What is Coinmarketcap? How to use CoinMarketCap effectively?

Coinmarketcap is a site that is all too familiar in crypto market. This is considered the most reputable news site today. So what is CoinMarketCap? How to use CoinMarketCap effectively? Let's find out with Market247.io in this article.

What is Coinmarketcap?

Surely many new entrants to the market will wonder what is CoinMarketCap that many people often talk about. This is a website specializing in providing and continuously updating information about the cryptocurrency market such as: Exchange rate, capitalization, trading volume, coins / tokens, related information about the project... of all coins on the market today. It can be said that Coinmarketcap is considered one of the fastest and most reputable information sites today.

CoinMarketCap page was born in 2013 when there were only 7 coins and some major exchanges listed and the total market capitalization only fluctuated around 1.6 billion USD. Up to now, from 7 coins/tokens, this number has been more than 2000 showing that the development speed of this website as well as the crypto market is gradually growing and more vibrant than ever.

Not only providing news, CoinMarketCap is also very interested in user experience when continuously developing many new useful features such as courtesy, watchlist, portfolio, CoinMarketCap earn…

How to sign up for a Coinmarketcap account?

After find out what is CoinMarketCap, Market247 will guide you on how to sign up for an account.

CoinMarketCap provides two options for users, needing an account and without an account. If you only need to see prices and basic information, you do not need to register. However, to use the advanced and more convenient features, you will need a CoinMarketCap account. The steps to register an account are as follows:

Step 1: Visit coinmarketcap.com, select Sign Up in the right corner of the screen. Step 2: You just need to enter Email and Password to create an account then click Create an account.

Then an email will be sent to you to activate your account, you just need to access the email you registered and activate your account.

The three most important information you need to know

To understand what is CoinMarketCap as well as to use Coinmarketcap most effectively when participating in the market, there are 3 indicators you need to observe and understand, including:

Total Market Cap
Volume 24h
BTC Dominance

Total Market Cap

Total Market Cap is the total capitalization of the crypto market. This indicator tells traders the current size of the entire market.

How to calculate the capitalization of a coin/token: Market capitalization = Current price x Total coins/token in circulation.

The capitalization of a coin plays an important role because it shows the total amount of money invested in a coin at any given time. This is one of the factors investors always consider when deciding whether to invest.

Volume 24h

24h Vol tells investors how much is the total trading volume of the entire market on a daily basis. In addition, you can also judge whether a coin's liquidity is high or low through its trading volume. If the volume of a coin is high, it means it has high liquidity and vice versa.

BTC Dominance

BTC Dominance is the percentage of capitalization that BTC is occupying of the total capitalization of the entire market. BTC.D shows the advantage of the ability of the Bitcoin currency to affect the whole market, and also has many meanings in terms of capital movement:

If BTC.D is increasing, it means that the money flow from Altcoins is being reduced because they are attracted to BTC, now Altcoin investors need to have more careful strategies because it is likely that the price of Altcoins will decrease.
Conversely, if this number decreases, it is possible that the price of Altcoins will increase very strongly.

How to read detailed information about coin/token

Let's explore how to use CoinMarketCap, specifically how to view detailed information about a coin.

Coin Basics

Coin name and ticker
Ranking based on market capitalization
The number of watchlists the coin is added to the viewer's watchlist

Price and volatility

Price displayed according to the most recent time
Volatility rate up or down as a percentage
Lowest/highest price for a custom certain period

General information

Project website
Explorer: A place to discover project information including nodes, transactions…
Community: User community like twitter, telegram, medium…
Source Code: See an overview of the coin's foundation code on the save pages
White paper

Right tab

Market Cap: Capitalization of the current Coin/Token.
Fully Diluted Market Cap: Fully Diluted Valuation, which means the total capitalization value when all Tokens are unlocked.
Volume 24h: Trading volume in 24 hours of that Coin/Token.
Circulating Supply: Total number of units of that Coin/Token being mined and circulated in the market.
Max Supply: The maximum total supply of that Coin/Token.

Analytical tools

Overview: Overview of the price chart.
Market: Exchanges that list that coin/token.
Historical data: Historical data.
Holders: Statistics of addresses owning Coin/Token and balance.
Wallets: Wallets that support storage.
News: Related news.
Socials: Statistics of social network activity.
Rating: Evaluation through a 3rd party on the basic factors.
Analysis: On-chain data analysis.
Price Estimate: Estimate the reference price.

Conclusion

Coinmarketcap is a powerful tool for all crypto market participants. Market247.io believes that through this article, you have given yourself a lot of useful information for the question of what is CoinMarketCap and how to use CoinmarketCap. If you have any questions, don't forget to comment below for specific answers. Don't forget to follow Market247 to update the latest news from the market.

FAQs about What is CoinMarketCap

How does CoinMarketCap make money?

CoinMarketCap makes money from its API registration fees, job listing fees, referral fees, as well as through advertising. Founded in 2013, CoinMarketCap has become the world's leading cryptocurrency price tracking platform. It was acquired by Binance in March 2020 for $400 million.

Is CoinMarketCap a wallet?

No, CoinMarketCap does not have a wallet. It is purely a price tracking platform for crypto assets.

About Market247

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What is Coinmarketcap? How to use CoinMarketCap effectively?