CoinMarketCap Monopoly for crypto rating and prices monitoring

Should we unconditionally trust only the one website for crypto assets` tracking, that show real time price dynamics, market capitalization, trade volumes and coins.

Crypto monitoring and sudden risks. Since the appearance of Bitcoin in 2009 the crypto currency industry continued to develop to the extent that big banks such as JP Morgan Chase began supporting digital coins. Such tendency created possibilities for different sites to compare market capitalization, trading volume, coins and crypto assets showing prices in real time. Nevertheless, the field is not universal anymore because of GoinGecko and CoinCodex appearance and the launch of CoinCodexCap funded by themselves.

CoinMarketCap. The resource made its name as a leading crypto tracker of prices since the moment of its appearance in May 2013 by Brandon Chaise. Last month the resource was bought by Binance, one the biggest crypto stock exchange, for an unknown price. However, the gesture of centralization of famous services such as coin tracking was a surprise in crypto community that seems to be creating a space for other sites about cryptos like CoinCodex and CoinGecko.

Nevertheless, Caroline Chan, interim Director-General of CoinMarketCap, stated that site would work as a subject independent from Binance. Apart from enumeration of more than 5000 crypto currencies, website intends to strengthen the position presenting the platform for comparing credit products and borrowing in DeFi. The rating of 100 best crypto currencies is based on the common market capitalization. Every coin contains metrics such as price, edition and 7 days’ price schedule. In addition, 24 hours’ changes, trade volumes and indefinite swaps’ markets with derivatives are available.

CoinCodex is a website dedicated to crypto listing that provides real time full reviews and rates of 5000 coins. The platform offers metrics that enable users to compare coins in order to get detailed information.”

Using Coincodex you can collect data from 200 crypto stock exchanges at minimum. That allows you to build a portfolio based on your investments. The platform offers user-friendly interface and has a calendar of ICO that provides information about active, up-coming and completed sales of tokens in crypto space. There is a description of every coin there.

CoinGecko is one more authoritative site of crypto currency tracking, based on distinctive indicators. For instance, it has an indicator “Gecko” consisting of social sites assessment and developers. Social assessment shows activity of community on the platforms of social sites, such as Reddit, Twitter, Facebook, while an indicator of developer specifies an enterprise of crypto assets development. CoinGecko transfers more than 7000 coins and monitor different actions, such as big events and open source development.  It has an informative parameter because it shows a number of coins based on percentage or level of cost depending on such factors as social attractiveness, market capitalization and liquidity. If you are interested in crypto mining space CoinGecko is a useful resource, because it has a segment of mining calculator, allowing getting to know if mining some coins is profitable and how much time you need to get profit.

It doesn’t matter if you are a crypto investor, an enthusiast, a trader, a miner or you just want to track the price dynamics, CoinCodex, CoinGecko or CoinMarketCap are ideal resources because they offer unique information based on your tastes, needs and preferences. Moreover, you don’t have to rely on CoinMarketCap unconditionally regarding crypto currency prices’ tracking because CoinGecko and Coincodex are notable alternatives. Excessive usage of the only website can be dangerous. That was witnessed in 2018 after CoinMarketCap’s decision to conceal data from South Korean stock exchanges that caused price falling on crypto markets because of panic sales.

Money: from barter to digital - image
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Money: from barter to digital

Cryptocurrencies may seem like a natural step in the evolution of money, from metal coins to paper banknotes to digital ...