Crypto Academy Season 3 | Homework post for [@stream4u] : Crypto Prices & Market Source - COINMARKETCAP.COM

in SteemitCryptoAcademy3 years ago (edited)
Continuing learning in the cryptoacademy, today i am writing homework task for professor @stream4u , which is about review of coinmarketcap. Without dodging, let's begin.

What Is Coinmarketcap.com? (Minimum 80 words needed)


IMG_20210710_134907.jpg

Coinmaeketcap is a crypo market online website that provides comprehensive data related to thousands of crypto coins and exchanges. It was founded in 2013 by Brandon Chez . Coinmarketcap has been taken up by Binamce in 2020. Binance being a pioneer crypto exchange further added to the credibility of this web service. It provides all sort of data needed by a trader for trading and also contains adequate data to be used by cryptoenthusiasts for research and analysis. The good thing worth mentioning about coinmarketcap is its quest to continuously add value to the platform by introducing new features. It can be understood by taking example of liquidity score and web traffic factor that were added during 2020. To enhance transparemcy and accountability , CMC did an alliance with about a dozen leading crypto platforms in 2019 following some allegations of data discrepancy.


How Coinmarketcap.com useful for Crypto User/Trader?


Coinmaeketcap provides all the necessary information required for a Crypto trader to analyse the different perspectives of the market . In this section, we will look into the general features provided and not the individual features of each coin.

Price : Average price of each token is mentioned and updated every five minutes. As mentioned above, via data accountability and transparency ( DATA) service , coinmarketcap is in alliance with 12 major exchanges to provide live price of the cryptos to be updated from time to time. So price displayed on coinmarketcap are authentic. Coins are ranked in decreasing order of price like BTC holds rank 1 and ETH stands at 2 .

Volume : it provides traded volume of listed coins in different markets amd therefore gives a clear idea to the trader about market psychology. Coins can be ranked as per trading volume also.

Supply : By displaying supplies of coins traders get an idea of existing market dynamics as supply refers to circulatimg volume of coin under consideration. Traders can also check total supply of the asset that can be mined.

individual details of different types of supplies, prices and volumes are seen after checking each coin individually.


Explain the Individual Page for each Crypto Coin on CoinMarketCap.


Once we open main page of the coinmarketcap, we see the list of the cryptocurrencies. To find details of Individual cryptocurrency, we can either choose from the list or simply type the name of the cryptocurrency in the search bar provided at the top of the page and then open the page of the desired cryptocurrency by clicking on the name of the cryptocurrency. Let's take look at different features of the Individual cryptocurrencies. Take a look at the screenshot below.

1625830604364.jpg

Individual page of each crypto shows rank of coin, price of token, 24 hours high made by coins, 24 hours low, and percentage change in price.


Moving further down the page , we can see four options like "Buy", "Exchanges" , "Gaming" and "Earn ctyptos".

IMG_20210709_172912.jpg

If we click on buy, it opens a page taking us to Binance. However we can buy from other platforms too. On checking exchange, all the exchanges are loaded as per ranking, showning different details of a coin under review. When we check for gaming, we get option to play games based on coin under consideration. On clicking on earn cryptos, option to earn cryptos like staking can be seen.


Moving further down the page, we get to see option "Links " And "Tags".

IMG_20210709_175346.jpg

Once we click on links , we get to see all the important links related to important sites like social media etc of the cryptocoin under review as shown in case of BTC below.

IMG_20210709_175722.jpg


Under the tags section, we get to see numerous features in case of BTC. Of these features, the worth mentioning tags are of "concensus algorithm " And "Encryption " Like POW and SHA 256 in case of BTC. When we clcik on these tags, we get to see all other coins following the same viz POW and SHA 256 . In case of BTC, there are 27 other tags , the explanation of each of them can't be done here.


Moving down we can seen option like "Overview " *Historical data " And "Exchanges".
IMG_20210709_180652.jpg
Under the overview section, we get to see chart aa per price, marketcap or can view on trading view too. We can find charts for different time frames.


Historical data shows the past prices or coin under consideration for different time periods like days, weeks, months.


Under markets section all the Bitcoin exchanges are listed . Moving further down, we find stastics of coin at a glamce like price, 24 h high, low, trading volume etc if we click on see more, we get to see details of remote past like all time low, all time high etc

IMG_20210709_181902.jpg


Bitcoin Analysis : under this section we get
to see details like market trend, holdings, capital flow, comparison with other cryptos amd traditional coins.

News : This section Provide crypro news about the coin umder review fro multiple sources.

