Crypto Academy Season 3 | Advanced course : Crypto Prices & Market Source - COINMARKETCAP.COM
Welcome to Steemit Crypto Academy Season 3, My self @stream4u, I am from India, and one of your crypto professors. I welcome you all to my class.
Previously we learned one of the sources for Crypto Prices & Market that is COINGECKO.COM. Continuation on this now we will be going to learn another and big source for Crypto Prices & Market which is coinmarketcap.com.
The Third-Party sources are played a very important part for us so that we can understand any Specific Crypto coin which we are looking for and then take our action, action means whether we should buy it or not.
coinmarketcap.com is a site and one of the sources which provide us all possible information for each crypto coin.
coinmarketcap.com is basically is an informative website for cryptocurrency which proactively working on the market movement for all crypto coins. At the current date, it is one of the top sites for cryptocurrency.
coinmarketcap.com has multiple features on it which very much important to any crypto traders or investors. You can view total capitalization, also expand the details for each crypto coin.
coinmarketcap.com site decides which crypto coin to be list on a site and currently, it is a big thing when any coin listed on coinmarketcap.com.
Today, coinmarketcap.com provides information for a total of 5531 crypto coins, also others as per the categories.
coinmarketcap.com is free for all visitors, you can check, read any information at any time.
To make sure that the information about crypto coins is up to date with their market movement coinmarketcap.com work with the different available crypto exchanges and the frequency of updating data is 5 minutes which means every after 5 minutes the coinmarketcap.com updating crypto data only if there are any changes and makes sure that users will get updated information which is valuable to take their decision.
As we all know that the crypto prices are different on different crypto exchanges, when coinmarketcap.com works directly with these different crypto exchanges then it takes the average prices and then synchronizes the prices and supply.
Coinmarketcap provides you in-depth and big information for each crypto coin, the website has features that allow you to search the coins by category. each page for every coin provides you all information regarding Marke movements, historical Data, Wallets to store coins, updated News, Socials media movements, Ratings, Analysis.
Price:- Crypto price which is the latest average price, as mentioned above coinmarketcap.com works with the different major crypto exchanges and then synchronizes the price information on every 5 minutes. The price is averaged and then displayed to visitors.
Volume:- coinmarketcap.com provides the 24-hour trading volume for all listed crypto coins, this is the traded total value in specific coin markets in the last 24 hours. For example, if people bitcoin traded $20 in one crypto exchange and the same traded $35 on other exchanges then it combined over the past 24 hours, then the trading volume for bitcoin will be $55.
Supply:- Supply is the number of crypto coins currently in circulation. Supply” is different from Total Supply, Supply is the number of coins in circulation, Total Supply is the number of coins that can ever be created in total.
Coinmarketcap.com provides you the separate pages for each coin in which you will get the full information of the specific coin like below.
Overview:- This section helps you with the Technical chart, in this same you can also check the historical graphs. Three types of Charts options are available for you Price, Market capital, Tradiview. You can graph as per your preference that you analyze the market.
This section also provides you detailed information on the specific coin, their projects, and the Crypto exchange's names where it is currently listed and trading.
Historical Data:- This section provides you the information about the historical price movement for a specific crypto coin like open price, close price, high price, and low price. It also lets you know what was the Volume and Market capital for any specific day.
You can simply drag and copy the data into the Excel file for your self-study and record. It will be better if there is a direct option to export the data into excel but it is not available currently.
News:- This section provides you the information about the most recent news related to the coins and the crypto market, this helps you to know what is happening about the crypto coin and market fundamentally, technically, and sentimentally.
Socials:- This section provides you the most recent Tweets and Reddit forums about the specific coins which help you to understand others' views and opinions, recent projects.
Analysis:- This section provides you the summary of selected crypto coins, This summary also ley you know the current movement like whether it is bearish or bullish. These signals will help you to take an action accordingly.
These are the core features provided by Coinmarketcap.com, clicking on each you will get more sub features and information on it.
Cryptocurrencies, in this feature you will get more like below which help you to get to know more about the crypto coins.
(2) Recently Added
(3) Legal Tender Countries
(4) Global Charts
(5) Fiats/Companies Ranking
(7) Gainer & Losers
Ranking, with the help of this you will get a direct list of coins according to their rank from all cryptocurrencies. The current price, and the average in % for last 24 hours and 7 days.
Recently Added, this lets you know the new crypto coins that recently added and when it was added like 1 day ago or 3 days ago. again you will get separate pages for each coin that is recently added and in-depth information about the coin that helps us to take action.
Coinmarketcap.com provides an individual page for each newly added coin which means we can understand how Coinmarketcap.com works proactively to gather all information for their visitors.
Legal Tender Countries, this is one of the interesting features provided, here we can see which countries have allowed which crypto coin as a legal tender currency.
