CoinMarketCap

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CoinMarketCap
Coinmarketcap logo.png
Founded 2013
Key People Brandon Chez, Founder; Mauvis Ledford, CTO; Carylyne Chan, Chief Strategy Officer
Products Data aggregator ad distributor
Twitter @CoinMarketCap
LinkedIn Profile
Facebook CoinMarketCap
Website CoinMarketCap Homepage
Blog CoinMarketCap Blog

CoinMarketCap is a web service that provides cryptocurrency market data and other products.

History

CoinMarketCap was founded in 2013 by Brandon Chez, a computer programmer and early bitcoin adopter. In 2018, the Wall Street Journal attempted to reveal his identity by tracing his work computer to his apartment in Long Island, New York, after Chez removed price details from a number of South Korean sites suspected of listing inaccurate information, causing a price crash for numerous digital assets, including XRP. The attempt was unsuccessful. Chez told the Wall Street Journal in an email exchange that he didn't "realize how big of an impact" this would have on the market, but that he thought "the market was already on a downturn at that point so the timing was quite unfortunate."[1][2][3]

The integrity of CoinMarketCap's data reporting was excoriated in a widely publicized March 19, 2019, presentation to the U.S. Securities and Exchange Commission by Bitwise, an asset management firm with a pending application to the SEC for a bitcoin ETF. Bitwise alleged that only ten exchanges of the hundreds currently reported by CoinMarketCap provided credible data for bitcoin.[4]

On May 1, 2019, CoinMarketCap announced the formation of the Data Accountability & Transparency Alliance (DATA), uniting leading exchanges to enhance data reporting. To participate in DATA exchanges must provide live trading and orderbook data to CoinMarketCap. Binance, Bittrex, OKEx and Bitfinex are among the twelve inaugural members. CoinMarketCap also announced that it was launching its own block explorers for bitcoin and Ethereum.[5]

In October 2019, CoinMarketCap announced that it would be hosting an event in Singapore, in which Chez would be "appearing" onstage alongside Sunny King, creator of the proof-of-stake consensus mechanism. The announcement didn't disclose details about the appearances of Chez and King, but CoinMarketCap's Carylyne Chan said in the announcement that "it will be electrifying, exciting and entertaining to be there in person."[6] Besides King and Chez, many well-known figures from the crypto industry, as well as financial institutions are scheduled to speak, including David Chaum, Matthew Roszak, Intercontinental Exchange's Jennifer Ilkiw, Changpeng Zhao, and Colleen Sullivan.[7]

Products and Services

CoinMarketCap is a cryptocurrency industry utility that reports recently-traded prices for hundreds of cryptocurrencies traded on hundreds of platforms around the world. For each currency it reports the total value of the outstanding currency (the "market capitalization"), its total trading volume and its rank by trading volume over the past month and the past 24 hours.[8]

Interest Rates

In October 2019, CoinMarketCap launched a new page on its site displaying interest rates offered on several cryptocurrencies, allowing customers to compare annualized interest rates, minimum duration before realizing returns, and other information between several lending platforms. The featured platforms include Binance, BlockFi, Crypto.com, Bitfinex, and the Celsius Network. The page also has a tab indicating whether each platform is a decentralized, or "DEX" exchange.[9][10]

Key People

  • Brandon Chez - Founder
  • Mauvis Ledford - CTO
  • Carylyne Chan - Chief Strategy Officer

References