Crypto Academy / Season 3 / Week 2 - Homework Post for Professor [@stream4u] : Crypto Prices & Market Source - COINMARKETCAP.COM

This is my homework post for Steemit Crypto Academy Season 3 Week 2 for Professor @stream4u’s lesson Crypto Prices & Market Source - COINMARKETCAP.COM.

(1) What Is coinmarketcap.com?

^{CoinMarketCap logo as seen on https://coinmarketcap.com/ .}

coinmarketcap.com is a website for a company called CoinMarketCap that provides fairly comprehensive information on cryptocurrencies. CoinMarketCap was founded in May 2013. In it's description on the About CoinMarketCap section of the page, they mention that its mission is: "to make crypto discoverable and efficient globally by empowering retail users with unbiased, high quality and accurate information for drawing their own informed conclusions."

^{coinmarketcap.com homepage.}

Four and a half years after it was launched, precisely in the end of 2018, CoinMarketCap has gained 3.6 billion page views. The first version of CoinMarketCap Android app was launched on April 2019. On April next year, Binance acquired CoinMarketCap.

Information about cryptocurrencies on CoinMarketCap is updated regularly as they receive feeds from various cryptocurrency exchange sites as well as directly from crypto coin entrepreneurs, so the numbers are as close to the correct number as possible every time.

Coins are placed in order of total market capitalization and not by any other order such as the ability to grow in value or individual coin value and so on, so looking at the top coins doesn't necessarily represent which currency is currently growing in value. It is the market capitalization rank.

coinmarketcap.com is a great site to get necessary information of all major and smaller cryptocurrencies. On this page, we can check how many coins are mined each day, beside of getting informed about their price movements. The page is user-friendly with simplified overview of all realted things that makes it easy to quickly navigate to the coin of our interest. Of course, it is a great tool to have next to our exchange account.

(2) How Coinmarketcap.com useful for Crypto User/Trader?

On coinmarketcap.com, everyone can at any time get any related and relevant information about any cryptocurrency on the list. At the time I perform this task, coinmarketcap.com has listed as much as 5545 cryptocurrencies.

^{5545 cryptocurrencies are currently on CoinMarketCap listing.}

Some ways on how CoinMarketCap could be useful for users / traders are:

• The price movement information of any coin on the CoinMarketCap list. The quick look at the Last 7 Days column on the right side of the page is an istant information that might be useful, basically to see the last 7 days price movement of the top cryptocurrencies by market capitalization rank. We can see the price movement of every coin that has been listed in CoinMarketCap on the market chart. The chart showing the price movement of the last seven days, so we can easily see if the coins' value movement whether they are going up or down.
  ^{The quick chart of the last seven days price movement.}
  To get the information on specific cryptocurrency that is not on the front page, user could use the search engine.
  ^{The Search box. It truly useful.}
• The page of a single particular cryptocurrency shows detailed information about that particular cryptocurrency. For example, the Steem Dollars (SBD) page, which can be reached on https://coinmarketcap.com/currencies/steem-dollars/. It shows all related information about SBD and some information that might be helpful for user to understand the newest update about this cryptocurrency.
  ^{The Steem Dollars (SBD) page on coinmarketcap.com.}
• The price movement chart on each particular cryptocurrency might help traders to understand what is going on on the market, thus it will help them making decision. For example the TRON chart as seen on https://coinmarketcap.com/currencies/tron/.
  ^{TRON price chart.}
  The users can change the chart view into TradingView mode and by doing that they can use any available tools to analize the market before making decision.
  ^{TRON price chart in TradingView mode with some indicators was applied.}

(3) Explain the Individual Page for each Crypto Coin on CoinMarketCap.

The individual page provides the information about a particular cryptocurrency. For example, the individual page for BitTorrent (BTT).

Every coin page (individual page) consists of menus or features. These menus (features) might differ between coins or tokens. The menu for BTT are: Overview, Market, Historical Data, ICO, Wallet, News, Socials, Ratings, Analysis, and Price Estimates. Let's take a look of each of them a little closer.