Legal Tender currency means the currency which you can use as a payment. Every country has its own legal tender currency and only that we can use a payment system like India's tender currency is Rupee. Here you will get information like which allowed which crypto coins as a legal tender currency that we can use to buy needs.
Another core feature of Coinmarketcap.com is Calendars, here will get the information about ICO, Free Airdrops, and Events.
ICO: It means Initial Coin Offering, here you will get the information about new coins and when they will be launching, the ongoing and upcoming project with all information about the company.
Just like ICO, Free Airdrops give you details about the ongoing and upcoming Airdrops in which you can Participate easily with the help of given details like below.
After completion of Airdrop, it also lets you know whether you win or win, if you win then the coin/token will be listed in your given address.
The BIG Integration Of Coinmarketcap.com & Uniswap.
As we know that the Uniswap is one of the decentralized exchanges (DEX) which allow users to swap an ERC-20 token for another ERC-20 token and for this we do not have to deposit the tokens on an exchange and no risk for exposure like Centralized exchange.
We just need an Ethereum wallet like Metamask and with this, we can immediately swap tokens. Users can then swap tokens directly without an order book.
Now the good news for Coinmarketcap users that Uniswap is now directly integrated on the coinmarketcp.com site wherein users can directly swap the Ethereum-based tokens through Uniswap.
The Swap feature can be located on the bottom side at the right corner.
This feature is already active on a coinmarketcp.com site, also the swap feature is enabled on a supported coin like Aave, DAI, and more.
Once you are on the supported coin page the swap feature allows you to directly swap from the same page, the user just needs to click the swap feature and then swap the coin, like below.
Blockchain Explorer On Coinmarketcap.com.
Let's first understand what is Blockchain Explorer, it is just like software or a website that uses API and Nodes of blockchain to collect the user's data, then store that data in a sequence and allow the same to users in a searchable format.
This service provides all details that executed on the Blockchain and this data is open publicly hence it calls a Blockchain explorer that explores all details on a blockchain.
Users just need to make sure that they are on the correct Blockchain that has access to their Blockchain.
Now Blockchain Explorer information can also be found on Coinmarketcap.com. Yes, under Core feature Product there is a sub option available for Blockchain Explorer.
Once you click on Blockchain Explorer, then it will get open on a separate page and allow you to view supported blockchain Explorer.
Currently Blockchain Explorer available for Bitcoin, Ethereum, Litecoin, and Binance Coin, everything on one page.
Here you can select your Blockchain and then it will provide you information that executed on it. It also provide you the search option in which you find directly with the help of address ID, Block ID.
I hope you liked this course as we can see coinmarketcap.com is not just a website for crypto sources and it is a complete package that allows crypto traders/users to get valuable information, also we can directly swap tokens through Uniswap.
This is an Advance level course hence Homework Task has some conditions and you will need to fulfill that, make sure you followed everything before submitting the Homework Task. Make sure that the information should not look like a short view or just as a definition. In the Homework Task, you will be going to explore Coinmarketcap.com in more closely. Expecting to submit the Advance level Homework Task.
Before Start to work on this Homework Task, I will request first you to visit https://coinmarketcap.com/ and review it completely, understand each feature and how they work, get some hands-on experience.
You also need to focus on a presentation while working on a Homework Task, make sure you submit the homework task with a good presentation.
If your homework task does not get visited within 24 hours after your submission, please send the homework task link under the comment section of this course post.
The title for the Homework Task will be in the format, Crypto Academy / Season 3 / Week 2 - Homework Post for [@stream4u] …....
Below are the questions and their conditions on which you need to prepare and submit your Homework Task. conditions are provided in bracket (-) that you no need to mention in the Homework Task.
(1) What Is Coinmarketcap.com? (Minimum 80 words needed)
(2) How Coinmarketcap.com useful for Crypto User/Trader? (Minimum 100 Words needed, the screenshot will be addon according to the mentioned information, make sure to tag yourself in your screenshot)
(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 to tag yourself in your screenshot)
(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 to tag yourself in your screenshot)
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)
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)
(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 to tag yourself in your screenshot)
(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 to tag yourself in your screenshot)
(9) CONCLUSION. (Explain in your words that how was your overall experience and understanding of Coinmarketcap.com?)
Make sure you submit your Homework Task in the Steemit Crypto Academy community.
Users having a reputation of 60 or above, and having a minimum SP of 500(excluding any delegated-in SP) are eligible to partake in this Task.
All information contained in a Homework Task should be your own as plagiarism will not be tolerated.
Use images from copyright-free sources.
Screenshots used in this Homework task should be your own and tagged with your name.
Add me as @stream4u somewhere in your Homework Task.
This homework task will run from 05th July 2021 To 10th July 2021 Till Time- 11:59 PM UTC, make sure to submit before the time ends.
For any concerns, doubts, questions on homework tasks, you can ask me in the comment section below before making Task.