What is CoinMarketCap? All the things you need to know
- 1. What is CoinMarketCap?
- 2. Why use CoinMarketCap?
- 3. Special Highlights of CoinMarketCap
- 4. CoinMarketCap account registration instructions
- 4.1 Instructions on how to view CoinMarketCap
- 4.2 Information on the homepage
- 4.3 Info of token
- 5. Important indicators on CoinMarketCap that traders need to pay attention to
- 5.1 Dominance
- 5.2 Market Cap
- 5.3 Fully Diluted Market Cap
- 5.4 Volume 24H
- 5.5 Circulating Supply
- 6. Latest CoinMarketCap Updates
- 6.1 Polka Dot Parachains
- 6.2 Swap
- 6.3 Legal Tender Countries
- 6.4 Learn Crypto Event - Earn Crypto
- 7. Frequently asked questions about CoinMarketCap
What is CoinMarketCap? Are you having a hard time learning and using crypto apps? Do you encounter many terms that make you struggle to find information? So what is the definition of CoinMarketCap? What are the advantages and applications? Let’s find out with BHO Network in the article below!
1. What is CoinMarketCap?
CoinMarketCap is known as one of the websites for many people to refer to track the prices of tokens on the world market. Besides, CoinMarketCap helps you update and aggregate information regularly about market capitalization, tokens, or even projects on the market.
CoinMarketCap is a site that appeared quite early on the crypto market, which many investors widely use. CoinMarketCap wishes to bring users applications with various features.
Since its beginning, CoinMarketCap has constantly developed and exploited more features and services needed to support the crypto market. It has an intuitive interface design with full functions for you to use.
2. Why use CoinMarketCap?
Surely now you know the definition of CoinMarketCap? But you may not know why so many people like to use CoinMarketCap. Or even many of you still do not fully understand the use of this application.
As mentioned above, CoinMarketCap keeps you up to date with all the information about the crypto market. However, you should know that when participating in this market, you must watch Token fluctuations regularly because this market has many changes or fluctuations you cannot predict. Moreover, this application helps you update news with all necessary data.
All of you who have been, are, or have just started participating in the crypto market should use the CoinMarketCap application because this app helps you not miss any events and supports you in making the best decision.
3. Special Highlights of CoinMarketCap
CoinMarketCap is not only known for its application with its simple, easy-to-use interface. Or provide various services to optimize the process of searching and exchanging Tokens on the market. But CoinMarketCap also has many outstanding features that make this application different and more reliable than some other applications, as follows:
Provide the number of transactions of each token over 24 hours.
Shows the day’s value change as a percentage.
Regularly report the total amount of Tokens being used in the market.
It’s the official application page many people use on social networking sites.
You can search or view the total crypto market cap.
4. CoinMarketCap account registration instructions
For those new to CoinMarketCap, you may be quite surprised and not fully exploit the content of this application. To register an account, you first need to log in to CoinMarketCap’s website and select the register or sign up button in the right corner of the screen.
Then you need to log in using the email and password. The website will display the information sheet you need to complete the necessary content and click complete. Finally, you need to confirm the account activation in your Gmail/email to complete the registration procedure.
4.1 Instructions on how to view CoinMarketCap
When you log in to the CoinMarketCap website, you need to take a brief overview of the website to understand the primary information. As for how to view CoinMarketCap, you need to know how to view information on the homepage and how to view information about any type of token.
4.2 Information on the homepage
To fully understand the information on the homepage, we will help you to analyze each item on the toolbar of the website below:
Cryptos: Information displayed in this section indicates the number of tokens being circulated and listed on the website.
Transactions (Exchanges): Show all number of transactions in the crypto market.
Market Cap: Displays the total market capitalization up to this point.
24h volume (24h Vol): The coin/token trading volume within 24h.
Domination: Includes BTC and ETH. BTC is the token’s dominance in the market. ETH is the total gas fee for mining Ethereum on the Blockchain market.
Cryptocurrency: The list displays information on all types of tokens. Including token rankings, recently added Token types, global categories, or charts.
Exchanges: A place to aggregate buying points or exchanges. Includes Spot, Derivatives (derivatives), Dex.
NFT: A summary of projects in the NFT market.
