A brand new slate of offerings being unveiled this week shows why CoinMarketCap is a popular listing service showing crypto values and more.
As of this week, CoinMarketCap is releasing a new version of its application for Apple and Android with new functionality for crypto research.
Traders will be able to utilize candlestick charts and historical data for closer inspection of price trends. Another new feature will be price alerts that will allow traders to ‘set it and forget it’ until CoinMarketCap notifies them when a given crypto asset has reached a trigger price.
In some ways, CoinMarketCap is a one-stop shop for traders who want to crunch the numbers on crypto coins as well as derivatives markets – the professional app tracks futures options and other derivatives, including over the counter trades for a monthly member fee.
“In order to use the app, users will have to make a CoinMarketCap account and log in,” writes Molly Jane Zuckerman at Cointelegraph this morning. “The app will also allow users to follow news from various media outlets, as well as compare cryptocurrency prices with other cryptos.”
CoinMarketCap isn’t an exchange, per se – it’s a data site. But it’s one that gets a lot of attention in the crypto world, and it does provide comprehensive information on top cryptocurrencies like Bitcoin, Ethereum, Litecoin, Ripple and Bitcoin cash.
Although CoinMarketCap also widely tracks exchange data, there are various omissions – for instance, a recent interview with BitMex CEO Arthur Hayes led to coverage showing that as a derivatives-only platform, BitMex is not part of what CoinMarketCap tracks in terms of price and volume averages for Bitcoin.
Other absences include OKB, which is tracked on Coingecko and other sites.
“OKB is a global utility token issued by OK Blockchain, it is currently trading on OKEx,” wrote StarKay last summer at Bitcointalk. “According to coincodex.com, OKB’s price is $3.73 at the time of writing this with a circulating supply of 600million tokens making it to have a Market cap of $2.24billion. If it were on Coinmarketcap.com it will be ranked on number 12 above Monero(XMR). Does anyone have answer to why it is not listed?”
Regardless, CoinMarketCap is a real clearing house for crypto information. If you’re not using it, it might be worth a visit to see how this kind of tracking can inform your portfolio.