Crypto Academy | Season 3 - Week 2 - Homework Post for @stream4u

INTRODUCTION

Information is very vital in crypto ecosystem since the cryptocurrency have volatility nature. And one of the ways to maximize profits in crypto space is to get more knowledge and understanding about Cryptocurrencies.

However, CoinMarketCap provide lots of information about Cryptocurrencies and it's very easy to access since there's no fees attached before getting any information. Making trade decision requires much information for proper guide, which CMC can provide.

WHAT IS COINMARKETCAP

Coinmarketcap can be refers as a website where relevant market information about Cryptocurrencies. It's one of the most price tracking website that provides vital information about Cryptocurrencies such as market capitalization, price charts, market dominance, exchange listings, prices, news, circulating supplies, assets' market dominance, and so on.

As a result of these accurate and reliable information it provides to it's users, it has grown rapidly to be among the best price tracking website. In crypto traders and investors use the data to make some trading decisions. However, a big credit goes to the founder Brandon Chez, a New York, United States based programmer who created CMC in May 2013, to serves as multi-purpose used in this era of crypto.

HOW IS COINMARKETCAP.COM USEFUL TO THE CRYPTO USER/TRADER.

Just as I said earlier that CoinMarketCap.com serves as multi-purpose use to the trader. It's importance can't be overemphasized because it's reliable information.

Trust market data on crypto assets

There are lots of information

On CoinMarketCap about any crypto assets, which a trader can obtained without paying any dues. A trader can obtained data about an asset like Price, Price Change trading volume, market Dominance, market rank, fully diluted market Cap, Maximum supply, total supply, circulating supply, all time high and low. All these serves as an important information to a trader which can be used for fundamentalal analysis.

Prices: On CoinMarketCap, all the prices for each crypto asset is very easier to access and there is always consistence update after every 5 minutes.

7-day price chart of an asset

Another important data it gives to users is that it provides 7-day price chart of assets which can be used to know the price movements. And when analysed, can be used to make trading decisions.

Cryptocurrencies Ranking

It very important for a trader to know the rank of assets to be invested because it is suitable to Invest on top coins that can be ranked from 1-10. Well from 11 goes down is ok but involve much risks. Coinmarketcap provides data about coin rank. We can see from our image above that Dogecoin is ranked 7.

Volume

Trader can see trading volume here in coinmarketcap which will really serves as a great importance since the volume tells us what's happening in the market. However, the website provide the volume traded on these assests within the past 24 hrs.

performance of coins per time

Knowing each coin performance per time is very important because it tells when a coin is rising and falling. It indicates green and red when the coin is rising and falling respectively. The website provides the percentage change of each coin over 24 hrs and 7 days due to the volatility nature of coins.

Supply

Its very essential to know the supply of an assets before investing on it. And one can see the supply of assets here such as Maximum supply, total supply, and circulating supply. Max. Supply entails the total amount of the coin created by the company. Circulating supply is the number of the coins that are circulating present in the market. The number of the coin to exist is called the total supply.

THE INDIVIDUAL PAGE OF EACH CRYPTO ASSET ON COINMARKETCAP

There are lots of information provided about each coin in this website. Below I will be explaining the vital information.

,## Details on the coin price
Click on any coin of your choice here, there you will see more details about the coin. One individual coin I will be discussing on is Dogecoin. Below are the following information on Dogecoin provided in this website.

Overview of Dogecoin

A trader can obtained data about an asset like Price, Price Change trading volume, market Dominance, market rank, fully diluted market Cap, Maximum supply, total supply, circulating supply, all time high and low. All these serves as an important information to a trader which can be used for fundamentalal analysis.

Market

Holding of coins like Dogecoin , BTC, ETH and so is good but another important is to find out the market where it can be sold or bought. CMC can give you that information where each coin can be traded and the available coin pair of each market exchange.

Price estimate of Dogecoin

Here is the social price estimate of Dogecoin and is featured by the beta testing. Any users can place their price estimate and others user will comment about it within the next 6 months. Although, the estimate has a cut-off for each month end which is on each 21st of the month.

Analysis of Dogecoin

It's always good to check on the analysis of any assets because there's where the total summary of the coin can be seen. Coinmarketcap provides such information on the on-chain metrics regarding the state state of the coin. You can see from the image the token summary of Dogecoin and some holders that's making money presently with the recent price is shown and the Concentration by Large Holders.