^{The menu bar of individual coin page.}

(3.a) Overview

^{The individual page of BitTorrent on CoinMarketCap on [Overview] Tab.}

On Overview page of BitTorrent, users can get any information related to BitTorrent as they will on any other individual page. The information provided in the individual page are (but not limited to):

• The real-time price of the particular coin along with it's movement in the term of percentage, up or down (marked number 1). It is possible to change the Low/High period from it's default 24h to 1 month or 1 year (marked number 2).
  ^{Real time price of BTT when I perform this task.}
• The "social" segment (marked number 1) and the "economic" segment (marked number 2). On the "social" segment users are able to gather information about the coin homepage, community, whitepaper, and any other available information. While on the "economic" segment, users will have chance to understand the market capitalization of that coin, it's fully dilluted market cap, market volume, and so on.
  ^{The "social" and "economic" segments.}
• Coin price statistics. This segment provides a thorough and detailed information about the coin price. The information ranges from the realtime price, 24 hours price change, Low / High, market dominance, market rank, All Time High, All Time Low, Circulating Supply, and so on.
  ^{Coin price statistics segment.}
• Coin Chart. This is the useful tool for traders to study the coin market.
  ^{The BTT Chart.
  The chart in TradingView mode in 1D timeframe without any tools attached.}
• Scrolling further down the page, users will see the basic information about the coin. Clicking on the [Read more] button will reveal more detailed information such as a brief history of the coin, who the founder(s) is or are, and so on.
  ^{Basic information of the coin.}
• On the lower part of the page, users could see the highlight of the coin markets, where they can buy the coin, with a link to see all available market.
  ^{The BTT Markets.}

(3.b) Market

This menu provides information in which markets the coin (in this case BTT) is traded, with the type of pair and price, as well as volume and liquidity.

^{The individual page of BitTorrent on CoinMarketCap on [Market] Tab.}

(3.c) Historical Data

The Historical Data menu provides information in the form of a list of daily coin prices which are divided into: the price when opened, the highest price, the lowest price, and the closing price on that day. It also mentions daily volume and market capilatization. The date range can be arranged to a maximum of the last 365 days.

^{The individual page of BitTorrent on CoinMarketCap on [Historical Data] Tab.}

(3.d) ICO

This menu shows the token realease schedule and the token distribution.

^{The individual page of BitTorrent on CoinMarketCap on [ICO] Tab.}

(3.e) Wallets

On this menu, users can get informed of what wallet can be used to store their tokens.

^{The individual page of BitTorrent on CoinMarketCap on [Wallets] Tab.}

(3.f) News

It contains news related to BTT from many sources. It can be from a blog on coinmarketcap.com, or a tweet, or from another website.

^{The individual page of BitTorrent on CoinMarketCap on [News] Tab.}

(3.g) Social

It shows the actifity of the official social media accounts of the coin. It might be a tweet on Twitter or a status update on Facebook.

^{The individual page of BitTorrent on CoinMarketCap on [Social] Tab.}

(3.h) Ratings

Coinmarketcap.com does not make any ratings on coins. They basically just share the result of the rating made by The Fundamental Crypto Asset Score (FCAS™).

^{The individual page of BitTorrent on CoinMarketCap on [Ratings] Tab.}

(3.i) Analysis

It would be interesting to read some analysis about BitTorrent, but it is currently unavailable. I guess it is still on development.

^{The individual page of BitTorrent on CoinMarketCap on [Analysis] Tab.}

(3.j) Price Estimate

This feature is still in beta testing. The idea of this feature is to let users place their estimates for the next six months.

^{The individual page of BitTorrent on CoinMarketCap on [Price Estimate] Tab.}

To see how others estimate, users must place at least 1 estimate. To place estimates, users be logged in to the coinmarketcap.com.

^{Must be logged it to place estimates.}

(4) Explain in detail any 5, what are the CORE Features and Sub Features available on Coinmarketcap.com?

• 4.1. Spotlight
  Spotlight is the feature where users are provided with the brief information of five cathegories, which, as marked in the picture below, are: 1) Trending; 2) Biggest Gainers; 3) Biggest Losers; 4) Most Visited; and 5) Recently Added. Users can see brief information about all cathegories with a link to more detailed information for each of them. To reach more detailed information for each of the cathegories, users can click the [See more] button on upper-right corner of each list.
  
