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Coinmarketcap vs Coingecko: Select a service for analysis of the cryptocurrency market
Cryptocurrency market data aggregators, perhaps the most popular tools of everyday analytics among investors. With their help, you can quickly find out information about the status of the market, prices and capitalization of assets, trading volumes on exchanges, monets and commerce pairs presented on them.
The functionality of such services is expanding over time, and the methodology for calculating various indicators is improved. Therefore, despite the seemingly identical possibilities, there are significant differences between such analytical resources.
FORKLOG magazine compared the leading CoinmarketCap service in the market and its main competitor Coingeco.
Let’s start a comparative analysis of services with their popularity among users. According to Similarweb, in February, CoinmarketCap (CMC) made 37 million visits, in Coingecco this figure is 8.33 million.
Both services have had a tendency to increase traffic in the past few months. However, in Coingecko this trend is not so pronounced, and the number of visits is still 4.4 times less than the main competitor.
In a comparative report below, you can see the dynamics of Coingecco and CMC attendance from March 2019 to February 2020 inclusive.
According to some reports, the largest attendance analytical service Coinmarketcap is going to purchase the most popular Binance Exchange for today.
If the deal takes place, it will become one of the largest in the industry. It is possible that this absorption will create a powerful synergistic effect and traffic CoinmarketCap will grow even more. Also, perhaps the development of the service will revive thanks to considerable financial resources Binance.
As for the applications – the USAGE RANK indicators in CMC and Coingecko are not so significant:
Perhaps this is due to the fact that the application from CoinmarketCap appeared relatively recently – in April 2019, and from Coingecko – almost a year earlier.
Coingecco applies in Google Play – 4.7; Coinmarketcap has 4.3.
Note that there are other services that are largely similar to cooko and CMC. This is, for example, Coincap.Io, Coinpaprika.Com, Cryptocompare.COM and Livecoinwatch.Com. However, their attendance and, therefore, popularity is many times lower than the leaders of the segment.
The rating of crypto -actual assets on market capitalization in Coingecco looks like this:
The first dozen top assets on the Coingecco service when the Night mode is on. Data as of 28.03.2020.
As you can see in the screenshot, the page has filters for sorting assets according to various criteria. It is convenient that in front of each asset is displayed by the exchange ticker and a change in price is shown not only over the past day, but also in an hour, 7 and 30 days. There is also a column Total Supply – the total amount of sentence (should not be confused with Circulating Supply, meaning the number of coins that have already been launched on the market).
Coinmarketcap has this section somewhat different – the default shows a change in price only in the last 24 hours. However, this and other fields open in Full List mode.
The rating of the largest assets on market capitalization from Coinmarketcap in Full List mode. Data as of 28.03.2020.
You may notice that at Coingecko the first ten is closed by the OKB OKB token OKB exchange. At the same time, Coinmarketcap has 10th place-Tezos. Probably, one of the services is incorrectly set the Circulating Supply parameter.
Exchange ratings in terms of trading and liquidity
The problem of a reliable display of exchange trading volumes has not yet been 100%resolved, despite the efforts undertaken by many services.
Data of various resources often vary among themselves. For example, little -known exchanges may fall into the top ratings, the traffic on which is completely incomplete with a daytime turnover.
Coinmarketcap has a section of the exchange rating is presented in three versions:
-volumes of spot exchanges, where there is no non-commissioning trade and model of mining Trans-Fee (Trade-to-Mine), which involves the release of its own token for the remuneration of traders for activity; – volumes from all spot exchanges, regardless of the models of trade; – rating of exchanges in their liquidity.
The TOP 100 By Adjusted Volume section as of March 28 looks like this:
As you can see, in the top there are mainly little -known trading platforms. The popular Binance exchange in this section is on the 16th line.
A slightly different picture in the TOP 100 BY Reported Volume section:
Binance, although at the head of the list, but over the next two lines, unknown to most participants in the BKEX and MXC market are fighting.
The rating of exchanges in liquidity takes into account a wide range of factors, such as the size of orders and the ratio of the average asset price. Pricing for each market pair is carried out through random intervals during the day, after which the average result in dollar equivalent is calculated.
According to the director of the CoinmarketCap strategy Karilin Chan, the liquidity parameter is most important for investors and traders. In the service support section, this metric is briefly characterized as follows:
– The more liquid the market, the easier it is to buy and sell the asset;
-the volume of bidding itself is an inefficient market liquidity indicator due to the inflated volumes of trading of some exchanges;
– Liquidity – a more suitable metric to identify the most liquid markets for assets with which the user wants to trade.
As of 28.03.2020 rating of exchanges in this section of the CMC service looks like this:
As you can see, this list already presents much more well -known exchanges working on the market for several years. Therefore, it is possible that the section on liquidity better reflects the true state of things than the above indicators of the volume of trading.
