Coinmarketcap can be seen as a coin tracking website or we can see a Coinmarketcap as one of the crypto currency analysis platform. It is important to mention here that the founder of this wonderful platform is no other person than Brandon Chez. The platform started been officially used in the year 2013. This website as we known provide a whole lot of information about crypto currency market structure, that include the exchange platform and information about the coin itself.
A year ago, Coinmarketcap.com was bought by Binance Capital Management. Most of us might have worked with Binance for a while now or we might have been hearing about Binance for a while now, this is because Binance as an exchange platform is one of the world leading exchange platforms. Even though the Coinmarketcap was bought by Binance, the both companies still function independently that is none has influence over the other. Coinmarketcap.com has shown statistically that the platform has in it the information of more than 5000 coins and more than 250 exchanges which are all found in the platform.
The Coinmarketcap as a website or a platform has several other features ranging from creating of watchlist so as to monitor the coin you are interested in investing on, also to mention but a few, the Coinmarketcap also provides information about latest events as well as upcoming events etc.
The usefulness of Coinmarketcap can not be over emphasized, in the case of both crypto users and traders. A whole lot of information are gathered in one place hence it gives both users and traders the edge to trade efficiently and effectively. Below I will be explaining few of the usefulness of the said Coinmarketcap features.
This is one among the features that is provided by Coinmarketcap as a platform that made it so outstanding. To any one who is a lover of crypto currency, he or she will definitely have one or more which will be of greater interest to him or her. Now in other to keep track of the coins you have interest in you need to set up a watchlist and portfolio so that you can monitor the movement of the said coins. You will be able to know when to buy or sell the coins. So this platform provides all the information you need to track the said coins.
As a newbies in the crypto currency world, you may want to know more about the following to give you an insight on what and how to go about cryptocurrency.
- Who Is Satoshi Nakamoto?
- What Are DApps?
- What Is a Blockchain?
- Hot Wallets vs Cold Wallets: What’s the Difference?
- 5 of the Biggest Crypto Ponzi Schemes etc.
Crypto glossary
This helps user know the rightful word to use while searching for a particular thing in the Coinmarketcap. In this platform there are list of A-z glossary that helps in any search so that which ever word you tend to search will be seen.
Newsletter subscription
This is a section or module in the Coinmarketcap in which both new and old user who wants to have both latest and trending update in the crypto world can subscribe to. This is a place where information concerning crypto coins and exchanges are seen.
Task 3
Explain the Individual Page for each Crypto Coin on CoinMarketCap. (Minimum 150 words needed with the screenshot according to the mentioned information, make sure tag user self in your screenshot)
Every page in the Coinmarketcap is very important because it's all contain a unique information. Example of this individual pages include overview, market, historical data news socials ratings, analysis, price estimates and many more. I will be using HIVE for this illustration Let's get started.
Overview
This part of the page covers the following, rank, category, website info, explorer info, current price with 24 hrs high and low, market cap, chart, volume, live statistic etc. More also, It provide the summary of the asset under review as in the case of our studies here which is HIVE. The screenshot below shows it.
Market
This part of the page covers the section of exchanges provided. It also shows the list of pairs of the coins under review. The screenshot below shows it.
Historical data
This part shows the high, low, open and close price, and also it contains even the volume and the market cap for a selected period. The screenshot below shows it.
News
This part shows both the latest and trending news. So all news concerning the coin under review shows in this place.
Socials
This part shows the presence of coin on social media like Rddit and Twitter.
Ratings
This part contains disclaimer which talks about dependent on a third organizations and are not influenced or endorsed by Coinmarketcap in any way. Here you also see the fundamental crypto asset score (FCAS). This score contains three major factors namely
- User activity: which compares on chain activities to identify growth.
- Developer behaviour: Which measures protocol update
- Market maturity: which looks at risk and liquidity.
Analysis
This part does not have anything to show on HIVE. The screenshot below shows it.
Price Estimates
This part shows estimated statistic and also social hive price estimate. The screenshot below shows it.
Task 4
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 tag user self in your screenshot)
The core features and the sub feature of Coinmarketcap are 8 and 25 respectively. I will be listing the 8 core features and the sub features under them below.
- Cryptocurrencies
- Exchanges
- NFT
- Portfolio
- Watchlist
- Calendar
- Products
- Learn
Crypto currency is one of the core features of Coinmarketcap which gives many information about the cryptocurrencies listed on the platform. Under it are some sub-core features like; Ranking, Recently Added, Ledger Tender Countries, Global Charts, Fiat/Companies rankings, Spotlights, Gainers and Losers and Historical snapshots. The image above shows crypto currency and it's sub-core feature.
Exchanges is one of the core feature on the coinmarketcap and it contains list of all exchanges in the platform that offers services for different asset. Exchanges core feature has some sub-core features which are; Spot, Derivatives, DEX and Where to Buy. The image above shows exchange.
Calender, this core feature has 3 sections which are ICO calender, Free airdrops and Event calendars. ICO calender, this is a full ICO Calender listed in date order. There are 3 categories under this section. Ongoing ICOs, upcoming ICOs and ended ICOs. Free airdrops, just like ICO, it provides ongoing, upcoming and ended airdrops. Events calender, provides the lost of event in the crypto blockchain ecosystem.