Products: Summary of products on CoinMarketCap.
Learn: Provide knowledge about cryptocurrencies and update the market for your reference.
Portfolio: Helps you keep track of investment items and profit or loss.
Calendars: Announcement of market events.
24h%: The price volatility within 24 hours.
7d%: Volatility rate within the last seven days.
Last 7 days: The map represents the token’s volatility over the past seven days.
4.3 Info of token
Token information: Cryptocurrency name, symbol, ranking position by market capitalization token owned, quantity added to the watchlist.
Shows the price as well as the fluctuations of the token including: The recent token price, the percentage of change, the high and the low price according to the custom time.
Some basic Token information such as: Buy, trade, game, how to earn tokens.
Some general information you need to know: Website, transaction discovery page, social network community, token overview.
Area of Token’s data: Marketcap at the time you are viewing, the capitalization value when the token is exhausted, the volume of tokens in the day, or the number of tokens in circulation.
Some optional orders: chart overview of token’s price (overview), trading markets (market), historical database (historical data). Or some other commands such as token ownership statistics, e-wallets, news updates, and social network activities.
5. Important indicators on CoinMarketCap that traders need to pay attention to
These indicators help you better understand the platform. Some important metrics are dominance, market cap, fully diluted market cap, 24h volume, and circulating supply.
Dominance is the percentage of Bitcoin dominance over the entire market. Given the frequent volatility of the market, low dominance means small cryptocurrencies. Therefore attracting more investors to participate in this project.
5.2 Market Cap
Now you know Market Cap is a place to help you track and aggregate the market value of cryptocurrencies. The method to calculate the total value is to multiply the token’s price by the number of distribution sources circulating in the market.
5.3 Fully Diluted Market Cap
Fully Diluted Market Cap is known as the market cap but is diluted. This helps you to see the market capitalization with the maximum supply of tokens. However, you need to be aware that almost all the supply in the market has not reached the maximum.
5.4 Volume 24H
You need to pay close attention to this indicator because this index gives you information about the number of cryptocurrencies traded within the last 24 hours.
5.5 Circulating Supply
It is one of the circulating supply of tokens in the market. Through these projects, you can know the original distributor or the amount of tokens removed from the address. Circulating Supply gives you a way to evaluate giving you an approximate Token value or accounting for a percentage.
6. Latest CoinMarketCap Updates
Some updates on new features on the CoinMarketCap app are
6.1 Polka Dot Parachains
Polka Dot Parachains is one of the recently improved functions. It is a Parachains auction service on the Polka Dot service. However, this function is not yet widely used. But shortly, the auction of Parachains will become necessary.
Swap is also a new feature that CoinMarketCap updates. With this function, you can exchange tokens directly on CoinMarketCap. This gives you many benefits when using this application.
6.3 Legal Tender Countries
Legal Tender Countries is the information of countries that allow payment in BTC. So, if you want to learn about the countries that are allowed to pay with BTC, you must check out this category.
6.4 Learn Crypto Event - Earn Crypto
Learn Crypto Event - Earn Crypto allows users to receive Tokens through completing required tasks. These tasks often involve watching videos, answering questions, and taking tests.
7. Frequently asked questions about CoinMarketCap
When using CoinMarketCap you inevitably have some questions about this application. We have compiled some of the most frequently asked questions on the website.
What should I know when viewing CoinMarketCap?
You should know the six important indicators above to help you use the application more effectively. Besides, you need to understand the fluctuations and update the events of tokens.
How to calculate the capitalization of Tokens?
In the above section, you probably already know briefly about the formula for calculating the capitalization of Tokens, with the following formula: Market Cap = Price x circulating supply.
What are the features of CoinMarketCap?
In order to provide a convenient application for users, CoinMarketCap is constantly improving its features. Some outstanding features include phone app support, swap, Polka Dot parachains, etc.
Does CoinMarketCap website support Vietnamese language conversion? The website has a directory that supports switching change languages with various vocabularies used worldwide, including Vietnamese.
We have found out the answer to the question of what is CoinMarketCap? As well as its features. We hope these will help you understand the CoinMarketCap application. Thank you for following this article of BHO Network. Stay tuned for more crypto news.
Published on August 09, 2022
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