Infokekinian.com – Following is information regarding the functions and uses of Coin Market Cap, traders must know this. So see this article to the end to find out more complete and clear information.
Of course, traders are familiar with the term CoinMarket Cap and MarketCapital. CMC is a site where digital asset (cryptocurrency) players go to collect information about crypto coins.
Coin market cap is a website that displays in real time the price movements of all listed digital assets (worldwide). Currently, there are 22.96 coins listed on CMC (June 2019).
This coin is still outperformed by bitcoin, which is also the parent coin, despite being in the top spot.
It will be easy to compare exchange rates for each crypto using this coin (digital asset) market cap. For example, you can convert bitcoin to etherium or DDkoin.
CMC is an important aspect for traders when buying or selling digital assets. It is easy to predict whether to trade or hold each coin by looking at its movement charts.
Functions of Coin Market Cap
At least, there are several functions of the coin market cap that can be useful for a trader:
1. Shows Real Time Prices, Volume, Supply and Change of Each Digital Asset
The coin market cap shows the price of each digital asset in real time. All coins that have been registered with CMC can easily see the price.
It also clearly shows the volume of transactions for digital assets. How many digital assets are traded per day, per month, and as a whole.
This encourages interest among users to buy and sell, due to the high volume of transactions. Then there is supply information for each coin.
Just how many more coins will be distributed. Usually, if the supply is less, the price trend of a coin will increase.
And that makes traders don't want to be left behind to hold. Then there is change, which is manifested in a graph and ups and downs in the form of a percentage. For example, the percentage increase of BTC in USD or BCT in DDKoin.
2. Shows Number of Registered Coins
CMC lists coins ranging from ones that are loved by a lot of people to coins with little interest or from popular coins to coins that not many people know about.
The number of digital assets continues to grow, as of August 2016 there were 690 coins and now the number has reached 2296 digital assets
3. Ranking Digital Assets Based on Their Popularity
There are already quite a lot of digital assets that can be seen on the coin market cap. Based on the ranking, CMC is sorted based on the volume of market capital.
Bitcoin is in first place with the largest market capital and also currently has the highest price.
There is also a coin in the third order, namely Ripple, with a large volume, although the price is still lower than some of the coins in the order below.
4. Inform Various Events Related to Digital Assets
The coin market cap is a place for information on various coins, even including the official web link for the coin.
So that users can continue to learn more deeply by visiting the link.
Many events that will be held by each founder and management are included in CMC.
Starting from new coins that will be registered, sometimes it contains challenges, meetups or meetings at certain places to discuss cryptocurrencies.
That's a little information about some of the functions of the coin market cap which also has a requirement for new coins to have at least 2 exchangers, so they can be synchronized on CMC.
All coins wish very big to be on CMC to be popular. That way, the demand will increase which will then have an effect as a pump (price increase) on the digital asset.
Thus the article regarding the Functions and Uses of Coin Market Cap, Traders Must Know This and don't forget to continue to visit the Infokekinian website.
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