CoinMarketCap is a website that many cryptocurrency investors have become familiar with. For newcomers entering this market, understanding how to use CoinMarketCap and the metrics within this website is crucial. In this article, tonraffles will guide newcomers on how to use CoinMarketCap.
Table of Contents
What is CoinMarketCap ?
CoinMarketCap (CMC) is a cryptocurrency website established in 2013 with the purpose of allowing users to track information on over 2 million cryptocurrencies. The website quickly gained popularity and became the primary reference source for cryptocurrency investors and was acquired by Binance in 2020.
CoinMarketCap is like a dictionary containing information on all types of cryptocurrencies, with data continuously updated for convenient tracking. With CoinMarketCap, you can view a wide range of information such as price fluctuations of cryptocurrencies, total supply, trading volume over different time frames, information about official websites, and social media accounts of specific cryptocurrencies.
Benefits of using CoinMarketCap
Real-time market information
CoinMarketCap provides information about prices, price charts, and other metrics for most cryptocurrencies on the market. This helps users stay updated with real-time market conditions to make trading decisions.
Comprehensive information
CoinMarketCap provides comprehensive information about a cryptocurrency project, including its website, token information, exchanges trading the token, etc. This helps users grasp the necessary information about the tokens they are interested in.
High accuracy
CoinMarketCap utilizes data from various major cryptocurrency exchanges worldwide, enabling users to comprehensively and accurately track the market. Moreover, using data from these exchanges helps CoinMarketCap save users’ time as they don’t have to check token prices on each specific exchange.
Guide to using CoinMarketCap for beginners
Guide to viewing metrics on the homepage
You can access the CoinMarketCap homepage by clicking on the following link: coinmarketcap.com. On the homepage interface, there are sections you should pay attention to, such as:
(1) Market overview, including the following metrics:
Crypto: The number of cryptocurrency projects currently in the market, which is currently over 2 million. Exchange: The number of centralized exchanges (CEX) currently in the market. 24h Vol: Market trading volume in the last 24 hours. BTC Dominance: Bitcoin’s market capitalization dominance over the total market. Gwei: Current gas fee on the Ethereum blockchain.
(2) Features of CoinMarketCap:
Cryptocurrencies: Allows you to view information including cryptocurrency project rankings, newly added tokens, list of categories, etc. Exchanges: Information about exchanges, including spot, DEX, and derivatives. Community: A place for the community to share information related to cryptocurrencies. Products: Where you can find CoinMarketCap products such as token price converter, blockchain explorer, Telegram bot, market event calendar, etc. Learn: This section provides cryptocurrency market-related knowledge from basic to advanced.
(3): Newly added tokens by CoinMarketCap, you can click on More to see more. Additionally, this section also lists tokens that have increased in price in the past 24 hours.
(4): List of top community leaders on CoinMarketCap.
(5): Fear and Greed Index, which reflects investors’ sentiment towards the market.
(6): List of categories that are increasing in price.
(7): Ranking table of coins by market capitalization from high to low.
Guide to viewing detailed information of a project
To view information about a project, you can enter the project name in the Search bar or directly select it from the project ranking table. Some basic information you should pay attention to includes:
(1): Project name and coin/token symbol (Here the project is called Ethereum and the symbol is ETH).
(2): Coin/token price.
(3): Information about market capitalization, 24-hour volume, total token supply, circulating supply, and fully diluted market capitalization.
(4): Contract address of the coin/token on various blockchains.
(5): Official websites of the project.
(6): Social media accounts of the project.
(7): Includes the following sections:
Chart: Price chart of the project.
Market: Exchanges listing the coin/token.
News: News related to the project.
About: Introduction to the project.
Analytics: Project analysis data.
Guide to creating a watchlist for projects
To create a watchlist, you first need to register a CoinMarketCap account.
Step 1: On the CoinMarketCap homepage, click on Sign up (if you don’t have an account) or Log in (if you already have an account).
Step 2: Enter your email address and password, then click Create an account to create an account. Alternatively, you can register an account using other methods such as using Google, Apple, Binance accounts, or using your personal wallet.
Step 3: After creating a CoinMarketCap account, find the project you are interested in by using the search bar or searching on the project ranking table. Then click on the star icon next to the project name.
Step 4: To view your watchlist, click on Watchlist, where all the projects you have added will be displayed, allowing you to quickly and conveniently track them. Additionally, you can customize the metrics to track or add new tokens under the New asset and Customize sections.
Summary Above is the complete guide from Tonraffles on what Coinmarketcap is to track cryptocurrency projects and market
