An analyst needs more than just knowledge to do his job. It is | 9RD Analytics
An analyst needs more than just knowledge to do his job. It is very important to use different tools that make research easier. There are a lot of analytical tools. We use more than 100 of them in our work, and their list is still growing. Some services are paid, some are free. Starting today, we are going to talk about the services we use. These posts will be tagged #tool. Since our subscribers have different level of knowledge, we will start with the simplest ones. More experienced cryptocurrency users are most likely already familiar with them. But our goal is to teach each of you, so we will move with you from easy to difficult.
And we will start with CoinMarketCap.com (CMC). This service is likely to be used by anyone who deals with cryptocurrencies. Some of you are using its counterpart - Coingecko. But we chose exactly CMC. So, CoinMarketCap is an aggregator of useful information about almost all cryptocurrencies that exist. As of today, it displays information for 8866 cryptocurrencies.
By going to a certain cryptocurrency page, you can get almost all the basic information about it. We will not talk about all the data, as there is a lot of it and you can explore it on your own. We will only point out the most important data.
The price of the asset and its graph. You can see the price trends, how much the price has changed since the appearance of the cryptocurrency, ATH (All Time High) and ATL (All Time Low).
Maximum and circulating supply of tokens. That is, how many tokens will ever exist and how many are in circulation now. This data allows us to estimate future inflation pressures.
Current and maximum market capitalization, 24-hour trading volume, and news related to the asset.
We will not elaborate on each parameter now, but will explore them in detail in the following posts.
On the asset page, you can find out general information about the project that issued the token and what problems it solves, about its founders. There is information about the exchanges on which the token is listed. If it is listed on a large number of exchanges, CEX and DEX, this indicates that the token has high liquidity. If the token is traded only on a few DEX, however, that is not a good sign.
But, we want to draw your attention, quality analytics is not limited to the analysis of only one parameter. The project should be studied as a whole, and only after a comprehensive analysis of all the constituent parts, you can draw a correct conclusion about the quality of the asset.
The CMC website has a lot of different token ratings: DeFi, NFT, Metaverse, Stablecoin, etc. The site also provides other products: ICO calendar, information about free airdrops, blockchain explorers.
CoinMarketCap is suitable for an initial introduction to cryptocurrency and if you dedicate yourself to cryptocurrencies, you will be constantly dealing with it.
#tool
