Warning: this article is for the beginner crypto trader looking to learn about reading coinmarketcap
Are you a serious crypto trader? If you answer yes to this question then please do not read any further. Unless you really want to. If you want to start learning about the different crypto coins that are available on the market you can check a neat little site called coinmarketcap.
Coinmarketcap offers a quick view of each crypto coin that is currently on the market and lets you filter and organize this information with different triggers such as volume and change within 24 hours.
You can also drill into each crypto coin on coinmarketcap and get a deeper understanding of each coin including historical data, official website and much more.
Here are a couple of beginner tips for you to start analyzing crypto coins!
Market Cap on coinmarketcap, its in the name for a reason
Market cap is one of the single most important pieces of information that you can look at. You can easily find this figure yourself simply by multiplying the coin price by the total number of coins in circulating supply.
Pretty easy, right?
Volume, volume, and volume
Yes, you are always dealing with volume in any market – why would you think the crypto coin market would be any different? At coinmarketcap the volume is represented from a 24 hour whole.
The price here is represented for a single crypto coin. Yes, make no mistake some crypto coins are worth alot of fiat currency. It is not an illusion.
“coinmarketcap” Tips & Tricks
It is good practice to load coinmarketcap and toggle the “Change (24h)” to display Ascending coins. This signifies a percentage increase in price within a 24 hour timeframe.
You can visit https://coinmarketcap.com