As for Coingecko, in May 2019 the service presented the so -called “Trust Score” showing normalized volumes of trading of cryptocurrency exchanges.
The Trust Score methodology involves the integrated use of various techniques, including the analysis of the web traffic and orders magazines (the spread between the prices of BID and ASK, the volume of the order required for the price of price by 2%), as well as BitWise, according to ten trust in exchanges of exchanges.
The rating of the spot exchanges in accordance with Trust Score looks like this:
The first dozen top exchanges according to Coingecco. Data as of 29.03.2020.
As you can see, Coingeco data is radically different from those presented on Coinmarketcap. The latter, by the way, is also trying to fight fake volumes of trading. For example, in May last year, CMC launched the initiative “Alliance of Accounting and Transparency of Data”, and in the fall introduced a new rating system for cryptocurrencies
If you pay attention to the rating of trusted exchanges from BitWise, it turns out that his data is largely converged with information on Coingecco, significantly different from Coinmarketcap:
There is no separate section on Coingecco with the liquidity rating of exchanges, as on Coinmarketcap. However, this metric can be viewed for each of the trading platforms separately.
The screenshot below presents data on Binance liquidity as of 29.03.2020:
On the same page you can still see how much the trading volume declared from the TRUST Score methodology, as well as the average spread between the prices of BID and ASK is normalized by the exchange.
Data on individual coins
In the context of individual coins, these services sets are also significantly different. For example, this is how the page of Bitcoin information on Coinmarketcap looks:
Information about bitcoin as of 20.03.2020
In addition to the general information about the coin, the volume of trading and the market offer, links to blocks of blocks, source code, technical documentation, as well as graphics, you can see a list of trading couples with BTC on various exchanges and historical data for price and capitalization.
For supporters of fundamental analysis, there is a section with Intotheblock onchain indicators and the data of the Fundamental Crypto Asset Score (FCAS) rating from the Flipside Crypto startup.
The corresponding page of the Coingecko service is no less saturated with information.
In particular, there is:
– general review of the coin: basic information about technology, market data, capitalization, dominance index, bidding, price minimums and maximums over the past 24 hours;
– an indicator of the ratio of the volume of trading and market capitalization;
– dynamics of prices for various periods of time;
– the ability to vote in which direction the price will go;
– the ability to choose a candle graph from TradingView;
– data on activity in social networks (on the Social tab);
– data on the activity of developers on GitHub (Developer tab);
– codes for embedded widgets, links to reference materials, news aggregator;
– exchanges and trading couples with this coin (Markets tab);
– Timer of time until the next halving awards for the block.
The science of the data provided on Coingecko is somewhat wider than on CMC. For example, there is no development statistics on the “senior” service, data from social networks, news aggregator and links to training materials.
Coinmarketcap has the corresponding page like this:
Data as of 29.03.2020
At Coingecco, this section is divided into two subsections – Products and Exchanges.
Products presents statistics on unlimited swaps and futures, for each category separately:
On Coingecko you can switch between the perpetual modes (unlimited swaps) and Futures (futures).
In addition to such standard metrics as the volume of bidding and the price, the following indicators are presented in this section:
– changing the price of the contract over the past 24 hours;
– index price (based on data from several spot exchanges);
– Basis (the difference between the spare price of the basic asset and the futures);
– a spread between the prices of BID and ASK;
– a funding rate under a contract;
– Open interest.
In this section, the data spectrum is much wider in Coingecco.
Cryptocurred and decentralized finances
On the CoinmarketCap service, you can see bets on deposits and loans for various coins and services, both centralized and Defi.
Coingecko in the Earn section shows only deposits:
But there is a simple calculator showing the growth of a deposit for a month, year, 5 and 10 years.
An interesting CMC option – the ability to see the ratings of top assets of past years. For example, on May 4, 2013, the first dozen of the most capitalized crypto assets looked like this:
How can you see, much has changed since then. Only the leadership of bitcoin remains unchanged.
Coingecko has a Compare section to compare various coins.
For https://gagarin.news/news/the-reserve-bank-of-india-said-about-the-danger-of-dollarization-of-the-economy-when-using-digital-currencies/ example, you can compare the prices of bitcoin, Bitcoin Cash and Ethereum, their capitalization, the volume of a market supply of coins, the depth of submission of asset prices in relation to the historical maximum, etc.D.
Both services are good in their own way, everyone has advantages and disadvantages.
Coinmarketcap distinguishes a more minimalist interface, but not so extensive functionality.
Coingecco has more different sections and metrics, although there is no, for example, subsection with a list of lending rates and its analogue of Historical Snapshot, like CMC.
Nevertheless, both services deserve attention and can perfectly complement each other, benefiting investors.