Crypto Academy / Season 3 / Week 2 - Homework Post for stream4u | Crypto Prices & Market Source - COINMARKETCAP.COM
Greeting everyone in the Crypto academy community, trust you all doing great. I attended the lecture of Professor @stream4u in the advance class.
The professor lectured us about coinmarketcap, now I will be attending to the homework task hope you enjoy it.
What Is Coinmarketcap.com
https://coinmarketcap.com/ is one of the most viable world platforms in the cryptocurrency industry right now which was Introduce by one Brandon Chiz in 2013 and has its headquarters in the United States, With over thousands of crypto tokens and exchanges listed on its system. This is a free-to-access website that is open to all users and is free of any restrictions or fees. It is tasked with providing all necessary information and statistics for all available tokens, ensuring that users are well informed about their individual tokens.
The homepage of coinmarketcap.com
Moreover, Coinmarketcap is specifically designed for users in the crypto ecosystem to keep track of different assets by revealing the assets' live prices, ranks by market capitalization, price behavior of the assets over time, platforms where individual assets can be traded (Exchanges), and a variety of other data. In summary, the above are only a few of the things Coinmarketcap does, and we can conclude that it's a platform that provides all of the information about crypto assets that a trader/user may want to know.
How Coinmarketcap.com useful for Crypto User/Trader?
As I indicated in my first paragraph when discussing how coinmarketcap has maintained to give all important and required information for crypto users, its utility is fairly extensive. The coinmarketcap website includes information on pricing, total supply, circulating supply, assets' chart pattern (7 days), volume (24 hours), market capitalization, and so on. There are also additional features available on coinmarketcap.com, making it more useful for users. I will briefly discuss some of the features and the usefulness for trader/users.
Price, 24hrs volume, market capitalization
circulating supply and 7 days chart
From the screenshot above Let's take a look at each of the parts that have been identified.
Pricing: Coinmarketcap displays the current price of every asset listed on the site, allowing traders and users to stay up to date on the latest asset prices. Coinmarketcap collects trading prices from different exchanges, averages them, and updates them on the platform to give users the live price of each of the assets available. This is due to the arbitrary (unpredictable) trading that occurs in cryptocurrency, where we have slight variations in the trading price of assets on different platforms.
Volume (24h): The volume traded throughout the course of a 24-hour period is based on all transactions made across all exchanges, not just our favorite exchange. This data provides a user with a summary of the cryptocurrency's performance based on investor actions and affiliation with individual and different coins.
Market capitalization: This is the value of the cryptocurrency in circulation, which is the value of the total number of coin that has be mined (that is already transferable). This can alternatively means the total amount of circulating cryptocurrency in circulation divided by its current unit value (price). This decides how a crypto asset is dependable, sturdy, and performance-driven. Coinmarketcap displays the market capitalization of all available assets while also ranking them in order of market capitalization.
Bitcoin Market Cap and Rank
From the screenshot above we can see that Bitcoin has the highest market capitalization and it is ranked #1 above all other cryptocurrency.
Circulating Supply: this simple means the number of cryptocurrency coins that are already circulating in the market, i.e minted coins that are available for trading at the moment. The demand and supply theory simply describes how the coin performs; when there is an excess supply in circulation that exceeds demand, prices fall, and vice versa.
Chart pattern (7 days): The price behavior of the asset over the last 7 days is shown on a chart that reveals different trends of the asset over time, allowing traders/users to examine what has happened before before making trading/investment decisions.
Bitcoin chart in the last 7 days
The screenshot above is the price chart pattern of Bitcoin in the last 7 days, you can see the price reach a support line of $32,133.18 and a resistance line of $35,937.57 in the last 7 days.
Explain the Individual Page for each Crypto Coin on CoinMarketCap.
To explain this process, I'll use the Bitcoin cryptocurrency page. Overview, Market, Historical Chart, Holders, Wallets, News, Socials, Ratings, Analysis, and Price Estimated are the information headings. Each of the items stated above will be discussed below.
