CoinMarketCap (CMC) is a price-tracking cryptocurrency website and crypto data provider.
CoinMarketCapCoinMarketCap is a cryptocurrency price tracking website that has become a trusted source of price information for institutions and media since its founding in 2013. Over time, it has evolved into a comprehensive, free, one-stop aggregator for crypto price tracking, on-chain data, news, and educational content, making it particularly suitable for beginners. In 2020, CoinMarketCap was acquired by Binance, the world’s largest cryptocurrency exchange, and now offers a mobile app for quick access to market data.
Brandon Chez, the founder of CoinMarketCap, created the platform to address the information asymmetry in the cryptocurrency industry. He aimed to provide transparency on whether centralized exchanges were inflating trading volumes to attract users and to help investors compare crypto prices across different exchanges.
Since blockchain is still in its early stages of development, some fraudulent groups exploit public unfamiliarity and the desire for quick wealth by creating fake exchanges under the guise of blockchain and cryptocurrency. CoinMarketCap helps users identify such fraudulent platforms.
With hundreds of cryptocurrency exchanges worldwide, users often seek platforms with high liquidity and security. CoinMarketCap offers an exchange ranking feature under the “Exchanges” tab, allowing users to view rankings for spot, derivatives, and decentralized exchanges.
Given the vast number of cryptocurrencies, beginners may wonder where to start. The “Cryptocurrencies” section on CoinMarketCap’s homepage lists crypto rankings based on market capitalization, providing an excellent starting point.
For those interested in NFTs but unsure where to begin, CoinMarketCap provides an “NFT Stats” section under the “Cryptocurrencies” dropdown menu. This feature ranks NFT projects based on trading volume over the past 24 hours.
The “Highlights” section under “Cryptocurrencies” provides a daily overview of trending tokens, top gainers, and market movements, helping users quickly grasp market trends.
Crypto investors often distribute assets across multiple exchanges, making it difficult to track portfolio performance. CoinMarketCap’s “Portfolio” feature allows users to monitor and review their investments through visualized data and charts.
The cryptocurrency industry evolves rapidly, and staying updated on major events is crucial. The “Event Calendar” on CoinMarketCap helps users track key developments such as conferences, project upgrades, and token burns by selecting specific dates.
For those looking to invest in crypto projects at an early stage and maximize gains from price appreciation, CoinMarketCap offers an “ICO Calendar” under the “Products” menu. ICO (Initial Coin Offering) is a high-risk, high-reward investment method where projects sell their tokens to the public for the first time.
CoinMarketCap is a highly credible data platform that serves as an essential tool for crypto beginners. It helps users identify scams, learn about cryptocurrencies, and analyze market trends. By utilizing its search function, users can filter out high-risk exchanges, while the ranking features provide insights into different cryptocurrencies.
