If you’ve been paying attention to the cryptocurrency industry, you’ve probably heard of CoinMarketCap. It is likely the most widely used cryptocurrency market analysis tool.
However, relying too much on a centralized mechanism to monitor bitcoin prices has significant drawbacks. CoinMarketCap chose to modify its price calculation technique and excluded South Korean exchanges from its listings in early 2018, leading the entire market to collapse.
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What we can take away from this is that relying too heavily on a centralized system for price tracking will result in widespread turmoil and confusion in the market. In a powerful decentralized ecosystem, having a centralized platform dominate is never a wise idea.
To that end, I’ve put together a list of the finest CoinMarketCap alternatives for tracking cryptocurrency values.
CoinGecko
CoinGecko, which was founded in April 2014, is one of the world’s largest analytics sites for tracking cryptocurrencies, initial coin offerings (ICOs), and blockchain assets. CoinGecko seems to be quite similar to CoinMarketCap at first sight.
Both offer a basic and clean user experience that displays real-time cryptocurrency prices, market capitalization, graphs, and rankings.
What sets CoinGecko apart from CoinMarketCap is that it considers other crucial aspects like liquidity, developer activity, community, and public interest when ranking currencies.
A thriving altcoin should, as a general rule, have strong community support, high liquidity, and active development participation. If you’re wanting to invest in or trade altcoins, CoinGecko is a good place to start.
CryptoCompare
CryptoCompare, as its name implies, is a fantastic website for comparing, evaluating, and viewing over 1600 cryptocurrencies throughout the world. Established in 2014, when the domain CryptoCompare.com was acquired for 2 BTC.
Charlie and his team spent 9 months building the site from the ground up before releasing it in reality in July 2015. CryptoCompare is now a one-stop-shop for monitoring the most up-to-date streaming values of various cryptocurrencies.
It also includes recent market data such as market capitalization, volume, supply, last deal, and recent news.
Coinlib
Coinlib is a new website for tracking cryptocurrency values, but it’s gaining a lot of traction. Its straightforward layout is very easy to browse and was designed with the needs of the user in mind. Simply turn on the night mode for a better viewing experience at night.
Coinlib offers real-time and historical cryptocurrency values, as well as coin rankings, volume statistics, charts, news, and other sophisticated features. It supports over 2,300 cryptocurrencies (and counting) and fetches trades from over 170 exchange sites to provide you with the most up-to-date cryptocurrency market data.
Coin Ranking
If you’re searching for a cryptocurrency ranking site with a simple and clean user experience that displays only the most significant cryptocurrency parameters, Coin Ranking is a good place to start.
The design of CoinRanking sets it apart from the competition: you can quickly get the information you need. The coin name, price (USD), market cap, and 24-hour change in percentage are the only four columns.
All of the information is provided logically and easily. If you want to learn more about a certain cryptocurrency, simply click on it. After that, you’ll be led to a page with a brief overview of the chosen cryptocurrency, including its market cap, total supply, and circulating supply.
Closing thought
CoinMarketCap has always been a platform that has always stayed on the top when it comes to choosing platforms for digital currency exchange. But for those who want to go for something in this platform’s place, this article has enlisted some other very famous platforms that are the best alternatives in place of CoinMarketCap.