BTC data and information
Before going down to the discussion, the table contain the details of the information I captured on the landing page.
| Current price | $32,642.14 |
|---|---|
| Marketcap | $612,081,990,431 |
| Rank | #1 |
| Circulating supply | 18,751,281 BTC |
| Volume | $30,135,597,183 |
| Total supply | 18,751,281 BTC |
| Volume/Market Cap | 0.0493 |
Now back to the discussion, we look at the information one after the other
Overview
The overview section allow users to see the previous price movement of the selected asset and its current behavior in a chart which gives the information of the asset's behavior through time. Price, Market cap, and TradingView are the three sub-sections available under the overview section. A trader/user can choose the period (1D, 7D, 1M, 3M, All Time) that he or she wants to look at for the Price and Market Cap chart, and the TradingView option opens the chart patterns in TradingView.
Price Chart
Market Cap Chart
Tradingview Chart
Market
Market is another information page that provides an overview of chosen asset activity across all exchanges, as well as their trading pairings and trading types, such as Spot and Perpetual and Futures trading.
Market
Historical Chart
As the name suggests, This section provides the asset's price history through time by displaying the asset's price over the previous days, months, and years. Users can change this to their preferences by choosing a date range to investigate. Each day's opening price, highs, lows, closing price, volume, and market cap are displayed on the historical chart.
Historical chart
Holders
This section contains the holders data of the selected asset, which include the total number of asset holders' addresses, active addresses, and some top holders statistics in percentage.
Holder
Wallets
This section provides us with firsthand knowledge of the many wallets available for the selected asset. This include the address to the wallet, and the various wallet kinds available for our use, such as paper wallets, hot wallets, and cold wallets.
Wallet
News
This is a section where we can acquire the most up-to-date information on the asset in question as well as other cryptocurrencies. It also lists the most popular Coins and Tokens on the market. The latest news and Alexandria are the two sub-sections. The latest news, as the name says, displays the most recent news in the Crypto ecosystem, whereas the Alexandria displays all of coinmarketcap.com's unique works and publications.
Socials
This section reveal the recent social news of the selected asset, which also includes tweets. The site most commonly featured here is Reddit, where the current social news as interacted with on the platform as regards the asset is revealed.
Social
Ratings
This section measures the behavior, often known as the health, of the selected assets. This test takes into account three factors: user activity, developer behavior, and market maturity. Bitcoin's health state, as determined by the page, is 898 out of 1000.
Rating
Analysis
This section provides information on the current state of the selected asset or cryptocurrency. It evaluates the asset's position in the market to see if it's bullish or bearish, as well as the estimate of asset holders who are profiting, the chart of transactions above a hundred thousand USD ($100k), and many other things.
Analysis
Explain in detail any 5, what are the CORE Features and Sub Features available on Coinmarketcap.com?
In this task, I'll go through some of the core features and sub-core features found on coinmarketcap.com.
Cryptocurrencies (Core features)
This is one of Coinmarketcap's core features, since it provides a details of information about the cryptocurrencies listed on the platform. Ranking, Recently Added, Ledger Tender Countries, Global Charts, Fiat/Companies rankings, Spotlights, Gainers and Losers, and Historical Snapshots are some of the sub-core features under it. This core feature, along with the sub-core features beneath it, provides a user with a details of information.
Cryptocurrencies (Core features)
Ranking (Sub-core feature)
This is one of the most eye-catching sub-core features that offers the trader/user an indication of the cryptocurrency's price and position in relation to other cryptocurrencies listed on coinmarketcap.com. The rank is based on Market capitalization. The crypto assets are listed in ascending order, starting with the highest capitalization and working down to the lowest.
Ranking (Sub-core feature of Cryptocurrencies)
Recently Added (Sub-core feature)
This is yet another sub-core under the Cryptocurrency's Core feature. It informs the trader/user the new added coin, the specific date the coin was added to coinmarketcap. Other information included is the added coin price, blockchain status, volume traded, and so on.
Recently added coin (Sub-core feature of Cryptocurrencies)
Gainers and losers (Sub-core feature)
Another Sub-core feature of the cryptocurrency core feature, this section shows the top gainer and loser coin in the last 24 hours, the time period can also be adjusted
Top Gainer (Sub-core feature of Cryptocurrencies)
Top Loser (Sub-core feature of Cryptocurrencies))
Exchanges (Core feature)
Exchanges is another core feature on Coinmarketcap, and it's a list of all the exchanges that are listed on the platform and offer a variety of asset types for trading. Spot, Derivatives, DEX, and Where to Buy are some of the exchange's sub-core features.
