How well do you know: CoinMarketCap? (A detailed Bit Brain guide) Part 2

in #cryptocurrency6 years ago

The coin page

This guide continues from where Part 1 left off. You can find Part 1 here: https://mentormarket.io/cryptocurrency/@bitbrain/how-well-do-you-know-coinmarketcap-a-detailed-bit-brain-guide

As I mentioned yesterday, I am still healing from some kind of arm injury of unknown origin. It's starting to get better, but I overdid things with last night's post, making my injury worse again. So this will be a very short post. Since I did the home page last time, I decided to do the next most common CMC page: a coin page.

The basics have already been discussed and will not be covered again. This will be slightly higher level, but hopefully still easily understandable. If necessary refer back to Part 1.

How well do you know: CoinMarketCap? (A detailed Bit Brain guide) Part 2

This is a CMC coin page:

Screenshot_1b.png

The sections inside the yellow rectangles have already been dealt with. I picked Ethereum because it is probably the best known altcoin.

Let's look at the top half of the page:

Screenshot_2.png

Starting with the left-hand column:

  • The coin name and ticker are obvious. Or maybe not. I would argue that this page should actually be titled "Ether". 10 Bit Brain points to you if you know the difference between Ethereum and Ether. The first person to explain it correctly in the comments will get a warm fuzzy feeling inside them when I reply to their comment and tell everyone that they were right.
  • "Rank 2" is the coin's market cap position on CMC.
  • "Website" takes you to the homepage of the coin. Some coins have more than one e.g. VeChain Thor: https://coinmarketcap.com/currencies/vechain/
  • "Announcement" links to the introductory announcement of the coin on Bitcoin Forum ( www.bitcointalk.org )
  • "Explorer" takes you to a blockchain explorer for that coin. Some coins have multiple explorers.
  • "Message board" and "Chat" I have never needed to click before tonight. They take you to a coin specific message board and chat respectively. I have no experience with either of the particular ones that Ethereum linked me to, so I will comment on them no further.
  • "Source Code" links to the source code of the coin. So far every coin I have seen has been on GitHub. I expect this to perhaps slowly change now that Microsoft has meddled with affairs.
  • "Coin" means that it is a coin with its own blockchain, as opposed to a token. Tokens say "Token".
  • "Mineable" means that you can mine the coin with a PC, ASICs, GPUs etc.

The middle section starts with coin price. Usually this is in BTC and USD. Many tokens also show price in a coin like ETH or NEO if applicable. The percentages in brackets are the 24h price changes.

Market cap is the price of the coin multiplied by the total number of coins in circulation. Volume is the amount traded within the last 24 hours. Circulation Supply is the number of coins in circulation. Total Supply (Ethereum does not have it) is the maximum number of coins or tokens that can be created. Bonus 10 Bit Brain points and extra warm fuzzy feeling: Why does Ethereum not have a Total Supply?

Note that CMC does not normally count outlier activity towards any of these figures.

"Buy instantly with credit card" takes you to the Changelly exchange credit card purchasing facility.

Screenshot_3.png
From https://payments.changelly.com

The little "sharing" button gives the usual options:

Screenshot_4.png

The star adds or deletes a coin from the Watchlist.

"Related cryptocurrencies" down the right side gives a seemingly random list of cryptos. I have tried, and failed, to find correlations in the past. I assume that this function is still a work in progress.

The Chart area

Screenshot_5.png

The top of the chart contains tabs whcih take you away from the chart. A quick one-liner on each:

  • Markets: Shows all the exchanges and trading pairs for that coin. Like this: Screenshot_6.png
  • Social: opens a window with the latest reddit and Twitter posts.
  • Tools: Allows you to make a CMC price widget for any coin. It can be customised.
  • Historical Data: A long table of previous price movement. Includes open, high, low and close prices, volume and market cap day by day.

The chart itself is very limited, but also very useful. It defaults to the total lifespan of the coin. This can be customised using the time button on the left. There are the following options: Day, 7 Days, Month, 3 Months and Year. YTD stands for "Year to Date" and "All" means the entire history. Linear scale and log scale change the prices on the charts to a linear or logatithmic display. I like log displays in crypto, unless I am working short-term only. I believe that a 10 % increase 5 years ago should look the same as a 10% increase today. The four expanding arrows in the little square make the chart full screen. The three horizontal lines next to it are for printing or saving it in different picture formats.

The main chart area has lines for whichever price scales are selected at the bottom. Price scales are annotated along the right-hand side of the chart. They can be selected on and off (along with market cap and volume) by clicking on them just under the chart. Just above them, sliders can be dragged and dropped to select dates. Dates can also be accurately typed in in the date boxes (from and to) near the linear scale button on the top right.

Coin line mini.png

Attribution: All images from CMC unless stated otherwise

Good night folks. See you tomorrow for more CMC.

Yours in crypto,
Bit Brain

Coin line mini.png

Bit Brain recommends:

Crypto Exchanges:
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BNB.png


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Great recap again! Ethereum is the actual network or protocol while Ether is the token used to process transactions on the blockchain.

🌟WE HAVE A WINNER! 🌟
Well done newageinv! You gave the correct answer; earning you the adoration of 7 billion Earthlings and the respect of Bit Brain himself!

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