candlestick chart data and other features that might be familiar to stock traders.
Going Mobile with CoinMarketCap
CoinMarketCap has grown over the years and is now available as a fully-fledged mobile app for Android and iOS devices. All of CoinMarketCap’s latest market information is available through the mobile app for checking the crypto market on the go. The app is built for ease of use and provides a superior experience for mobile users compared to the website with features such as instant price alerts. You can also pin your favourite cryptos to a custom watchlist, giving immediate access to market data for the coins and crypto projects that are most important to you.