Exchange (Core features)
Spot
Spot Exchanges is a sub-core feature under exchange that lists all of the exchanges that offer spot trading. Spot trading platforms act as a trade mediator, facilitating the process of trading and determining when a bid or ask is matched or fulfilled.
- Example; Binance, Coinbase and so on, the exchange is ranked according to their trust score.
Spot (Sub-core feature of Exchange)
Derivative
This is another sub-core in the exchange section, it listed derivative exchange, in this type of exchange two parties agree on a price for an asset in the future and sell or buy their assets at the agreed-upon time.
- Example Binance, OKEx, and Huobi Global and so on
Derivative (Sub-core feature of Exchange)
Dex
Dex stands for decentralised exchanges, in which there are no intermediaries or mediators in a transaction and only the seller and buyer are involved.
- Example: Uniswap, Honeyswap, pancakeswap and so on.
Dex (Sub-core feature of Exchange)
How or when Coinmarketcap.com decides to list a Coin?
Many cryptocurrencies exist in the world, and they all want to be listed on platforms like CoinMarketCap. However, getting listed on CoinMarketCap is not easy for two reasons: first, CoinMarketCap does not have the resources to accept all applications and list all crypto assets, and second, CoinMarketCap only wants to list trustworthy cryptocurrencies.
As previously stated, CoinMarketCap receives a large number of application for a variety of reasons, however they prioritize application based on the following criteria:
- Credibility: They look for credible information sent by the applicant in the evidence.
- Verification They double-check the applicant's evidence with trustworthy and independently verifiable sources.
- Methodology: they check if the applicant request follow their Methodology.
Listing coin criteria:
They can't list all of the coins that have been requested, so they created a set of criteria, and coins that meet all of the requirements can be added to the list. This set of parameters are a five-step Section.
Section 1 (Application Tips)
- To add a new coin, a form must be filled out, and the only way to do so is online, not through any other channel. The Application form is the only way to add a crypto asset or coin. The form can be accessed here
- Only requests with complete and well-structured information (together with supporting evidence) will be prioritized for consideration.
Only applications submitted in the appropriate place will be reviewed. New exchange applications, for example, must be submitted to the form's 'Add new exchange' option and nowhere else. Applications sent to the incorrect option(s) on the form will be rejected.
The applicant must be completely honest. Your request may be rejected if you make false or misleading statements.
Section 2 (Tracked Listings)
Crypto assets that are well-designed and meet certain criteria, such as decentralisation, consensus algorithms or distributed ledgers, peer-to-peer (P2P), and smart contract technology.
To be listed, crypto assets must have a website and a block explorer.
- A crypto asset must be listed and traded at least on one of the exchanges already listed on CoinMarketCap.
- Coinmarket must be provided a representative from the project with whom it may establish open lines of communication for any explanations.
Section 3 (Evaluation and Verification)
After falling into the category of Tracked listings, CoinMarketCap conducted some evaluations and verifications to ensure that the listing procedure was completed correctly and that other aspects were considered.
Trading volume and market pair of a crypto asset, concept innovation, engagement, team, reliability or longevity, and practicality of a crypto asset are all important factors to consider. Before listing any crypto coin, CoinMarketCap considers all of these parameters.
Section 4 (Rules of CoinMarketCap)
Only the form [link]( can be used to fill out the form and communicate, and no other channel can be used.
Any false or misleading information will result in the Crypto asset being delisted.
The requester should not attempt to approach or bribe CoinMarketCap workers, as the listing is completely free.
Section 5(Delisting rules)
- If the project (and/or its partners) is being investigated, is on a regulator's radar, or has been found guilty of breaking a law, or regulation.
- Extremely bad implementation or reception by the project's community.
Reference
How or when Coinmarketcap.com decides to list Exchange?
The process of listing an exchange on the market is similar to that of listing a coin on the market.
There is only one difference, and that difference is Section 2 (Tracked listing), with the different criteria or factors being stated below:
- The Exchange must maintain a website that displays trading volume as reported through API data.
