Coin market cap is a website that is often referred to within the world for crypto. The purpose of coin market cap is to make crypto globally findable and efficient for private individuals (retail users) and to provide this target group with unbiased, high-quality and accurate information. The retail users can use this information to draw their own conclusions and make their decisions about how to deal with crypto.
The platform was founded in May 2013 by Brandon Chez. Coin market cap has quickly become one of the most reliable sources for comparing thousands of cryptos. Coin market cap is now often quoted by various major media and news channels worldwide. Even governments use the data for research and reporting.
Binance Capital Mgmt. acquired coin market cap in April 2020. Binance is the company behind the world’s largest digital exchange due to a high trading volume and many users. Binance shares the common vision of making crypto accessible and systemically important to people around the world.
Binance’s acquisition enriches its vision to acquire more in-depth data in projects, reduce information asymmetry in the crypto industry, and provide higher quality data to the hundreds of millions of users.
The platform stands for accurate, timely and unbiased information. After Binance’s acquisition the company continues to operate independently.
The goal is to reach hundreds of millions of users per year through its price tracking website, mobile app, newsletter, blog, social media (Twitter, Telegram, Facebook, Instagram) and annual conference.
Binance Capital Mgm’s acquisition in April 2020 has not affected the ownership relationship between CoinMarketCap and Binance.com.
Binance is the global blockchain company behind the world’s largest largest digital exchange due to the trading volume and users.
After the acquisition by Binance, coin market cap will continue to exist as an independent corporate entity and remain committed to providing the most accurate, timely and high quality cryptocurrency data.
Coin market cap’s official ranking criteria are designed to generally exclude any possibility of preferential treatment.
The platform will continue to independently present the most accurate data on crypto to the general public, that is their goal.
The coin market cap website shows thousands of cryptocurrencies available in tens of thousands of markets.
A market refers to a trading pair on an exchange such as, for example, Binance. An example of a trading pair is BTC / USDT, BTC / ETH, etc. This means that you can exchange BTC (Bitcoin) on the exchange of Binance for USDT (Tether) or ETH (Etherreum)
You will also see “Market Cap / 24h Vol / BTC Dominance.” This indicates the total market value of all cryptocurrencies combined. 24h volume indicates what is traded in total and with BTC dominance you can see how large the share of Bitcoin is in the total market cap.
Above the list of cryptocurrencies are a few more headings, including “tools” and “trending”. These two are very handy to use! In trending you will find the biggest risers & fallers and which coins were added last.
Do not be tempted by the big rises, always keep an eye on the volume (24h). You will see that some coins are just new and only 1 Bitcoin has been traded, but the currency has risen 500% as a result. This is therefore far from a realistic picture of what the crypto currency is and does.
While coin market cap is still seen as the main indicator of relevance, the platform is also criticized, because crypto’s marketcap more or less reflects the long-term popularity of this crypto.
High market cap crypto is generally considered a safe investment. These are companies with a market cap of more than $ 10 billion. Investing in large market capitalization coins is usually a conservative strategy. These coins are probably more stable than other crypto, so your investment does not immediately evaporate.
As always with crypto, it is wise to do thorough research yourself before investing. Keep also an eye on all the vital factors that play a role. For example, coin market cap as a metric does not say much about the actual trading volumes of the last few hours. Therefore, it makes sense to also check the coin market cap for the 24-hour trading volume that a crypto has on different exchanges over a reasonable period of time and other essential criteria before investing.
Coincompare and coin market cap have the similarity that we want to be independent and provide transparent information about crypto. Coincompare aims to compare as many crypto coins & tokens from providers as possible in a simple and real time way.