• 4.2. NFT
  This feature contains information on Non Fungible Tokens (NFTs). It lists the top NFT protocols and tokens by 7 days sale volume. The list is created in the descending order (the most valuable first). When I performed this task, 130 NFTs were in CoinMarketCap list, as showed marked number 2 on below picture.
  ^{NFT Feature.}
  Clicking on the [Category] button (marked number 1) will activate a dropdown list where users can choose among available categories: Collectible, Game, DeFi, Art, Utility, Metaverse, and Sports.
  ^{NFT Feature, the Category button.}
• 4.3. Converter
  In the converter feature, users are provided with a converter calculator (marked number 1), the list of popular cryptocurrencies conversions (marked number 2) which is like a shortcut to a conversion, and the news and brief summary related to latest BTC and its relation with USD (marked number 3).
  
• 4.4. Global Chart
  This feature is like a recapitulation of the coins available on CoinMarketCap listing in the charts. It brings users 3 charts: 1) Total Cryptocurrency Market Cap, 2) Total Cryptocurrency Market Capitalization (Excluding Bitcoin), and 3) Major Crypto Assets By Percentage of Total Market Capitalization (Bitcoin Dominance Chart).
  
  Chart tools also a great addition to this feature. Users can adjust the timeframe they need on the marked number 1 as shown on the picture below. On the marked number 2, users can swith view between linear scale, log scale, or full page. Here they can also print the chart and set the time scope for the chart.
  ^{Total Cryptocurrency Market Cap on CoinMarketCap Global Chart feature.}
• 4.5. Trending
  On this feature, CoinMarketCap shows the list of the trending cryptocurrencies. Trending means the cryptocurrencies that people are searching for on CoinMarketCap. This feature offers the abilitity for users to get information in 3 different timeframes (24 hours, 7 days, 30 days). Users can easily jump to another available timeframe by clicking on the default timeframe button (marked number one on below picture). The trending cryptocurrencies according to the chosen timeframe (by default is 24 hours) will be shown in the area marked number 2).
  ^{The CoinMarketCap trending feature.}

(5) How Or When coinmarketcap.com Decides To List A Coin?

As we can see that it is currently more than five thousand cryprocurrencies are listed on CoinMarketCap. To be listed on CoinMarketCap, every cryptocurrency must go through a series of processes first. Here are the steps it takes for a coin to get listed on CoinMarketCap, as seen on this article by CoinMarketCap titled Listing Criteria;

The coin owner files a request for listings through online submission form at https://coinmarketcap.com/request/. CoinMarketCap has declared it on their website that the online submission form is the ONLY way to request for listings/updates to CoinMarketCap. So. No other method, beware of the scammers!

^{The online submission page. Click on the box to bring out a dropdown menu.}

^{Select a category from dropdown list.}

At the online submission page, the coin owner fills in all required data as completely as possible so that their requests can get attention to be prioritized in the assessment by CoinMarketCap team. Among things that will make a coin to be considered for a tracked listing are: the coin must have a functional website and block explorer, the coin must be available for trade publicly, the coin is actively traded on at leadt one exchange that has tracked listing status on CoinMarketCap, and so on. Meeting all requirements does not guarantee a a coin to get on the list.

^{The relevant form for the selected menu appears. Fill it in.}

If a coin "survives" the previous step, then it will be in the next phase: evaluation. These factors are included in the evaluation but evaluation is not limited to them : Trading Volume & Market Pairs; Community Interest & Engagement; Traction/Progress; Team; Product/Market Fit; Impact & Practicality; Uniqueness & Innovation; Project Longevity & Activity;

After meeting all requirements and the CoinMarketCap standardization, then a coin can find itself on the listing. CoinMarketCap does not set any price for listings, they are alway free. Offering any payment in any form will not improve the chance of a coin to get listed. So they really do a fair evaluation and assesment on their standardization whether a coin could make it to the list or not.

(6) How or When coinmarketcap.com Decides to List Exchange?

CoinMarketCap classifies exchanges into 4 type: Spot, Derivative, Dex, and Lending. When I was doing this homework, there were 307 Spot, 37 Derivative, 76 Dex, and 3 Lending exchanges on the CoinMarketCap list. An exchange could be classified in to more than one exchange type.

^{The Spot exchanges list on CoinMarketCap.}

To be listed on CoinMarketCap, an exchange must go through the same process that the coin goes through, which are: filling in the online submission form, and then get evaluated by the CoinMarketCap team. Once an exchange meets all the requirements and the CoinMarketCap standardization, then an echange might be on the list.

