Coin Market cap

CoinMarketCap With crypto moving at a lightning pace and market dynamics not remaining constant, having accurate and timely information within reach is a must. Tracking cryptocurrency prices came into the world of CRM with the birth of CoinMarketCap in 2013. This blog studies how CoinMarketCap grew from a one-man project to an authority on crypto data, the challenges faced, and the innovative tools developed and offered. At first, CoinMarketCap was founded in 2013 by the programmer Brandon Chase, who saw an enormous opportunity in the crypto industry. Back then, when digital currencies were coming to light, information was poorly spread all over blogs and forums. Investors and enthusiasts of the coins had a hard time gathering data to perceive market trends as a unified whole. Chase decided to build a centralized platform where hundreds of exchanges could feed data into and afterwards display it in an understandable way. While staying in Long Island City, Queens, Brandon constructed a website that not only tracked the rankings of several cryptocurrencies but also provided real-time updates on their trading volume, price, and circulating supply. He sought to provide an unobstructed, all-encompassing truth that would allow the users to make informative decisions in such a new and fast-paced market. This promise of maintaining accuracy grabbed the attention of crypto adopters almost immediately. Earlier on, CoinMarketCap was the go-to source due to the platform’s clear presentation, which set it apart as a reliable resource for investors, traders, and even journalists. With transparency being the primary focus, users were able to easily obtain data, helping CMC redefine its identity—laying the groundwork for its position as a primary crypto data provider in the market.  As the crypto market hit new peaks, the requirements of the users started to shift as well. CoinMarketCap’s evolution from a basic price monitor to an advanced multifunctional app exemplifies the progress made in sophistication by the audience. Extension of the Feature Set Launch of the Public API (2016): Developers, analysts, and organisations can now incorporate real-time cryptocurrency market data into their applications thanks to CoinMarketCap's public API, which was released in May 2016. This action broadened the platform's user base and solidified CMC's position as an essential piece of infrastructure in the ecosystem of digital assets. Mobile App: In 2018, CoinMarketCap released its first iOS app and then an Android version after realising how important it was for investors to have access to market data while they were on the go. These mobile apps give users immediate access to news, charts, and real-time updates, ensuring that crucial information is always available. By adjusting to various viewing preferences and lighting conditions, the dark mode further improves the user experience. Watchlist and Portfolio Tracker: CoinMarketCap's Portfolio Tracker has become a vital tool for active investors, allowing them to record and aggregate their transactions, whether they involve the purchase, sale, or transfer of digital assets, and track their performance in real time. The Watchlist feature complements the Portfolio Tracker by allowing users to "star" their favourite cryptocurrencies and obtain a personalised dashboard for easy monitoring without having to sift through lengthy lists. This feature offers detailed insights like asset allocation, profit and loss percentages, and historical trends, assisting users in making better rebalancing decisions. Educational Resources: To demystify the often complex world of cryptocurrency, CoinMarketCap has launched educational initiatives such as CMC Alexandria—a comprehensive crypto encyclopaedia that covers topics from basic blockchain principles to advanced trading strategies. Additionally, the CoinMarketRecap podcast provides weekly market insights and expert interviews, ensuring users stay informed about the latest developments in the crypto space. ### Scaling to meet global demand CoinMarketCap has reached new heights as a result of the growing public interest in digital currencies. With millions of monthly users, the platform was among the most popular websites in the cryptocurrency industry by 2018. This expansion necessitated ongoing advancements in methodology and data aggregation. In a sector known for phone trading volumes and uneven reporting requirements, ensuring data quality was a major challenge. A liquidity metric was introduced by CoinMarketCap in November 2019 with the express purpose of preventing artificially inflated trading volumes. The data's dependability is only increased by this improvement.

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