Coinmarketcap a platform, which is created to track the capitalization of various cryptocurrencies, the number of trades that use them and the current price converted into fiat currencies. The information updates every five minutes.
Cryptocurrency market capitalization means double the total of all issued coins derived from mining by the current cryptocurrency market price. Market capitalization defines the popularity of certain cryptocurrency’s price, is the main economic indicator.
CoinmarketCap’s services provide all digital currencies information that is traded in at least one public exchange and with a non-zero trading volume. The CoinmarketCap app can also function as a kind of rating system that will be showing a list of cryptocurrencies sorted in descending order by their capitalization amount.
A complete analysis of CoinmarketCap platform
CoinmarketCap has around 2000 cryptocurrencies listed on its website. Where you can get know the market cap, price, current value, and others.
CoinmarketCap also has an option where you can get information about the gainer & losers from investors lists till now and the recently added investor’s list is also available there.
CoinmarketCap uses different Ranking options like the Market cap, exchanges, Cryptocurrencies.
CoinmarketCap’s provide different tools, the list below
1. Global chart
2. Historical Snapshots
3. Currency Converter Calculator
4. Crypto Glossary
6. Website Widgets
CoinmarketCap provides different services for cryptocurrency investors, listed below
2. Event Calendar
4. Professional API
5. Buy Cryptocurrency
As you can see that CoinmarketCap provide various data, several listed coins, such as their price, available supply, trade volume over last 24 hours or market capitalization.
- The statistics of Coinmarketcap are updated every 5 minutes. Market capitalization is calculated by multiplied price list by total supply. These prices are calculated by averaging the prices at the major exchanges weighted by volume.
- Coinmarketcap is a type of platform where coins with stale data points (more than 6 hours old) are shown at the bottom of the list with question marks and are de-listed after 7 days.
Addition of New Coins
For a coin to be added it must meet the following criteria
1. It should be a cryptocurrency
2. It should be traded on a public exchange that is older than 30 days and with an API available.
3. It should have a Public URL that displays the total supply (total coins mined so far)