^{Choose to add exchange to the listing.}

^{The relevant form appears to be filled in.}

Among things that will make an exchange into CoinMarketCap consideration for a tracked listing are: must have functional website with trading volume that matches its API data, must be in operation for at least sixty days, traders can place buy and sell order on an orderbook, market pairs / order books are available to be viewed by users without the need to log in to the website, and so on.

(7) What is the purpose of the Uniswap feature on the Coinmarketcap.com site and how a trader can use it?

(7.a) The Purpose

The Uniswap feature on the coinmarketcap.com serves a purpose to help users exchange cryptocurrencies. Because the Uniswap platform was built on top of Ethereum blockchain, then it only facilitates automated transactions between cryptocurrency tokens on the Ethereum blockchain. The "swap" or "trade" or "tokens exchanging" (the automated transaction) is made possible and easy through the use of smart contract.

Swapping or exchanging tokens through Uniswap platform is easy. It does not require users to have deposited some amount of tokens on an exchange. The swap can be performed throuh Ethereum wallet.

(7.b) How To Use The CoinMarketCap Uniswap Feature

This is how to use the CoinMarketCap Uniswap feature:

• Click the blue [Swap] button on the lower right corner of the coinmarketcap.com, as pointed by the number 1 marker in the following picture.
  ^{Click the button.}
• Now users need to connect their Ethereum wallet to the Uniswap feature. They can either click on the blue [Connect] button number 1 or number 2 as shown in the picture below.
  ^{Click to connect Ethereum wallet.}
• In the appearing pop-up box, choose a wallet to connect. I chosed MetaMask wallet. So I clicked on it.
  ^{Choose a wallet to connect.}
• The MetaMask wallet Chrome extension appeared, I performed necessary action to log in to the wallet.
  ^{Fill in the extension password to proceed.}
• I succesfully connected my MetaMask wallet to Uniswab feature on CoinMarketCap. The wallet address was shown on the upper right of the Uniswap feature pop-up box (marked number 1). On the swap section (marked number 2), users can choose the coin to Swap from and to. And the section that marked number 3 is where users enter the amount of token to swap.
  ^Connected!
• Users can click on the token names in the swap section (marked number 2 on the picture above) to select their tokens. Another pop-up box will appear, as shown on the picture below. Users can search for a token by typing the name of the token into the search box (marked number 1). Or they can simply click on the common bases section if they found their token among the list (marked number 2). Or they can just scroll to find their preferred token (marked number 3).
  ^{Choose the token.}
• The following picture shows the results of my experiment to find and fill in the tokens name that I want to swap. The next step will be filling in the amount of token to swap.
  ^{Enter the amount, and users are ready to swap.}

(8) What is Blockchain Explorer? What Information available under Blockchain Explorer? How many Blockchain Explorer available on Coinmarketcap.com & How it helps users? If you are using any one of the Blockchain from the available list then show with the screenshot how you will use this feature?

(8.a) What is Blockchain Explorer?

Blockchain Explorers are sites or web-based applications that help users track or find information on a blockchain, be it block, transaction time, transaction status, and so on.

(8.b) What Information available under Blockchain Explorer?

Blockchain Explorer provides all information or data on the blockchain, including transactions, blocks, and all other related information stored in detail on the blockchain. Among information users can see on the blockchain explorer are:

• the details of a block,
• whether a transaction it was a success or not,
• what price or fee did a transaction take,
• number of transaction made in each block,
• addresses,
• and many more.

(8.c) How many Blockchain Explorer available on coinmarketcap.com & How it helps users?

There are 4 Blockchain Explorers currently available on coinmarketcap.com. They are: Bitcoin Blockchain Explorer, Ethereum Blockchain Explorer, Litecoin Blockchain Explorer, and Binance Coin Blockchain Explorer.

^{Blockchain Explorer on CoinMarketCap.}

(8.d) If you are using any one of the Blockchain from the available list then show with the screenshot how you will use this feature?

The users can search for a detailed information of a block or transaction, or address simply by typing the number of that particular transaction or block or addresses or any other data to the search box and choose the blockchain they prefer. This picture below shows that to search for a detailed particular data on CoinMarketCap Blockchain Explorer, a user can do that through one of the two segments as marked number 1 or number 2.