Rating

Not only the analysis and price estimate are shown here. We can see another information about Dogecoin called rating. Third party organizations are the ones that calculate and they are not influenced by CoinMarketCap in any way. and are not influenced by CoinMarketCap in any way. And the fundamental crypto asset score is based on 3 good factors which are User Activity , Developer Behavior and market Maturity.

News

Here are the latest news about Dogecoin. As we can see from the image what Elon Musk said about Dogecoin and it's relevant to check on new about coins because some news places a role in crypto market . It can be negative or positive news about a coin , any affect the price movement of some coins

Wallet

Here the coinmarketcap show users the providers sin order for the userrs to be informed on wallet choice like Trustwallet to hold and their coins like Dogecoin, BTC,ETH.

Holders

Here are the total number of unique top holder of DOGE in the network and below you can see their addresses by balance.

Historical Data

Having knowledge about the Historical Data of a coin is very important because it enables the traders to the previous price when the asset open, low, high and close. For those who don't know how to study the candlesticks, here you can see where the market open and close in coinmarketcap.
From the image you can see the Historical Data of Dogecoin.

Explain in detail any 5, what are the CORE Features and Sub Features available on Coinmarketcap.com?

Cryptocurrencies

This feature is amazing as it entails all information about cryptocurrencies, the coins, there market information, Volume24h, rating, etc. It consist of good number of sub-features about the cryptocurrencies.

Calendar

That is exactly what this core feature is all about. It outlines the schedule of activities related to crypto and known to the website. It has three sub features - ICO calendar, free airdrops, and events calendar.

Spot

Spot is a sub-feature that provides information to users about the best cryptocurrency exchange based on the
volume(24h), average liquidity, weekly visits, markets, and coins.

Exchanges

Here the user will obtain information about the best Cryptocurrency exchange reliable for trading. Some sub-features which are as follows spot, derivatives, DEX, and where to buy.

Ranking

This feature ranks the coins in descending or ascending order. The top coins like BTC, ETH, LITCOIN, BNB, are on the ascending order, while other penny coins are on the descending order. Ranking is based on the circulating supply, market Cap, Volume24h,

How or when Coinmarketcap.com decides to list a Coin?

CoinMarketCap have really prove to be a relevant website not only on the accurate information about Cryptocurrencies but also have unique way of allowing their users to apply for a coin to be listed which is via online submission form. The online submission of form is the only way and other means of applying is not allowed. Well this is to prevent users from being scam.

However, before a crypto asset will be listed, there will be an online submission of form and that should be applied rightly. For instance, new crypto coins must be submitted to the Add new crypto asset section of the form. And the reasons for the assets to be listed will be stated in the application with attached evidence. Then the project will be reviewed by the team.

Let's check out the CoinMarketCap listing criteria;

Inactive Listing

Project is consider to be in an inactive listing when it doesn't have any market data supported from at least any of the CoinMarketCap exchanges. But once support any of the tracking exchanges, it can then be reactivated

Unverified Listing

In this aspect, it entails project from automated processes, but is not yet verified by the Coinmarketcap.

Untracked Listing

Project that fails to meet up the criteria as stated by the CoinMarketCap regarding tracking of market data, but exhibit strength when it comes for evaluation of framework. That's meet some of the CoinMarketCap track listing criteria.

Tracked Listing

Here is when projects meet up some available criteria stated by the CoinMarketCap, is then said to be tracked listing.

Only coins that are tracked listing can be considered to be listed. And any coin that fails to meet up the tracked listing criteria of the CMC, will not be list, as such can be listed in untracked listings.

In order for Coin to be listed, the following are needed effective and functional website and a block explorer without a valid block explorer & functional website, initiation of coin can not be achieved. The work of the block Explorers is to keep the block data save and accessable to users so it is really vital.

It could also have a smart contract, consensus algorithms, leveraged cryptography, adopting peer-to-peer technology and Dapps/Smart contracts that can function as means of exchange to the user. The coin must be traded actively at least on any exchange with tracked listing on CoinMarketCap. Also any Coin must provide a valid representative for their project so that the CMC teams will get in contact with the representative for clarification.

These information are gotten from CoinMarketCap

How or when Coinmarketcap.com decides to list an Exchange?

Just as mentioned above about how a coin can be listed, so let's check out the available criteria for an exchange to be listed. Application is required here as well and must be submitted to the right section. For instance, (New listing) add exchange. The application should be well structured with good evidence.

