Efficiency and transparency in data reporting are of great importance in the cryptocurrency industry. With CoinMarketCap (CMC) leading in the pace, industry participants, analysts, and traders depend on the information provided by digital currency data providers to study the market statistics.
Founded in 2013, CoinMarketCap has grown to become the most-referenced platform in the cryptocurrency industry, when it comes to price tracking sources. On November 13, 2019, the platform launched a Liquidity metric to better handle the fake trading volume on exchanges, a feature delivered on the platform’s mission of combating biased reports.
Despite that CoinMarketCap is the leading cryptocurrency price tracking platform, there are needs to validate its information from other platforms for data accuracy. Sometime in April, there was some DigixDAO data discrepancy on CoinMarketCap, after the coin trading was disabled on Binance, which is now the parent company.
There are also other times CMC has been accused of reporting inaccurate crypto market data, like the recent inconsistency of information with USDT we reported. CoinMarketCap later updated the data after reading the report.
This and more reasons point out the need for other cryptocurrency market data providers, to prevent the consequences of over-relying on a particular platform. Thus, in this article, we will discuss the top 10 CoinMarketCap alternatives you can always visit to validate for accurate price information for all the digital currencies in the market.
Top 10 CoinMarketCap alternatives
Founded by TM Lee and Bobby Ong, CoinGecko is a popular CoinMarketCap alternative that has been operating since 2014. The platform tracks the price of several digital currencies, their volume as well as market capitalization. In addition to providing fundamental analysis about the market, CoinGecko also tracks significant events in the industry, community growth, including on-chain metrics.
As one of the earliest cryptocurrency data aggregators to have existed, the platform reportedly tracks the market information of about 7309 digital currencies from 417 cryptocurrency exchanges, at least. Part of its objective is channeled into growing the understanding of Industry participants on the fundamental factors which essentially drive the market.
CryptoCompare is an independent digital currency data provider, created by Charles Hayter. It is another highly-referenced alternative to CoinMarketCap that offers both the retail and institutional crypto participants access to reliable and real-time cryptocurrency pricing and comparison.
The platform was launched in 2014 as “CryptoCoinComparison” before it was rebranded to CryptoCompare in 2015. The data provider houses several relevant features, including APIs for cryptocurrency developers. The platform allows users to view the price of any cryptocurrency in many Fiat currencies, including GBP, EUR, JPY, and USD.
IntoTheBlock (ITB) is an advanced cryptocurrency and blockchain intelligence company co-founded by Alfredo Terrero. Using statistical modeling and machine learning, ITB provides an actionable market report of digital currency assets.
In addition to extracting unique cryptocurrency market insights for using machine learning algorithms, the information provided by ITB is also analyzed from over one hundred on-chain and off-chain factors. The main objective of the company is to provide relevant intelligence about the markets to the global crypto investors.
Crypto traders can use ITB to access comprehensive market data about like token summary, in/out of the money, break-even price, large transactions, volatility, exchange on-chain market depth, whales, and many more.
LiveCoinWatch is another cryptocurrency data provider that operates in the same way as CoinMarketCap. It was reportedly launched on September 9, 2017, and tracks several relevant information on the cryptocurrency market, such as market limits, 24-hour trading volume, price history of digital currencies, and many others.
LiveCoinWatch provides market data of over 2000 cryptocurrencies from more than 100 digital currency exchanges. The platform also provides the options to view crypto prices and other relevant information in over 30 different fiat currencies. As a CoinMarketCap alternative, the platform also provides a beta version of a crypto tool for portfolio management.
CoinLib is another go-to platform for real-time cryptocurrency data. It provides historic crypto prices and rankings, and other advanced features like price alerts as well as portfolio tracking tools. CoinLib is user friendly and one of the new entrants in this section.
Additionally, the platform allows users to compare about four digital currencies on several aspects like trading volume, specifications, market capitalization, and price performance. Users can also access the dominance chart for Bitcoin (BTC), the top cryptocurrency, in about eight Fiat currencies.
Aside from being a cryptocurrency price tracker, CoinPaprika is another widely used CoinMarketCap alternative that houses useful tools. The platform was founded in 2018 and provided digital currency exchange service, including a non-custodial wallet that reportedly supports more than 1000 digital currencies.
CoinPaprika provides detailed information on all the digital currencies listed on its platform, such as the company behind the project, whitepapers, employees, and so on. The platform also supports a more robust APIs.
Notably, Messari is one of the cryptocurrency platforms that provides in-depth analysis and newsletter about digital currencies. It was established by a team of crypto experts on the objective of delivering data transparency as it relates to the cryptocurrency economy globally.
The platform covers above 1,000 digital currencies. Trends reported by Messari are usually referenced by professional cryptocurrency participants, traders, and news outlets like Coinfomania. The pro version of Messari enables users to customize and mute information on any cryptocurrency they are not interested in.
Coin360 is another popular CoinMarketCap alternative that visualizes the prices of cryptocurrency in a more exciting way. Every digital currency listed on Coin360 is categorized by protocol type. Each designated page features liquidity data for the cryptocurrencies.
It also provides a convenient option to share information; however, Coin360 still lacks some advanced features. The data provider lacks some advanced functions like dashboard customization, portfolio tracking, and also advanced API resources.
CoinCodex is a real-time digital currency price tracker that supports more than 2000 cryptocurrencies. The comprehensive overviews and price data provided on the platform are reportedly curated from more than 200 crypto exchanges.
It features the ICO calendar, which provides information about an upcoming token sale, including the previously concluded sales in the market. The platform is optimized for any device, to enable users to keep up with investments, via transparent data reporting.
CoinCheckup provides data in a more standardized process, providing day to day market performance of more than 2000 digital currencies. It includes information such as a coin’s volume, supplies as well as other related metrics.
Similar to CoinPaprika, this platform also provides information about the people behind every listed digital currency on its platform. CoinCheckup also offers a fundamental analysis of the market.
Now that you know the top ten CoinMarketCap alternatives for cryptocurrency market data, see the 5-must have crypto trading tools every crypto traders need in their trading arsenal.
This article is Originally posted on CoinCentral.com
Author: Ibiam Wayas