Cryptocurrency price today: Major crypto coins by market capitalization received beating on US Fed’s hawkish stance on interest rate hike in upcoming US Fed meeting on 2-3 May 2022. Among top 10 cryptocurrencies Bitcoin, Ethereum, Solana, Shiba Inu, Dogecoin, etc. received heavy beating in last 24 hours losing up to 4 per cent in this period.
What is Coinmarketcap.com?
According to their website, CoinMarketCap is the world’s most-referenced price-tracking website for crypto assets in the rapidly growing cryptocurrency space. Its mission is to make crypto discoverable and efficient globally by empowering retail users with unbiased, high quality and accurate information for drawing their own informed conclusions.
Since its launch in 2013, CoinMarketCap has become one of the most powerful websites in the cryptocurrency space, being one of the most visited sites in the industry and a premier source of cryptocurrency market data.
The influence of the site became apparent when founder Brandon Chez, who has remained remarkably low-profile despite an attempted doxing by The Wall Street Journal, delisted South Korean exchanges from CoinMarketCap without warning in January 2018, triggering a temporary $100 billion drop in the total cryptocurrency market value.
CoinMarketCap has since focused on bringing more transparency and accountability to market data aggregation from exchanges and cryptocurrency networks through its Data Accountability and Transparency Alliance.
Who is the owner of CoinMarketCap?
CoinMarketCap is owned by Binance Holdings Limited, which is currently the largest cryptocurrency exchange in the world.
Can you trade on CoinMarketCap?
No, you can not trade on CoinMarketCap. CoinMarketCap reports on the trading activities of thousands of markets but does not directly sell any cryptocurrency.
Understanding How to Use CoinMarketCap.Com
First off, the main page to look at is the Cryptocurrency Market Capitalizations of All Cryptocurrencies (the home page).
This page lists the market cap, price, volume, supply, 24-hour price change, and a graph of that price over 24 hours.
- Market cap is total coins in circulation plus the current market price.
- Price is… the current average market price across exchanges.
- Volume is how much of a coin was traded in the past 24 hours.
- Supply is how many are in existence (multiply that by the price, and you get the market cap).
When you look at a coin, you want to look at market cap for an overview of its value (because this number avoids having the deal with figuring out not just the value of a coin, but the value of a coin compared to how many there are total circulating).
Price is rather self-explanatory, good when it goes up to sell, good when it goes down to buy.
Supply gives you an idea of how limited the current supply is (but not how many can be created in total, you need to research that per coin).
The 24-hour volume and change tell you about how the coin is performing now. Is it in a dip? Is volume lower than it usually is? These metrics can help you time buys and sells.
Lastly, the chart below that is volume.
If the volume is high and market cap is growing on average, the coin is doing well. Meanwhile, you should expect all coins to be down compared to Bitcoin (for the time being).
A further piece of information that you might wish to know is that the tabs above the chart on a given coin’s page on a given coin’s page shows social media buzz and what exchanges it is traded on (under the markets tab). It also shows what crypto pairs you can trade (like ETH/BTC or ETH/USD).
Other information on the site should be easy to figure out with a little bit of work once you know these basics.
I’ll consider adding more information to this page, but for now, I thought it was important to explain the essentials (as it can be confusing to see all those lines and numbers and not understand what they mean).