Recall, the four listing levels mentioned above is also in abide to exchanges. Well an exchange are to be considered for tracked listing with the following reasons; and
These information are gotten from CoinMarketCap

For an exchange to be considered for tracked listing, it must allow the traders to trade on order books except if it's a DEX which the order book should allow traders not to log in to the exchange. A functional website that correspond its API endpoint with the trading volume, as such must show the API endpoint of the last price and 24h trading volume of every crypto coin. Also the Coins of the exchange must have direct URLs.

The exchange must provide a valid representative so as the CoinMarketCap teams can be in touch. The existing number of years that project counts, so th exchange must be active for at least 60 days for it to be listed. Exchanges must include a variable for type of the market that spot trading, futures trading, swapping, so as to distinguish them from derivatives.

THE PURPOSE OF UNISWAP ON COINMARKETCAP AND ITS USAGE

Coinmarketcap have made things more easier for users who want to swap their ERC-20 tokens for another ERC-20 token directly from the website by initiating a decentralized exchange called Uniswap. However, the purpose of Uniswap on CoinMarketCap is to facilitate transaction of ERC-20 tokens for another ERC-20 token which have made the website more effective and functional.

Furthermore, I will be explaining how to make use of Uniswap on CoinMarketCap on Android. To understand it better on the mobile phone, the browser have to be in desktop view in order to identify see the "swap".

• Click on the swap button

• Once it gets loaded, click on the Connect wallet.

• Choose install Metamask.

• Then Click on download button on this page.

• Go down to the page, Click on install Metamask for Android.

• I already have Metamask on my Android which have made it easier for me. Now the link have been Opened the Metamask.

• To proceed, Click on the X button to close this page.

• Choose the token you want to swap from and to. Then put the amount you desire to swap. For instance, suppose I have UNI in my wallet, and I want to swap 209 UNI to ETH. I will input the 209.

• Then click on get quotes button

• Then the specific quotes on what you input will be shown. 209 UNI came out 2.01374 ETH.

• To proceed further, you can swipe the button below. But I don't have any 209 UNI, so I couldn't proceed furthermore.

What is a blockchain explorer?

BlockChain Explorer is a search engine of blockchain that uses API and node of blockchain to get users data, arranged them and store them in a database where users can search and access them. The blockchain explorer is initiated to provide information about a crypto related transactions done on a particular wallet which a user can access to know transactions that's confirm or unconfirmed.

How many Blockchain Explorer available on Coinmarketcap & How it helps users?

Basically, CoinMarketCap have four blockchain explorer which are Bitcoin chain, Etherum chain, Litcoin Chain, and Binance chain. And all these chains are the top cryptocurrencies in the crypto market.

However, the help of these chains is to enable the users to explore if their transactions went successful or confirmed. It also pass information about the total transactions done in a specific timeframe, as well as to show some vital information like Transactions Per Second(TPS), coin supply and market cap. about the blockchain.

Therefore, I will show the steps on how to use CMC Blockchain explorer to view the details of any transaction.

• Scroll down for Android users, until you see the 'product' feature. Click on the 'blockchain explorer'.

• Then on this page, click on the search dropdown or you can click on any of the 4 blockchain explorer. Here I selected the Etherum.

• Click on the block hash code
  

• Now we can see the details of the block data and the market data done by this blockchain explorer. Some of the block data are;

Hash ID 0x028ad80bc3c4f7026efbdb87ef441e8b207cf3c5c81ef0671351b847385acb1e

Block height 12,800,067

Hashrate of 512.20 Th/s

Amount Transacted 34.41 ETH ($72,258.06

Transactions 178

Date and Time 2021-07-10 15:01:10

Confirmations 10

• To see Transaction details click on the Transaction hash code.

• From this image you can see the details of transaction done by the blockchain explorer. We have

Total Transactions: 178

Transaction hash 0xe5266f41d7926506cfa062825c2ae32a637e65d71848acfad04310ab3f1f8f6d

These are the summary details that can be find from the blockchain explorer.
Hash ID, Amount Transacted, Block Height, Time Received, Fees, Confirmations, Size, Address involved in the transaction, Market Cap, Hashrate, Circulating Supply, Max Supply, Block Height, Total Transactions, Transactions Per Second(24hr).

CONCLUSION

CoinMarketCap is a relevant website where information about Cryptocurrencies can be obtained, which traders use for fundamental analysis and for other purposes. It is ideal to check on this website most especially the beginner traders because it will give you some details about coins both there current prices and the news surrounding them before making trade decision.

Thanks for reading through

Cc: @stream4u