What Is Coinmarketcap And How Does It Work?
Coinmarketcap.com (CMC) is a website that provides data and statistics on the cryptocurrency market.
CoinMarketCap website: https://coinmarketcap.com/
It tracks the trading volume, price, market capitalization, and other relevant information for thousands of cryptocurrencies, including Bitcoin and Ethereum. The website also tracks the performance of exchanges, including trading volume, and it’s one of the most widely used resource for tracking crypto market data.
This website is among the most crucial platforms in the cryptocurrency space, providing you with current and relevant information about all the happenings in this rapidly evolving industry.
CMC began in 2013 and quickly gained popularity as a trusted source for accurate and up-to-date information on the crypto market.
The site is known for providing data in a user-friendly format, making it accessible to a wide range of users, including both experienced traders and newcomers to the market.
Users can find on CMC information such as:
- Price data and charts for each cryptocurrency
- Market capitalization and trading volume data
- Historical data on price and volume movements
- Data on the exchanges that list each cryptocurrency
- Information about each coin, including its technology, team, and upcoming events
Discover the advantages CoinMarketCap offers and eliminate any doubts about the platform’s capabilities.
Here are three reasons why it’s a valuable resource for cryptocurrency enthusiasts:
- High-Quality Information While information on cryptocurrencies can be found on various platforms, CoinMarketCap stands out for its quality data. Their team of experts conducts thorough research and evaluates all aspects that impact the market, ensuring that you receive accurate and up-to-date information.
- Credible Sources CoinMarketCap uses reputable sources to gather information, allowing them to cross-check and verify the data they receive. By adhering to principles of journalism, they maintain the highest level of transparency and accountability to their users.
- Wide Range of Options CoinMarketCap offers an easy-to-use interface with multiple features to cater to all your cryptocurrency needs. Whether you’re interested in tracking the latest movements of a specific coin or analyzing historical quotes, CoinMarketCap has got you covered. The platform offers a wealth of information to help you invest in your chosen cryptocurrency with confidence.
How often is the data on CoinMarketCap updated?
CoinMarketCap updates its data every five minutes. The data is sourced from over 200 exchanges and is updated in real-time. CoinMarketCap also offers a historical snapshot of the data, which is updated every day at midnight UTC. This data includes the opening and closing prices, 24-hour volume, and market capitalization for each cryptocurrency.
How do I search for a specific cryptocurrency on CoinMarketCap?
If you’re looking to search for a specific cryptocurrency on CoinMarketCap, you can do so by using the search bar located at the top right of the page. Simply type in the name of the cryptocurrency you’re looking for and a list of results will appear. You can also use the filters located on the left side of the page to narrow down the search results. For example, you can filter by market cap, price, volume, and more. Once you find the cryptocurrency you’re looking for, you can click on it to view more detailed information.
Is CoinMarketCap safe?
Coinmarketcap (CMC) is generally considered to be a safe and reliable source of information on the cryptocurrency market. The website provides real-time and historical data on the prices, trading volume, and market capitalization of thousands of cryptocurrencies, including Bitcoin and Ethereum. This data is collected from various sources such as cryptocurrency exchanges, making it a widely used reference for tracking crypto market data.
CMC has been in operation since 2013, and it has a reputation for providing accurate and up-to-date information on the crypto market.
The website uses various methodologies to try to ensure the accuracy of data as much as possible, and it also allows users to report any inaccuracies.
CMC itself doesn’t hold any user funds or user personal information, but it’s important to remember that it’s only a tool to track data and provide information. The safety and reliability of the exchanges or platforms is something separate, and should be evaluated separately, hence it’s recommended to always do your own research before making any investment decisions.
It’s also important to be cautious when using third-party websites, as they may not always be fully accurate or up to date. CMC is a great tool, but is just one of many resources you can use to research a cryptocurrency and make informed decisions.
Who owns CoinMarketCap?
Coinmarketcap (CMC) is a privately owned company, and the specific details of its ownership structure are not publicly disclosed. The website was founded in 2013 by Brandon Chez, who was the CEO and owner of the company until November 2018, now the company is under the ownership of Binance, one of the largest cryptocurrency exchanges in the world.
It’s not uncommon for cryptocurrency-related companies to keep details about their ownership and management structure private, given the decentralized and anonymous nature of the industry.
However, it’s known that CMC has been acquired by Binance in March 2020 and now it is under the umbrella of the Binance ecosystem.
Binance, through this acquisition, not only obtained a widely used reference tool but also added an important pillar to their ecosystem as Coinmarketcap also makes its revenue through a paid professional service that provide additional features such as historical data, and a more detailed look on the trading volume, among others.
Final Thought
Since its launch in 2013, CoinMarketCap has become a well-known and widely cited crypto data aggregator, and is also one of the oldest and most established cryptocurrency reference sites. Over the years, it has grown into a multi-million dollar business.
CoinMarketCap is a trustworthy platform that provides reliable and up-to-date coin listings, market capitalizations, and price histories for most cryptocurrencies, stablecoins, and even initial coin offerings (ICOs). It tracks cryptocurrencies across hundreds of exchanges, providing real-time data for investors and traders to make informed decisions.