IMG_20210709_183017.jpg



Explain in detail any 5, what are the CORE Features and Sub Features available on Coinmarketcap.com? (Any 5 including Core & Sub Feature, Do Not Include Block Explorer & Uniswap Feature, minimum 250 words needed with the screenshot according to the mentioned information, make sure to tag yourself in your screenshot)


Being a feature-rich web service , coinmarketcap provides wide range of Core features and Sab features related to different group of coins . Some of them are mentioned below:

Core features likelike:

IMG_20210709_194033.jpg

  • Cryptocurrencies
  • Exchanges
  • NFT
  • Portfolio
  • Watchlist
  • Calendars
  • Products
  • Learn

Let's take the first core feature of cryptocurrencies and see the subfeatures under it. We click on crypto and see below mentioned sub features.

  • Ranking

  • Recently Added

  • Legal Tender Countries

  • Global Charts

  • Fiats / Companies

  • Ranking

  • Spotlight

  • Gainers & Losers

Let's analyse each of them individually.

Ranking : click on ranking and we saw ranking list of cryptocurrencies with BTC at rank 1 and ETH at 2 etc . Along with ranking different features of each listed coin like price, supply volume, graph of 7days can be seen.

IMG_20210709_195635.jpg


Recently Added : it shows the list of recently added coons to the coinmarketcap. Along side each coin all the features that are showm for other cryptos like price, volume, supply are shown too.
IMG_20210709_200050.jpg


Legal tender countries : Legal tender countries refer to those countries where cryptocurrencies are accepted as legal tender just like the native currency of the country . As we click on the legal tender countries , we can see that one country listed there is El Salvador and date of legalisation ( 5/9/2021) . in addition to that,
On coinmarketcap you can vote for the countries which you think are likely to legalise cryptocurrencies in near future.

IMG_20210709_200844.jpg


Global Charts : it is a very interesting feature of coinmarketcap. We can see marketcap of all the cryptocurrencies taken together, marketcap of altcoins taken together, Bitcoin dominance chart where we see percentage of the major Crypto coins in the market and we can see the clear cut dominance of Bitcoin.

IMG_20210709_202851.jpg


IMG_20210709_202922.jpg


IMG_20210709_202952.jpg


Gainers/Losers : Under this sub section, list of the cryptocurrencies is provided in descending order of the their gain and descending order of their loss. It means that cryptocurrency listed at the top in the top gainers has highest price hike in last 24 hours and cryptocurrency listed in the top losers has highest price dip in the last 24 hours. Only those currencies are listed which fulfill a condition of having 24 hours volume greater than 50000 US dollars.

IMG_20210709_204116.jpg


IMG_20210709_204058.jpg



How or when Coinmarketcap.com decides to list a Coin? (This is for your own study and research, you can explain as per your findings but it should be in your own words and not from a direct source and provide a link for it)

I have done some research on this from HERE . Let me try to put it in my own words.

Before a coin gets listed, it must meet following criterias :

  • it must have a well established and integrated blockchain to back up like consensus algorithm, hashing algorithms, P2P network, block exploler etc.

  • For any coin to flourish in market, we would like to find details about that coin from official website or decentralised application. Isn't it. So these criterias are also sought by coinmarketcap.

  • As a matrer of common understanding, for a token be traded an exchange is must. So coonmarketcap demands a coin to have a good trading volume and that too on one of the exchanges ( atleast) listed on coinmarketcap.

  • Must have a representative to establish communication with coinmarketcap so that any data needed may be asked for. Also the team at work must be professionally sound.

  • Must have good user base and significant number of trading pairs. Good user base fosters listing because that signifies the community attention and trust the project has been able to develop. Significant trading pairs facilitate faster adoption of cryptos.

  • Must be innovative project which is likely to have wider adoption based on its diverse utility and simplicity.

Once a coin meets all these criterias, then the project representatives have to fill an online form that doesn't require any fee for submission with all the necessary details requesting listing of coin on the coinmarketcap. The form must be complete in every aspect to be considered for review. In case of any inadequate information, coins may be added to untracked listings (inactive, untracked, unverified). Application form has to be submitted only once and wait for review and verification by web service provider. Coinmarketcap does not like to be spammed or intimidated by any means. Behave Behave professionally and comply with the terms of service so as to get token added to tracked listing.


This is for your self-research and studies, How or when do coinmaemetcap lost an Exchange?

As for listing of exchanges is concerned, the process will remain same but the criterias to be looked for in exchange will obviously be different. So the process has to start from submission of a single online form demanding no fee , followed by evaluation of the exchange criteria based on framework of the coinmarketcap . After meeting all the criterias, the exchange will be listed in tracking list of exchanges with all the features as discussed above. So we are left to discuss the features that an exchange must meet to qualify for listing on coinmarketcap. Here are the features;

  • Exchanges that have been functional for at least two months without any name change are only applicable. If an exchange has subjected to any name change then the exchange must complete two months with that name before submitting an application form.

