Coinmarketcap 101: What Is Coinmarketcap And How Does It Work?

Coinmarketcap is the authority when it comes to tracking cryptocurrency prices in real-time. Since its inception in May 2013, it’s become one of the best-known brands in the rapidly-growing crypto-space.

The website and smartphone apps want to make cryptocurrencies discoverable to all. And to empower everyday investors with factual information that’s always accurate and always of the highest quality.

Coinmarketcap remains one of the most trusted sources for retail investors, institutions, and media when it comes to comparing the prices of crypto-assets.

Our native cryptocurrency EUM currently sits in the top 6% of all CMC-listed assets.

How Does Coinmarketcap Work?

Coinmarketcap collates real-time information from a variety of sources to provide accurate price information on verified crypto-assets.

It scrapes details like price, trading volume, market capitalization, and circulating supplies from trusted global exchanges and presents the information in a timely, unbiased, and easy-to-interpret way.

The platform operated as an independent entity for almost seven years.

However, in April 2020, Binance — the world’s largest digital asset exchange by trading volume and users — acquired Coinmarketcap.

Binance has committed to keeping CMC as a standalone entity, only using its extensive resources to provide the platform with more in-depth project data to reduce asymmetry between resources. Binance suggests this will deliver even higher quality data to Coinmarketcap’s millions of users.

Still, the change in ownership may encourage some users to look elsewhere for entirely independent price information.

Where Else Can You Find Crypto Price Information?

If you think Binance’s acquisition of Coinmarketcap reduces its independence, there are plenty of other resources you can use for cryptocurrency price information.

Here are our four favorite coinmarketcap alternatives:

  • Coingecko uses several criteria to rank cryptocurrencies, including developer activity, community, liquidity, market capitalization, and public interest — and the range makes it a popular alternative to Coinmarketcap
  • Live Coin Watch is relatively new to the game but people like the fact it feels very similar Coinmarketcap, so it’s perfect for those looking for the familiar CMC feel on an entirely independent site
  • Crypto Compare lets you filter coins by features, including proof-type and algorithm, while the forum-like commenting system gives you direct insight into the public sentiment towards a coin
  • Coincodex is beginner-friendly, yet still offers plenty of coverage for more advanced users — while many crypto-stalwarts follow Coincodex on Twitter as a source of information on emerging altcoins

Did you know you can also track the price of EUM straight from the Elitium Dashboard? You can even use it to buy EUM with your credit card.

What are you waiting for? Create your Elitium account today.

Track the price of EUM in the Elitium Dashboard: create your account today.