- The exchange must be operational/active for at least 60 days.
- The exchange must publish a full list of crypto assets, including their price and 24-hour volume.
- Exchanges must provide a representative to communicate with CoinMarketCap about listing information.
- The exchange must have a well-organized website or app that displays all of the assets listed on it.
Reference
What is the purpose of the Uniswap feature on the Coinmarketcap.com site and how a trader can use it?
To begin, let's define Uniswap. It's a decentralized exchange that allows users to swap ERC-20 tokens of their choice without the involvement of third parties, and it also offers a platform where users can act as liquidity providers.
The primary objective of Uniswap's inclusion on Coinmarketcap is to allow users to quickly swap their ERC-20 tokens without the need for intermediaries. As a result, no verification is required before a user can swap an asset of their choice. This option is open to everyone, including those who have registered on Coinmarketcap as well as visitors.
How to Execute this Process Include:
- From the https://coinmarketcap.com/ homepage, scroll down to the bottom of the page and select "Swap"
On the swap page, I chose ETH as the coin I want to swap for UNI, that is I will be swapping ETH for UNI. I enter the amount of ETH which is 0.1 ($217.64) and click on "Review Swap" to continue. A blockchain explorer is a software program that makes use of APIs and other blockchain nodes to extract data from the blockchain and show it in a well-organized way that can be readily searched. In other words, a blockchain explorer can be refer to as a search engine in blockchain technology that allows anyone to look for information or transactions on the blockchain. There is a huge amount of information available on the blockchain explorer, and I will highlight a few of them below. The Cryptocurrency Price The Transaction Volume The Hash Rate The Market Capitalization The Maximum Supply Addresses involved in transactions Block Height Type of transactions and so on. In the coinmarketcap, there are four (4) block explorers which are Bitcoin, Ethereum, Litecoin and Binance coin. To locate this blockchain explorers. Follow these steps Click on the "Product" Option on the homepage From the drop down Click on the block Explorer The screenshot above shows to the blockchain explorer (Bitcoin, Ethereum, Litecoin and Binance coin). The process start from selecting the Binance Explorer from the explorer listed. Information such as block height, the initiating transaction address, the number of transactions, and more is displayed.
Scroll down and select "Swap"
Connect your Wallet
What is Blockchain Explorer? What Information available under Blockchain Explorer? How many Blockchain Explorer available on Coinmarketcap.com & How it helps users?
The Blockchain Explorer
Information that can be seen on the explorer
How many Blockchain Explorer available on Coinmarketcap.com & How it helps users?
Bitcoin, Ethereum, Litecoin and Binance coin blockchain explorerHow to use Binance Coin explorer on Coinmarketcap
Binance coin explorer
View block
Block
- Then I select one of the transactions' hash IDs to view its information, which disclosed the amount of BNB transferred, the transaction fee, the initiating address, the time of arrival, and so on.
Transaction details
- I then chose "View Market Data" from the previous options and the data and information of Binance Coin was displayed.
I made a table for the information displayed
| Current price | $315.65 |
|---|---|
| Market Cap | $48,375,248,602 |
| Rank | #4 |
| Volume | $1,909,071,320 |
| Circulating supply | 153,432,897.00BNB |
| Total supply | 169,432,897 BNB |
Conclusion
The coinmarketcap is a very popular platform that provides all information about the cryptocurrencies listed on the platform, including exchanges that trade the assets and allow users to obtain thorough information about the various assets accessible on the market. When it comes to exchanges, Coinmarketcap provides information on their services, credit scores, and other factors so that trader/users can make informed decisions.
The platform also include a features called Swap, where a trader/user can use DEX called Uniswap, can instantly swap their ERC-20 tokens without any limits or third-party involvement. it simple for customers to manage their assets in any format. a trader/user can also keep track or know the details of any transaction on the Bitcoin, Ethereum, Litecoin and Binance coin using the Block explorer.
Cc: professor @stream4u
This is a well structure article, you have explained the Coinmarketcap and explore the feature kudos to you.
https://steemit.com/hive-197809/@vik24/contest-best-curator-week-1-july-4-july-11
Hi @pocoloco01
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