Watchlist on Coinmarketcap is another great core feature that allow users to keep track of their favorite crypto assets to monitor its market behaviour over time. Coinmarketcap watchlist allow users to put favourite coins on the watchlist for easy tracking.
Task 5
This is for your self-research and studies, 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)
Visiting the Coinmarketcap website has really given me an insight about the said question under review. I was able to navigate via some criteria that enables crypto asset to be listed on the platform. Below is an overview of this criteria.
First and foremost, it is important to note that the application begins online and then the voin issuer has to do one or two things before starting the procedure. Note also, that the information to be used must be correct and verifiable. So all details must be verifiable before starting an application.
Secondly, the asset in question must have certain qualities or criteria among which is exhibition of leverage cryptography having a consensus algorithm. The asset must be of peer to peer technology for easy transaction through DApps. Also to asset must have an active website. The asset must be traded in any of the exchanges listed in Coinmarketcap for it to be used.
Thirdly, we have listing, it can be classified into four different types namely inactive, unverified, untracked and tracked listing.
- Inactive Listing:- As the name suggest "inactive", is a project that is not active or trending on any of the exchanges list in the Coinmarketcap. It actually can be reactivated to become active once it is seen any of the two exchanges present in the Coinmarketcap.
- Unverified Listing:- In this project, the prices of the asset in question shows up when searched for but the asset it self has not been verified by Coinmarketcap.
- Untracked Listing:- In this project, the criteria mentioned above are not been met by them but once it comes to evaluation process it is very efficient.
- Tracked Listing:- In this project all the criteria and evaluation process is met completely and for that reason, they are termed tracked listing.
Fourthly, evaluation of the data submitted, here the Coinmarketcap looks carefully at the application submitted and be sure that it has all the criteria mentioned above, and also see if the asset is active or not and many more evaluation will be carried out.
Task 6
This is for your self-research and studies, How or when Coinmarketcap.com decides to list Exchange? (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)
Most times, in the case of listing of crypto currency exchange in the Coinmarketcap, the criteria to met is always the same but I have observed some few differences among which are
- The exchange must have a website that is functional enough.
- Once any exchange has been dormant for the last six days it should not be qualified for listing.
- Asset that are present in the exchange must have at least website link and logo so as to know more about it.
- It should allow traders to place order in other books.
- Publication of an API summary price and volume in the last 24 hours is very necessary.
Task 7
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 tag user self in your screenshot)
Uniswap feature was added on Coinmarketcap for users to make a quick swap of their ERC-20 tokens and also provide a safe, secure instant and low-cost Ethereum token swaps experience to users without leaving the platform.
How to Navigate to Uniswap and Connect to Wallet
- From the Coinmarketcap.com page, located the Swap button at the bottom of the page and clicked on it.
- The next step is that I clicked on Connect Wallet to connect my wallet of choice.
- Select swap
- Connect wallet
Now, I selected my wallet of choice that I'd like to connect with the Uniswap DEX such that I selected Metamask. And it initializes the process and eventually connected, and I selected Swap.
- Select Metamask
- Initializing stage
- Select swap
Task 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? (Minimum 120 words needed with the screenshot according to the mentioned information, make sure tag user self in your screenshot)
Block chain explorer, It is a type of software that helps to extract various data from any blockchain. It used API and blockchain nodes to complete its function. It also uses a database to make available searched data in presentable form. By default, most of the blockchain explorers display block data recently mined but past data can be explored using different settings.
Information we can fetch from Blockchain Explorer
A wide variety of information can be extracted using a blockchain explorer among which include
- Number of transactions for the day.
- Hash rate
- Transaction volume.
- Price.
- Latest blocks.
- Addresses involved in transactions.
- Value of the transaction.
- Type of transaction (Transfer or smart contract).
Blockchain Explorer available on Conmarketcap
There are 4 blockchain explorers available on Coinmarketcap and they include Bitcoin, Ethereum, Litecoin and Binance Coin.
Using of Binance Coin Blockchain Explorer
On the home page of blockchain, there is a search bar and option to select the chain which we want to explore.(as shown in the screenshot above in the same task) By default, it is set for Bitcoin and suggested to search block, transaction, ENS and address.
Here I am going to explore Binance Coin blockchain explorer.
To explore the latest block clicked on Block and you will see the following information.
To explore the latest transaction clicked on transaction and you will see the following information.
Task 9
CONCLUSION. (Explain in your words that how was your overall experience and understanding of Coinmarketcap.com?)
Finally, we can now conclude that the Coinmarketcap is no doubt one of the site that has proven to be outstanding once it comes to providing information about crypto currency. This platform does not only gives information about the coin in question but also information about the exchange where you can find this coins. Once you need to know about any voin of your choice, the Coinmarketcap is the best place to check.
There are whole lots of interesting features in the coinmarketcap that makes it unique and outstanding among which is the portfolio page, watchlist and many other. In summary,
Coinmarketcap is generally a place that provides all information about the listed crypto assets. Thanks to professor
@stream4u for this amazing lecture. Thank you all.
Thanks for your time...
Hi @simonnwigwe
Thank you for joining The Steemit Crypto Academy Courses and participated in the Homework Task.
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
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Thanks professor for the feedback i will put in more effort in my research and do more in my homework.