  • An exchange must have a functional website that provides comprehensive data of each listed crypto that is verifiable and matching the data of API.

  • The listed ccypto pairs and the necessary information must be publicly accessible. Exchange must not demand any personal information from user ro access such data.
  • Centralised exchanges must have an order book to enlist buy or sell orders along with the traded volume and other necessary data accessible to the traders while as in case of decentralization exchange, coinmarketcap is authorised to verify individual user case before enlisting it.

  • Representative to communicate with and a team of professionally sound people would foster listing.

  • Some procedural formalities like links to individual assets, trading pairs, list of total assets etc must be fulfilled.


What is the purpose of the Uniswap feature on the Coinmarketcap.com site and how a trader can use it? (Minimum 100 words needed with the screenshot according to the mentioned information, make sure to tag yourself in your screenshot)

UNISWAP created by Hayden Adamsb is a GPL Licensed decentralised cryptocurrency exchange based on Ethereum blockchain . UNiswap facilitates automated transaction via smart contracts. Being decentralized it uses no intermediary and no order book .


  • To find it on coinmarketcap, simply scroll down to bottom and at right corner we can see "SWAP". Click on it.

  • On next tab click on "Connect wallet". Than
    Select preferred wallet - let's say we choose "Coinbase Wallet" Than we need to nstall the Extension to connect wallet.

  • Once done than choose the preferred tokens for the swap. For example ETH/USDT . For 1ETH we get 2320 USDT (app4px).

IMG_20210710_090723.jpg


IMG_20210710_090917.jpg


IMG_20210710_091335.jpg


IMG_20210710_091702.jpg


IMG_20210710_092130.jpg


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? (Minimum 120 words needed with the screenshot according to the mentioned information, make sure to tag yourself in your screenshot)

Blockchain exploler is an online web based seevice specific to each blockchain. through which details of blocks can be explored. The details that we can explore are transaction hash, date, time, amount, address (To and From) confirmation sratus, fee charged, nature of transaction like smart comtract triggered or not, bandwidth or energy consumed ( Tronscan) etc.

To look for blockexploler on coinmarketcap, click on top right corner, a drop down menu will appear with multiple options. Click on prosucts, we find blockchain explolers. We can find Bitcoin, Etherium, litecoin and binance coin explolers listed there . With the listing of these features, users can explore these without having to search anywhere else.

IMG_20210710_002033.jpg

Let's explore one of them. Say BTC exploler. Click on BTC exploler and next we get to see "Blocks " And "Transactions". Click on blocks and we see details like

  • Block Height
  • Amount of transactions.
  • Block created by
  • Hash ID of block
  • Date and time of transaction.

IMG_20210710_084324.jpg

Next we click on the TRANSACTION and we can see details like .

  • Hash ID for transactions
  • Amount transacted
  • Fee charged
  • Date and Time.

IMG_20210710_084732.jpg


CONCLUSION.


Before concluding i should say, thank you professor @stream4u for selecting this topic because i had nnever explored coinmarketcap this way before. It was undoubtedly a new and amazing experience that promoted learning in a playway but responsibie manner. I learned some features which i earlier needed but was not aware that these features are present in coinmarketcap . Let me end it om thanking note to the professor again.


Thank you

Sort:  

Hi @drqamu

Thank you for joining The Steemit Crypto Academy Courses and participated in the Homework Task.

Review Visit Level
Task Remark
Comment
Guidance, Feedback, Suggestions
Grade
Verification (Done, Hold)
First
Completed
Provided information is explained well, you explained SWAP Feature and Blockchain Explorer very well. You explained each topic with a screenshot for every possible detail. However, expected quite more details in some features like News and Recently added coins here you could be tried to explore it in more detail like what kind of information, news we can get from here, how these options are useful for crypto users, what crypto users can do with the help of these options in detail.
Overall you did well but try to be more informative and provide all possible details. Explore each provides well and in detail.
9
Done

Your Homework Task verification has been done by @Stream4u, hope you have enjoyed and learned something new.

Thank You.
@stream4u
Crypto Professors : Steemit Crypto Academy
#affable

You have been upvoted by @sapwood, a Country Representative from INDIA. We are voting with the Steemit Community Curator @steemcurator07 account to support the newcomers coming into Steemit.

Engagement is essential to foster a sense of community. Therefore we would request our members to visit each other's post and make insightful comments.

Thank you

Coin Marketplace

STEEM 0.18
TRX 0.13
JST 0.029
BTC 59269.62
ETH 3112.63
USDT 1.00
SBD 2.41