^{How to make use of the Blockchain Explorer.}

I wanted to see a detailed data for a block on Ethereum. The block number was 12700000. So I typed the block number in the search box (marked number 1 on the following picture), choosed Ethereum on the dropdown list (marked number 2), and hit the [Search] button (marked number 3).

^{How to search for Ethereum data on block number 12700000 using the CoinMarketCap Blockchain Explorer.}

Here was the result for that search. The first segment of the result page (marked number 1) shows the information of the search block, which includes the block hash ID, number of transactions, date and time the block was confirmed, amount transacted on the block, and so on. The second segment (marked number 2) shows a brief information of the transactions made on that block. The block contains a total of 176 transactions.

^{The search result for block 12700000 on Ethereum using the CoinMarketCap Blockchain Explorer.}

If I wanted to see the detailed information of a specific transaction from here, I can simply click on the hash ID of that transaction. For example I wanted to see the detailed information of the last transaction of this block (the top most), so I clicked on the hash ID as pointed on the picture below.

^{Clicking on the transaction hash ID to see the detailed information of the transaction.}

Here was the result. It shows detailed transaction data including amount transacted through this transction, the gas price for this transaction, the gas used, fees, gas limit, et cetera.

^{The transaction detailed information page.}

(9) CONCLUSION.

In addition to acting as an information center related to blockchain technology and cryptocurrency, coinmarketcap.com also provides users with useful tools. Information is presented thoroughly and completely about cryptocurrencies, especially those that are included in their listings. In addition to presenting information in aggregate form, coinmarketcap.com also provides detailed information. Tools are presented in a very user-friendly way.

(9.a) Information

Among the information presented that can be useful to users are:

• cryptocurrency price movements;
• latest cryptocurrencies prices;
• trading volume;
• circulating supplies;
• important notes about cryptocurrencies, such as ATH, ATL, price changes within a certain timeframe, market dominance, and others;
• the coins that people are searching on coinmarketcap.com;
• how to get a coin or an exchange listed on coinmarketcap.com;
• what will get a coin or an exchange delisted on coinmarketcap.com;

(9.b) Tools

Among the tools that will be very helpful for users are:

• Coin chart. Wit this tool, users can see the price change of the coin in a time range that they can arrange. The coin chart can also be viewed in TradingView mode where trader can learn the latest trend that is building on the market to help them make decision.
• Swap. This feature helps users swap their tokens easily. It is a time-saving because it is done is very few simple steps. Looks like the coinmarketcap.com has a plan to integrate more swapping platform in the future. It is seen that the swap button acts as a dropdown list when it is hit. Currently, there is only one swapping platform available, which is Uniswap, we can hope to see more on the list in the future.
  ^{It saves time.}
• Blockchain Explorer. This tool helps users to get a thorough data from a specific blockchain. Currently, coinmarketcap.com provides 4 blockchain explores which are: Bitcoin, Ethereum, Litecoin, and Binance Coin.

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So, coinmarketcap.com can be a place where someone comes to just get certain information related to blockchain technology and cryptocurrencies. In addition, coinmarketcap.com can also help users to make their decisions in cryptocurrency trading. But, coinmarketcap.com is not a place where users can ask for suggestions on investment, all decisions are the responsibility of the users. Bear in mind that CoinMarketCap is not a site where we can exchange coins or getting advice on coins. It is just a tool that we should use in conjunction with other information, so that we can easily understand market trends and make our predictions on the market.

Thanks

Thanks Professor @stream4u for the lesson titled Crypto Prices & Market Source - COINMARKETCAP.COM.

Pictures Sourcing

• The editorial picture was created by me.
• All another pictures were screenshoots and were edited with Photoshop CS 3.

Sources and Reading Suggestion

• https://www.coindesk.com/what-is-uniswap-complete-guide;
• https://en.wikipedia.org/wiki/Uniswap;
• https://en.wikipedia.org/wiki/Smart_contract;
• https://coinmarketcap.com/guides/blockexplorer;
• https://blockchain.coinmarketcap.com/;
• https://www.blockchain.com/explorer;
• https://indodax.academy/ini-cara-mengecek-transaksi-bitcoin-pada-block-explorer/;
• https://tokeny.pl/id/explorer-blockchain/;

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My Introductory Post | Artikel Perkenalan Saya.

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^{Picture created by @aneukpineung78}

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